Frequently Asked Question

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Almost anybody in the world can use OpenTip. The product is currently KYC/AML free so that anybody with an email address and internet connection can use it. We made this product particularly for people in so called third world countries and the unbanked who cannot use traditional monetisation platforms currently running on fiat money rails (€,$,£, etc). OpenTip will be particularly useful for professional content creators and performers who have a fanbase or just many viewers, but anybody can use it really. It can be used even for personal use, for example a video of you and your friends you want to upload on a social media platform, 1% fee is also very little compared to other platforms. This Beta Version of OpenTip is not open to the public yet.

OpenTip enables what we call “Online Digital Global Busking” (ODGB). ODGB is a new concept now possible thanks to the invention of Bitcoin. Thanks to Bitcoin, and now the Lightning Network, it is possible for content creators of any kind to get paid directly by their fanbase, viewers and friends, from anywhere in the world, anytime, for a recording or a live streaming performance. Our QR codes can be used to receive bitcoin tips through the Lightning network thanks to LNURL-Pay. We also give you the option to create a “Creator Page” to present yourself and your content.

By “bitcoins” people refers to the coins moved through the blockchain which usually require to pay a fee to be moved. The fee to move bitcoins on the blockchain is usually an amount between $0.10 and several dollars. The Lighting Network (LN) is way cheaper, It allows you to move bitcoins around for less than a cent of a dollar in some cases. LN is the railway you want to use to make small and frequent payments. LN is used mostly in consumer application.

Sats is for “Satoshis”, the smallest unit of 1 Bitcoin. Each Bitcoin can be divided in 100,000,000 million units, one of this units is called “1 Satoshi” or “1 Sat”. So for example you can receive a tip of 10 sats or 632 sats or 12,000 sats and so on. Almost any amount.

In order to offer this service without performing KYC/AML checks we need to respect certain thresholds in accordance with US Federal Government laws and State laws (DE). 500,000 sats maximum balance. 100,000 sats maximum daily withdrawals.

We only allow withdrawals via the Lightning Network at the moment. In order to withdraw from your balance follow the instructions on the withdrawal page. You will be asked to scan the qr code with on of these wallet apps available both for IOS and Android:

Wallet of Satoshi
Zeus Wallet
Pine Wallet