ChangeTip is a Bitcoin-enabled social media tipping platform by which users can send any amount of money over 35 different social media platforms or content showcase channels, including Twitter, Google+, YouTube, Reddit, and GitHub. The integration of Facebook is still in progress. Users can reward content creators with small amounts of money by way of a simple online comment or reply.
Using One Time Tip Link, the recipient does not even have to have an email, since users can send tips via Skype or any kind of messaging service. Besides, the recipient does not need an internet presence to receive the tip, since the service also works via SMS. There is no doubt that the feature expands the potential of using small tips to bring bitcoin to a broader audience.
“The social media phenomenon of ‘tipping’, or expressing one’s appreciation over the Internet with small monetary or other digital gifts, is building momentum,” said Nick Sullivan, ChangeTip founder and CEO. “With ChangeTip, a million users can tip $0.01 and the content creator can collect his $10,000 – an impossibility in a legacy payments world.”
One can see the One Time Tip Link in the main, top bar on a profile. A user need to type in a value, denominated in currencies or monikers, and click Create Tip Link button. This creates a link that can be shared across various platforms. The first person who receives and clicks the link, gets the money, which puts the responsibility of message privacy on the sender.
“The One Time Tip link enables people to send bitcoin in an e-mail or over chat messages like Skype,” wrote Victoria van Eyk, ChangeTip VP of community development. “It’s really never been easier to send someone bitcoin. Simply type in the amount you wish to send, copy the link and send it to the intended recipient. Done.”
About a month ago ChangeTip has raised a $3.5 million Seed Round. Bitcoin investment company Pantera Capital was leading the round, with participation from Bold Start Ventures, CryptoCurrency Partners, DCG, 500 Startups, and others.
“Tipping is likely to be Bitcoin’s first killer app – seamlessly integrated into social media, enabling people to send money in a free, fun, instantaneous way without borders or minimums. This could have a huge impact on Bitcoin adoption. Years ago I received my first bitcoins free from Gavin Andresen’s Bitcoin Faucet. When we look back in a year’s time, there is a good chance that the majority will have received their first bitcoins free via ChangeTip,” previously commented Dan Morehead, Pantera Capital CEO.
Having the potential for expanding Bitcoin adoption and given the variety of options offered, this startup may soon turn into real success story. Whether this will eventually happen – remains to be seen, but today ChangeTip already deserves community’s attention.