It will be a “big part” of the company’s upcoming future, said Twitter CEO Jack Dorsey about Bitcoin. According to the Twitter rep, this is the first time Jack Dorsey spoke about bitcoin publicly in such profundity about how the globe’s towering cryptocurrency probably amalgamated into Twitter’s products. According to the Twitter rep, this is the first time Jack Dorsey spoke about bitcoin publicly in such profundity about how the globe’s towering cryptocurrency probably amalgamated into Twitter’s products.
In-Depth analysis on Jack Dorsey about bitcoin
Twitter’s second-quarter 2021 earnings conference call happened on Thursday. Dorsey said bitcoin is the “best prospect” to become the “autochthonous currency” of the internet and that it will mean that people and companies can freely trade goods and services anywhere on the planet. He believes that with the internet having an autochthonous currency, people will be able to move way faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar. Instead of following a market-by-market approach.
Dorsey has been a stalwart bitcoin advocate for years. His other company, payments firm Square, is already betting big on crypto. Square’s Cash App allows customers to purchase and sell bitcoin. Which generated around $3.51 billion in bitcoin revenue during the first quarter this year. Dorsey has classified bitcoin as one of the three key trends for Twitter’s future, along with AI and decentralization. Dorsey also says that cryptocurrency’s current state reminds him of the early days of the internet and that there wasn’t anything more important in his life for him to work on.
Twitter is running after an enterprise called “Bluesky” to build up an open, decentralized standard for social media.
Dorsey also points out that Twitter would not be alone in the race of pursuing a crypto strategy, noting that even Facebook was advocating the digital currency, Diem.
Where to Buy Bitcoin?
Here’s what’s required – an exchange account, personal identification documents (if using a Know Your Customer (KYC) platform), a secure Internet connection, and a method of payment.
- You need an exchange – the most popular exchanges not decentralized and do require KYC. In United States the exchanges are Coinbase, Kraken, Gemini, and Binance U.S., just to name a few. Signing up for exchange allows one to buy or sell or hold cryptocurrency.
- Connect exchange to Payment option – Gather your personal documents. May include photocopies of a driver’s license, social security number and information about your employer & source of funds. Once the exchange finishes ensuring your identity and authenticity, you connect a payment option, you will be able to connect your bank account directly or connect a debit or credit card.
- Place an order – After you have chosen an exchange and connected a payment option you can now buy Bitcoin and other cryptocurrencies.
- Safe Storage – Bitcoin/cryptocurrency wallets are a place to store ones digital assets securely.
- Hot wallet – Hot wallets run on internet-connected devices like computers, phones, or tablets. Best usage is for small amounts of cryptocurrency or if you are actively trading on an exchange.
- Cold wallet – Simple description of a cold wallet is that it’s not connected to the internet and thus bears way lowerr risk of being compromised.
You can also buy bitcoin using PayPal or credit card, Bitcoin ATMs, or P2P Exchanges.
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