Independent online publisher and email subscription platform; Substack on Monday the 23rd of August 2021 announced that it has now added Bitcoin Lightning payments. The addition is in collaboration with OpenNode which is a payment processor that offers API solutions which are Bitcoin and Lightning optimized for businesses.
With the collaboration, OpenNode will be powering the off chain and on chain Bitcoin and Lightning payments on the Substack platform. This means that Substack which has more than half a million subscribers will now be giving its writers and journalists the ability to earn in Bitcoin as independent writers.
Nick Inzucchi who is a Product Designer at Substack stated that, “We’re excited to be working with OpenNode to enable independent publishers on Substack to accept crypto payments.”
The Product Designer added that, “Having this option will give writers more flexibility and freedom, and we look forward to doing more in crypto to meet writers’ needs.”
As it stands, the instantaneous lightning payments are only available to “a select group of crypto-focused publications.”
The subscribers of the “… select group of crypto-focused publications…” will be able to pay for their subscription fees via Bitcoin.
The publications which have lightning payments enabled, will then be able to withdraw their earnings in Bitcoin.
The Co-Founder and Chief Technology Officer (CTO) of OpenNode; João Almeida made it known that, “Our partnership will allow content creators across the Substack ecosystem to accept Bitcoin payments, and retain earnings in Bitcoin or convert to preferred currency. Writers and podcasters have flocked to Substack to regain creative and financial freedom, and Bitcoin is a natural fit.”
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