SubStack, an online content platform that provides publishing, payment, analytics, design infrastructure, supporting subscription newsletters, has joined the bandwagon of companies to become the latest adopter of cryptocurrency. The platform now has a Bitcoin payment option.
A spokesperson for the company revealed that the option would only be available for some specific publication like some “select group of crypto-focused publications.” An OpenNode spokesperson said the option would be open for publications like that of Dan Held, Willy Woo and others.
Substack revealed that its decision to accept BTC was because it is “fast, convenient and secure” and that the platform would also be using “Lightning Network for transactions, [which are] even faster than credit cards.”
With this introduction, the online content platform will now accept bitcoin on-chain and through the Lightning Network. Even though it is in small amounts, it will make Bitcoin payments cheaper and faster on its platform .
Substack was founded 4years ago and is backed by prominent investors, like Andreessen Horowitz (a16z), Y Combinator, Fifty Years, and others. According to Crunchbase, Substack boasts of over 500,000 paying subscribers.