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Bitcoin Tipping: Pros and Cons

Bitcoin Tipping: Pros and Cons

When you go to your favourite website, say YouTube, what is the most prominent thing out there? Ads. Those annoying banners and popup, if you don’t know, contribute to the agencies who sell those ad slots, a whole lot of money. Online advertising is a $40 Billion industry now, and all that forty billion comes at the cost of annoying you to a huge extent. It is also the way the websites make money. It is not the only way they do so though.

A new way of generating revenue through sites is Bitcoin tipping, giving your public adderess to the users so that they can give the amount or Tip they desire to the owners of the website. Although transaction fees might be a problem, Bitcoin wallet providers like Xapo and Coinbase are looking to minimize the fee to a certain extent where you will receive most of the tips.

Bitcoin tipping might look cheap, but at least it doesn’t annoy users to death. Recently, some websites at the cost of making their users happy, have removed ads totally, and have told the users to donate the amount they so please. One of these websites is Space Industry News. The CEO of Space Industry News, William Waldon, said that they, for the sake of the users, have totally removed ads and have brought in the tipping system for their site.

For this, Waldon said that they were trying to explore a new frontier, where the website would generate revenue, and the users would also be happy. Waldon thinks that this move would be effective in a longer period of time, with the users realising that the website is more friendly and understandable.

Providers of these services have also offered new ways for giving tips. ChangeTip, one of these providers, does it through social media, using sites like Facebook, Twitter, Google+ etc. All you have to do is post or tweet at ChangeTip to give them the said amount and they will do so. This tipping system applies for DogeCoin as well, here the provider being DogeTipBot.

Still, it will take time for this new feature being widely used by people, because, arguably, ads are the best way for earning from websties, since ads will give you a set rate, whereas Bitcoin Tipping depends on the mood of the viewer. Also, the sudden changes in the price of Bitcoin might pose a threat to the funds earned by the site.

In conclusion, this is too early to say whether this feature will become popular, since the owners of the websites will have to decide, even if it does make the viewers happy, the owners themselves will practically be suffering a loss at the cost of the pleasure of the viewers.

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