Twitter implements internal “coins”

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New feature will allow individual tweets to be rewarded using “coins”. Reverse engineering expert Jane Manchun Wong has revealed that social networking site Twitter appears to be getting closer to launching a new feature called Coins. Let’s study this case together with the AlsaBot team to know more!

New rewards on Twitter

According to that statement, the feature will allow users to be rewarded for posting certain tweets, and the internal social network token can be exchanged for fiat money. This feature is similar to Reddit’s rewards system, which uses “Reddit coins” to send rewards to other users who post, comment, or live video that they like. The feature will also include the execution of transactions through Stripe, an internet technology platform that facilitates payments and other types of transactions around the world. Last April, Stripe announced that it had begun supporting payouts to Twitter content creators in USD Coin (USDC).

However, it is not clear if the coins in the social network will exist in the blockchain. It is speculated that crypto could be added as a payment method through Stripe, allowing the purchase of “coins” with crypto. Apparently, those who receive rewards on Twitter will have to wait until they earn at least $50 to withdraw funds. Also, a special section for “coins” will appear in the web version of the social network, in which users can conduct transactions with the internal currency of the social network.

In addition, the social network recently launched a new cryptocurrency feature that allows users to search for up-to-date token price information. The update allows you to find price charts for both Bitcoin (BTC) and Ether (ETH) by entering the name of the coin or ticker in the search tab. With the addition of this feature, traders will now be able to get timely data on the cryptocurrency market among all other financial assets on the social network.

Suspension of crypto wallet launch

Despite rumors about the development of the crypto direction of the social network, Twitter recently abandoned the plan to launch a cryptocurrency wallet after the platform was bought by entrepreneur Elon Musk. However, the details and reasons for the suspension of the development of the crypto wallet are not specified. The crypto wallet was supposed to support deposits and withdrawals of cryptocurrencies. Twitter has suspended plans to create a crypto wallet as part of ongoing changes launched last week with Elon Musk as its new owner. The social network Twitter has suspended plans to create a crypto wallet as part of the ongoing restructuring.  Changes in the development vector of the social network are probably associated with its new owner, Elon Musk. But details and reasons for the suspension of the development of the crypto wallet are not specified yet and twitter also did not comment on the situation. So  follow us on our Telegram channel to follow the progress of these events and let us be your guide into the most exciting news of a crypto world!