According to a press release on August 23rd Substack which is a subscription-based online media platform that has over half a billion users has begun accepting Bitcoin Lightning payments in partnership with OpenNode.
Substack, which allows writers to send their work directly to readers, has more than 500,000 paid subscribers,. The top writers are earning over six figures per year. Selected Substack subscribers will be able pay their subscriptions using Bitcoin (BTC) with certain publications allowed to keep their earnings in crypto as well.
The option to pay in Bitcoins is currently only available to publications that are focused on cryptocurrency. Substack has many popular crypto newsletters, but this feature is currently only available for two publications, analyst Willy Woo’s “The Bitcoin Forecast” and Dan Held’s ‘The Held Report.”
Nick Inzucch, Substack product designer, hinted at the possibility that the platform will expand its crypto payment offerings to other writers to allow them more freedom and flexibility.
Nick Inzucchi, product designer at Substack said:
“We’re excited to be working with OpenNode to enable independent publishers on Substack to accept crypto payments, Having this option will give writers more flexibility and freedom, and we look forward to doing more in crypto to meet writers’ needs.”
João Almeida, Co-founder & CTO at OpenNode said:
“Our partnership will allow content creators across the Substack ecosystem to accept Bitcoin payments, and retain earnings in Bitcoin or convert to preferred currency. Writers and podcasters have flocked to Substack to regain creative and financial freedom, and Bitcoin is a natural fit,”