Substack embraces Bitcoin payments
Online publishing platform Substack would start accepting Bitcoin payments following a partnership with OpenNode.
Earlier this week, payment processor OpenNode announced that "a select group of crypto-focused publications" on content platform Substack would be able to accept Bitcoin payments on-chain. As per the announcement, OpenNode will be using the Lightning Network to “make it easy for writers and publications to get paid in Bitcoin.”
Substack boasts of more than 500,000 paid subscribers, with the most popular writers earning over six figures annually. Judging by the growing popularity of Bitcoin and cryptocurrencies, one should expect the platform to extend the feature to other writers in the nearest future.
Meanwhile, some Substack readers will be able to pay for their subscription in Bitcoin, while a few select publications will be allowed to keep their earnings in crypto. Nick Inzucch, the product designer at the publishing firm hinted at the possibility of expanding the crypto payment option to other writers in a bid to give them “more flexibility and freedom.”
It is worth mentioning that a number of prominent individuals in the crypto space, including Kraken’s growth lead Dan Held and crypto analyst Willy Woo, already use Substack for publishing.
