Substack a content platform backed by Andreessen Horowitz (a16z) has stated that it will start accepting Bitcoin payments.
Bitcoin has been added as a payment option on Substack, an online content platform where writers may make money via subscriptions.
“We’re looking forward to investigating expanded availability depending on feedback and demand,” a Substack spokeswoman told The Block, adding that the option is now offered only “to a select set of crypto-focused sites.”
An OpenNode spokeswoman told The Block that Willy Woo and Dan Held’s crypto-focused publications had the bitcoin acceptance option. For the initiative, Substack has teamed up with OpenNode, a bitcoin payment processor.
“We’re delighted to introduce this option, even if it’s on a small scale at first,” a spokeswoman for Substack stated.
“Bitcoin transactions are quick, easy, and secure, with low costs. For transactions, we use the Lightning Network, which is even faster than credit cards.”
Substack will accept bitcoin on-chain as well as through the Lightning Network, which is aimed to make small bitcoin payments more affordable and faster.
Substack was founded in 2017 and has received funding from renowned investors such as Andreessen Horowitz (a16z), Y Combinator, Fifty Years, and others.
