Operating under a custodial concept, our funds will be managed by a third party.
A Twitter account is required.
Tippin was born as a tool that takes advantage of the Lightning Network, allowing you to receive advice using this network without the need for a full node. This platform uses a private node that manages payment channels and is responsible for generating invoices.
Thanks to the use of a private node, This platform works according to the custodian concept, that is, our funds will be managed by a third party.
Another important thing to keep in mind is that you need a Twitter account to use Tippin, as this is the only existing form of registration.
Registration is very basic. First we need to go to the website Tippin.me.
To register, we will click on Join Now.
The next thing is to click on Sign up with Twitter, which will redirect us to the social network. It will notify us that certain data will be synced with Tippin. Then just click accept to return to the platform.
At this point we will have the bill ready.
In order to receive payment, we need an invoice for payment, so we need to go to the Your Tip Page option.
What we have here is our Tippin page. A new address with no defined amount will be created in it each time it is entered. This is due to the fact that each Lightning invoice is only used to receive one payment. Allowing so that different people can send us instant micropayments.
Each invoice has a lifetime of 24 hours. In that time period, if no payment has been made, it will be automatically cancelled.
On the other hand, since we need to share access to our Tippin page, we can copy the link which will come in the following format: tippin.me/@name+user, where the username belongs to the one on Twitter.
As for the withdrawal, first we have to go to the main page via the profile photo that we see at the top.
With Tippin, payouts are made by sending satothis to another Lightning wallet via a payment invoice. And if in your case you don’t have a full node, I recommend using Bluewallet, which currently allows you to receive payments; or ZigZag Exchange, where you can exchange Lightning for BTC.
To continue, we will click on Cash out.
In this new field we will put the address of the payment account. We must remember that they usually have a pre-defined amount, so we must be careful not to put an amount that exceeds the balance we have in the Tippin.
As a tip, I recommend that you try to leave at least 1 satoshi at the time of withdrawal. That is, if we have 100 satoshis in Tippin, we will generate an invoice of 99 satoshis. This is so that we don’t get a message that the funds are insufficient.
All that remains is to press Cash out again and that’s it.
The benefits that Tippin brings
One of the main limitations that the Lightning Network faces is the mass usage that can be put to it. This is because initially only those who had a full node running online could receive payments through this tool. Currently there are options such as Bluewallet which, using a private node, allows receiving payments, but which also faces the fact that you have to manually generate each invoice.
Therefore, with Tippin we managed to take advantage of these two shortcomings. First of all, we have an online wallet – although, since the custodian wallet is also in beta, it is advisable not to store large amounts – which can be managed from any web browser. And on the other hand, we will have invoices for payment without a defined amount automatically generated from our personal Tippin page.
To conclude, Tippin gives me the impression that it can be used extensively by online content creators, as it has a fast (Lightning Network) and reliable (Bitcoin) means of receiving tips for their work, thus avoiding dependence on a centralized payment system.
Featured image of Wright Studio / stock.adobe.com