ChangeTip, bitcoin tipping service, has announced that it included Tumblr, YouTube and Google+ into its platform.
The company already accepts micropayments in digital currency on such sites, as Reddit, Twitter and StockTwits, a financial communications platform for traders and investors.
ChangeTip, called a ‘love button for the Internet’, allows its users gifting small amounts of bitcoin to their friends. This is a great alternative to the usual ‘like’ or ‘+1’.
The company expects to benefit from the low cost bitcoin payments and lets using micro-tips for all type of content distributed via Internet. The platform can also be used for gifting and fundraising. Moreover, the users will be able to monetize content for blogs and other media.
ChangeTip’s CEO and founder Nick Sullivan said: “We believe people are basically good and we let them show their appreciation directly in everyday social media interactions.”
The company is committed to substitute the concept of a “share” or “like” with financial appreciation, what is likely to increase significant amounts of money.
In order to send bitcoin, platform users have to connect their social media account to ChangeTip and then add money to their wallet with the use of provided QR code.
After setting up the account, users can gift bitcoins by including ‘@changetip’ and the amount of money in the comment on their post on YouTube, Google+ and Tumblr. Then the ChangeTip robots finish the transaction with an automated comment.
Bitcoin tips, as well as fiat amounts, are denominated in everyday things, such asa ‘coffee’ ($1.50), a ‘hamburger’ ($2.50) and a ‘kitten’ ($3.00).
The service enables users to create their own denominations, for example, ‘3 beers’, ‘2 coffees’ or ‘4 hamburgers’. In addition, the users can create such denominations as ‘a trip to Paris’, although within limits. The maximum tip is $25, still, this could be set up in the account settings.
If the tip includes multiple values, ChangeTip will send the smallest one. For instance, such tips, as ‘beer, beer, beer, kebab’ are not possible, although it sounds very tempting.
The lowest amount of money that users can withdraw from their ChageTip account amounts to 10,000 satoshis (what is equal to $0.05 at the current exchange rate). The withdrawals are accomplished within 24 hours. According to ChageTip, all tips are refunded during seven days.
The platform is currently free. Still, the company says that from 15th of September, all users will have to pay 1% fee to withdraw bitcoin from their wallets.