Users of online Bitcoin tipping service ChangeTip can now receive and send tips in US Dollars.
Launched in 2013, the San Francisco-based platform is known to have tipped around $250,000 by January 31st, 2015. In many cases, ChangeTip had also been used as a micropayment settlement service, by denominating the Bitcoin tips in small fractions — known as ‘bits’. However, their decision to integrate the USD comes as a surprise to most of the Bitcoin community.
On its latest thread on Reddit, ChangeTip revealed the reasons behind the sudden revamping. The company had lately conducted a nationwide survey among its customers, the results of which came harsh to Bitcoin. The survey stated that around 76% of ChangeTip customers would not use their services because it was based solely on Bitcoin. Going further, the participators suggested the company to integrate the USD tipping option to the platform.
“While the whole ChangeTip team wants to shout from the rooftops that Bitcoin is the best payment channel for micropayments, we also listen to our customers,” the thread read.
Problems with Bitcoin
ChangeTip claimed that it has interviewed many of these anti-Bitcoin customers to understand their perception towards the digital currency. It found out that the customers had troubles with most of the Bitcoin’s technological features. For instance: it was not a real money to most of them. The customers further complained about the Bitcoin’s volatility and its alleged use in financing illicit activities.
“With 3 out of 4 people being unwilling to use ChangeTip because it is using Bitcoin, it was clear that we needed to add USD, “ ChangeTip explained. “The US dollar is probably going to be around for at least a few more years, so we figured we needed to play nice and interoperate.”