The Bottlepay payments app went live with its social media bitcoin payments feature. Users can now easily send satoshis over Twitter.
The micropayments work by tweeting a direction for the Bottlepay bot about who and how much to send.
“A single tweet — for example ‘@bottlepay sends 1,000 sats (the smallest unit of Bitcoin) to @twitteruser’ — will instantly move the specified quantity of Bitcoin from one user’s account to another,” the company says.
Built for Small, Speedy Payments
The company’s bot is built on the Lightning Network, which enables fast transactions without worrying about blockchain confirmation times.
In their explanation, app developers use the example of sending a few sats in appreciation.
“So if you wanted to show appreciation to the author of a tweet, reply with: @bottlepay send 500 sats for the awesome content!,” the developers explain.
The trick is that both users need to have the app an extension installed for it to work. If the person you’re sending to doesn’t they have seven days to sign up and receive the payment. This works as a clever referral mechanism for the app as well.
Bottlepay’s aim is to provide low cost, fast transactions for cryptocurrencies and fiat. It currently supports the UK Pound. The developers are looking to add capabilities to transfer in Euro next.
The launch of the beta app in February saw $2.37 million transferred according to the creators.
While currently only available on Twitter, the company says it plans to expand to Reddit, Discord, Instagram, Twitch, Telegram and Mastodon soon.
BottlePay, Second Time Lucky
This is the second time around for the app, as it’s first version was shut down in 2019.
This was due to the enforcement of the European Fifth Anti-Money Laundering Directive. These updated regulations included a full definition of virtual currencies
As a result, Bottlepay felt it couldn’t continue with its original app without a complete redesign. Following a complete shutdown, the company relaunched with an app compliant with all regulations relating to cryptocurrencies in the territories it operates in.