Bitcoin microtransactions startup ChangeTip, which allows people to send bitcoin tips over social media, has now added Facebook to its list of supported platforms.
However, the team framed the integration of Facebook as a notable step forward. By leveraging the world’s largest social network, the San Francisco-based company hopes to encourage more consumers to use bitcoin.
Dan Held, its newly appointed vice president for product, told CoinDesk:
Sending a Facebook bitcoin tip
To send a bitcoin tip on Facebook, users first need to connect their accounts within the ChangeTip settings panel.
The Facebook option will show in ChangeTip's main tipping screen and the interface will populate the 'Send to' field with the user's Facebook friends.
While transactions are made in bitcoin, users can opt to specify the amount of their tips in fiat denominations, BTC or 'a moniker' – a nickname set in ChangeTip's platform, like 'cheeseburger', that indicates a certain value.
"We want people to be creative on ChangeTip," Held said.
Once a tip is sent, it appears on the receiver's timeline, and the sender has the option to write a personal message on the post.
The ChangeTip team said it took several weeks to build the integration, but that the opportunity made it worth the effort.
"Facebook is the biggest social media network, so it was a top priority for us," said Held.
The opportunity for building businesses around micropayments in cryptocurrencies is immense.
ChangeTip has raised more than $4m to date from investors such as Crypto Currency Partners and Pantera Capital.
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