Prominent publishing platform, Substack jumped onto the crypto bandwagon by adding Bitcoin [BTC] as a payment method.
The Bitcoin bug went on to bite several platforms across the globe. The king coin’s immaculate price change made sure to catch the eye of many. With the market cap of the asset hitting $1 trillion, the price of BTC followed suit as hit a high of $64K. Despite enduring a major setback, Bitcoin did not lose face and continued raging as the largest cryptocurrency to exist.
No major platform apart from Tesla pulled back from Bitcoin. The asset found a place in significant platforms across the world. Substack became the latest one to accept Bitcoin for payments.
Substack to accept Bitcoin [BTC]
In a recent announcement, popular payment processor, OpenNode revealed that it had partnered with Substack to carry out BTC payments, With over 500,000 paying subscribers, the publishing platform would offer BTC payments through OpenNode.
Substack would reportedly use OpenNode’s on-chain and Lightning Network Bitcoin payments. OpenNode’s co-founder and CTO, João Almeida suggested that the platform’s latest move would allow an array of content creators to earn in BTC. Noting how the publishing platform gives people the opportunity “to regain creative and financial freedom, and Bitcoin is a natural fit.”
The aforementioned firms have been trying to formulate an instant, low-cost payments system for a group focused on crypto publications. Nick Inzucchi, product designer at Substack addressed the recent collaboration between the two platforms and said,
“We’re excited to be working with OpenNode to enable independent publishers on Substack to accept crypto payments. Having this option will give writers more flexibility and freedom, and we look forward to doing more in crypto to meet writers’ needs.”
This move could pose highly beneficial for the publishing platform as well as the Bitcoin community.