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ChangeTip will use Bitcoin to enable microtransactions

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ChangeTip will use Bitcoin to enable microtransactionsBitcoin is perfect for microtransactions, and startup ChangeTip hopes that those Bitcoin transactions can be used to fund content creators in new ways. Instead of having people pay large amounts of money or no money to receive access to content, microtransactions let people give small amounts here and there. ChangeTip specifically hopes that microtransactions could put an end to clickbait, since content creators would be able to focus on creating worthwhile content rather than things that will get a lot of views.

ChangeTip sets itself apart from other microtransaction services by not adding its own fee into the mix. This means all of the money sent through the platform will be going to the intended recipient. In the case of ChangeTip alternatives like Flattr, a large 10% fee is added to each transaction.

A sender can use ChangeTip to specify a certain amount in Bitcoins, usually less than $1, to send to someone. Using Twitter, Reddit, YouTube, or another social network, a recipient is notified that they have Bitcoins waiting for them. As long as the recipient realizes they can pickup the Bitcoins, the transaction is complete. Otherwise, ChangeTip refunds the sender their money in seven days.

Outside of just tipping video and article creators, ChangeTip can also be used to send people small amounts of money to people for insightful comments, something that would work very well on sites like Reddit.

Via [TechCrunch]

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