Is Twitter Introducing Its Own Digital Currency and Is Dogecoin Still a Thing?

11 January 2023, 19:45 GMT+0000
Updated by Ryan James
11 January 2023, 19:45 GMT+0000
In Brief
  • The tech bloggers shared leaks of Twitter Coins that will be used to award creators.
  • There are no hints of crypto being involved with Twitter Coins.
  • Is Dogecoin out of the race for integration on Twitter?
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The Reverse Engineering blogger has hinted towards Twitter Coins, the platform’s digital currency. Is Dogecoin out of the race?

Since Elon Musk took over Twitter, the anticipation for Dogecoin to be used as a mode of payment has been high within the crypto community. But, a recent announcement from a well-known Security Researcher and Reverse Engineering blogger might disappoint crypto enthusiasts.

Well-Known Blogger Leaks a new Award Mechanism  

The Tech blogger Jane Wong has shared a sneak peek into the Twitter Coins purchasing screen. She revealed that Twitter Coins purchases would be made through the online payment processing platform – Stripe. Jane Wong has a history of researching and documenting the hidden features in websites and mobile apps. 

Users will be able to access Coins through the navbar menu, according to tech blogger Nima Owji. Coins will be used to “Award” creators with tags such as Hilarious, Helpful, Gem, Crown, etc. Twitter will payout creators at a minimum threshold of $50.

Is Dogecoin out of the Race With Twitter Coins Feature Rolling?

The leaks shared by Jane Wong and Nima Owji do not have the slightest hint of Dogecoin or any other crypto being involved. Nima Owji warned of crypto scammers, saying, “Twitter Coin is still under development, and we don’t even have any evidence that it’s something related to crypto.” 

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Due to such developments, the community comments that Dogecoin is dead. However, on the other side, during a Twitter space in November, Elon Musk mentioned that he is “working hard on the DOGE.”

Also, on Dec. 1, Stripe, the company facilitating Twitter Coins, announced an embeddable and customizable fiat-to-crypto onramp. The new service will allow companies to enable their customers to exchange fiat for crypto. The community speculates that Elon Musk is hiding his intentions, and it will eventually be Dogecoin on Twitter.

Twitter Seeking Additional Revenue Via Username Auctions

According to The New York Times sources, Twitter is considering auctioning usernames to build up a new stream of revenue. However, the final decision has not been made yet.

In a December tweet, Elon Musk mentioned that Twitter would soon start freeing up username space of 1.5 billion accounts.

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For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

Disclaimer

BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.