Seattle-based Bitcoin company iPayYou has recently launched its “Pay-by-Twitter” feature, allowing users to make P2P payments over the highly popular social media platform.
P2P Bitcoin Payments Now on Twitter
IPayYou allows its users to buy, sell and hold cryptocurrency within its platform, which the company says is designed to be very user-friendly. The wallet also features a mechanism that lets people cancel a transaction if a mistake occurs, and also has email-based sending integrated within the wallet.
IPayYou’s Pay-by-Twitter feature affords users more privacy than sending an email or bitcoin address, so transactions can be completed without exchanging private information or publicly displaying addresses on the web. The Seattle-based company says they are one of the first full-service web wallets to implement this feature.
Founder and CEO of iPayYou, Gene Kavner, said:
Twitter is one of the most widely used social media networks worldwide and despite the speed of technological innovation in the 21st Century, no other full-service bitcoin wallet offered this feature until now. With the new Pay-by-Twitter feature, iPayYou continues to offer consumers with easy ways to use Bitcoin as a payment method in everyday life, which has been our mission from the start.
To show off its service, iPayYou has created three Twitter handles representing the US presidential nominees so users can show support for their candidate of choice with the new Pay-by-Twitter utility.
“We chose to use the presidential candidates as an example of how little information is truly required to send payments over our Pay-by-Twitter feature,” Kavner explains.
Once the funds are received by iPayYou, a tweet notifies the account chosen to receive the payment. The tweet includes directions on how to receive the funds with a link to the iPayYou website. Those who receive a BTC payment from the platform can decide to send it to someone else via Twitter, send it to another wallet or hold it in their iPayYou wallet.
Kavner believes this service, tapping into Twitter’s 310 million users, should bring more attention to Bitcoin in the mainstream. He adds:
It will open the doors for individuals to not only send payment to friends, families, and colleagues but also support causes and charities which will benefit from its true peer-to-peer functionality,
Tweets & Transactions Are Already a Thing
There are a few other services that offer bitcoin payment solutions, such as ChangeTip, a popular tipping platform available on many social media platforms. Bitcoin.com also has a Twitter boosting service called “Birds,” which allows users to earn bitcoin by retweeting. The feature tethers the cryptocurrency to social media platform and enables people to market their words with incentive. Each tweet a person sends out has a fraction of bitcoin tied to it, and those who retweet the post will get paid for helping spread the message.
Now, iPayYou wants to be another choice within the social media realm, and believes its new feature adds a richer layer to the social media platform. Currently, iPayYou only exists as a web-based bitcoin wallet, but over the next few months, the company will release its standalone mobile application on iOS and Android.
What do you think of iPayYou’s Pay-by-Twitter initiative? Let us know in the comments below!
Images courtesy of iPayYou, Pixabay.