40% of the articles published on the platform talk about cryptocurrencies.
This method only applies to articles on crypto assets, but could be extended to the rest.
Substack, a written publishing platform with more than 500,000 subscribers, already accepts payments in bitcoin (BTC). Thanks to an alliance with the payment processor OpenNode, those who wish to subscribe to the specific material on cryptocurrencies published by the site will be able to pay through on-chain payments and the Lightning Network. Content creators will also charge in cryptocurrencies.
According to what is published by OpenNode on its website, this payment alternative is only enabled for a “select group of publications related to cryptocurrencies”. It is a type of content that interests users of the platform a lot. According to the quoted statement, two out of every five paid Substack bulletins belong to this item.
The authors of these notes will also receive their royalties in crypto assets. In addition, it is detailed that the transactions will be instantaneous and will have low costs, something that especially characterizes the Ligthning network, as CriptoNoticias explains in its Criptopedia.
Substack and its extensive content on bitcoin
Substack is a platform founded in 2017 where freelance writers post their content for their subscribers to read. The site, its creators claim, allows these writers, journalists and all kinds of experts to connect directly with their audience. Beyond giving them a place to display and profit from their content, Substack also provides analytics and design infrastructure for your texts..
That’s why the company was “happy to work with OpenNode” to allow publishers “more flexibility and freedom,” said Nick Inzucchi, Substack product designer. 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 for using this method.
That the Substack developers have decided to accept the main cryptocurrency for a given group of items is no coincidence, or so it seems. Is that the platform has become a valuable source of information for both publishers and readers of the world of cryptocurrencies.
For instance, It is possible to find in Substack texts of highly recognized specialists in the field, like 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.