Current Overview
Currently, the payment processor supports crypto payments in USDC, a stablecoin pegged to the US dollar. These payments will be processed through Polygon, which is a Layer 2 solution built on the Ethereum blockchain.
The company selected this blockchain due to its low transaction fees, fast payment processing, and wide wallet compatibility. Some well-known wallets that work with the blockchain include Metamask, Rainbow, and Coinbase Wallet. Additionally, the Polygon network is integrated with Ethereum, meaning content creators can bridge to Ethereum and convert their crypto into other altcoins.
How Can Creators Use Stripe Connect?
As a content creator on Twitter, you can opt to receive payment in crypto, requiring you to go through Stripe’s onboarding process. The payment processor will then verify your information. On the platform, you can view your earnings in real-time and manage your account details. Using the Stripe Express app, you can also check your upcoming payouts.
Although Stripe currently supports payments made using USDC, it plans to add other cryptocurrencies. By the end of the year, Stripe aims to expand the program to over 120 countries. Tip: Did you know that CryptoChipy has over 130 payment methods listed? Discover which crypto exchange or platform to use by checking their deposit options here.
What Are Super Follows and Ticketed Spaces?
Twitter users in the United States can apply for these two monetization programs to earn money from their content on the platform. These features were introduced earlier this year and are still being tested. Through the Super Follows option, content creators can charge users a monthly fee for exclusive content. Currently, users can set monthly fees at $2.99, $4.99, or $9.99.
Ticketed Spaces allows creators to charge fees for access to social audio rooms on Twitter. Fees can range from $1 to $999. Additionally, creators can set a cap on the room size with the Ticketed Spaces feature.
Content creators will retain 97% of the earnings from these monetization tools. However, once creators surpass $50,000 in earnings from both programs, their share will drop to 80%. It’s important to note that Twitter’s 20% fee is lower than many popular platforms—Twitch takes 50%, YouTube takes 30%, and OnlyFans takes a 20% cut.
To check your eligibility for these programs, you can visit the sidebar on the Twitter mobile app.
Conclusie
Twitter has introduced various monetization tools to allow users to earn money for their content, with payments being processed through Stripe. Currently, payments can only be made using USDC, a stablecoin tied to the US dollar. The fintech company plans to extend support for additional cryptocurrencies and expand to more than 120 countries in the future. These payments will be processed on the Polygon network, a Layer 2 blockchain built on Ethereum, which provides low transaction fees and fast payment processing.
Stay updated with CryptoChipy for more news on this story, as we also cover general cryptocurrency news and updates.
