40% of the articles published on the platform talk about cryptocurrencies.
This method only applies to articles about cryptoassets, but could be extended to the rest.
Substack, a written publishing platform with more than 500,000 subscribers, now accepts bitcoin (BTC) payments. Thanks to a partnership with payment processor OpenNode, subscribers to the site’s cryptocurrency-specific material will be able to pay via on-chain payments and the Lightning Network. Content creators will also be paid in cryptocurrencies.
According to what OpenNode published
on its website, this payment alternative is only enabled for a “select group of cryptocurrency-related publications”. This is a type of content that is of great interest to the platform’s users. According to the statement, two out of five paid Substack newsletters belong to this category.
The authors of these notes will also receive their royalties in cryptoassets. In addition, it is detailed that transactions will be instant and will have low costs, something that characterizes especially Ligthning’s network, as CryptoNews explains in its Cryptopedia
Substack and its extensive bitcoin content
Substack is a platform founded in 2017 where freelance writers publish their content for their subscribers to read. The site, its creators claim, allows these writers, journalists, and all manner of experts to connect directly with their audience. Beyond giving them a place to showcase and profit from their content, Substack also provides them with analytics and design infrastructure for their copy.
That’s why the company was “happy to work with OpenNode” to allow publishers “to have more flexibility and freedom,” said Nick Inzucchi, product designer at Substack. In that sense, Inzucchi added that more cryptocurrency payment services could be added in the future, which leaves the door open for all publications to be paid with this method.
That the developers of Substack have decided to accept the main cryptocurrency for a certain group of articles is no coincidence, or so it seems. It’s just that the platform has become a valuable source of information for both publishers and readers in the cryptocurrency world.
<img src=”https://mk0criptonoticijjgfa.kinstacdn.com/wp-content/uploads/2021/08/Willy-Woo-1024×450.jpg 1024w, https://mk0criptonoticijjgfa.kinstacdn.com/wp-content/uploads/2021/08/Willy-Woo-300×132.jpg 300w, https://mk0criptonoticijjgfa.kinstacdn.com/wp-content/uploads/2021/08/Willy-Woo-768×338.jpg 768w, https://mk0criptonoticijjgfa.kinstacdn.com/wp-content/uploads/2021/08/Willy-Woo-560×246.jpg 560w, https://mk0criptonoticijjgfa.kinstacdn.com/wp-content/uploads/2021/08/Willy-Woo-750×330.jpg 750w, https://mk0criptonoticijjgfa.kinstacdn.com/wp-content/uploads/2021/08/Willy-Woo-1140×501.jpg 1140w, https://mk0criptonoticijjgfa.kinstacdn.com/wp-content/uploads/2021/08/Willy-Woo.jpg 1529w” alt=” width=”907″ height=”399″ /> One of Willy Woo’s articles on bitcoin at Substack. Source: Substack.
For example, it is possible to find on Substack texts by well-known specialists in the field, such as Willy Woo, Anthony Pomplano and Jimmy Song. The content that can be found ranges from subscription newsletters to event analysis, opinion articles and technical analysis, very similar to what these authors themselves usually reflect on Medium and other similar platforms.