Thumzup Media Corporation to Introduce Bitcoin Payments for Gig Workers in 2025
Thumzup Media Corporation to Introduce Bitcoin Payments for Gig Workers in 2025
Thumzup will enable gig workers to receive payments in Bitcoin starting January 2025, enhancing financial flexibility and control.
Quiver AI Summary
Thumzup Media Corporation has announced plans to enable its gig workers to receive payments in Bitcoin, starting January 2025, through its Account Specialist Program. This initiative aims to provide greater financial flexibility to gig workers in response to the increasing demand for cryptocurrency payments. Thumzup will utilize established platforms like Coinbase for seamless integration of Bitcoin into its payout system. CEO Robert Steele highlighted the benefits of faster transactions, lower fees, and enhanced privacy, especially for workers in tech-savvy regions like Los Angeles and South Florida. Traditional bank payments will still be available for users who prefer them.
Potential Positives
- Thumzup plans to offer Bitcoin payments to its gig workers, reflecting a commitment to innovative compensation solutions.
- The integration of cryptocurrency payments through established platforms like Coinbase enhances financial flexibility and control for workers.
- This initiative aims to attract tech-forward gig workers in progressive markets like Los Angeles and South Florida, potentially increasing the company's workforce appeal.
- The company continues to provide traditional payment options, accommodating diverse worker preferences.
Potential Negatives
- The announcement of offering payments in Bitcoin may raise concerns regarding the volatility and regulatory uncertainties surrounding cryptocurrency, which could lead to apprehension among gig workers about the stability of their earnings.
- The reliance on third-party platforms like Coinbase for Bitcoin payments could expose Thumzup to operational risks, including potential integration challenges or service disruptions that may affect payment processes.
- The press release includes multiple disclaimers about forward-looking statements and associated risks, indicating potential uncertainties regarding the company's growth and earnings that may concern investors.
FAQ
What new payment option is Thumzup offering for gig workers?
Thumzup is introducing Bitcoin payments for its gig workers through its Account Specialist Program starting January 2025.
How will gig workers receive Bitcoin payments?
Gig workers will receive Bitcoin payments through established platforms like Coinbase, integrated into Thumzup's existing payout system.
What are the benefits of receiving payments in Bitcoin?
Receiving Bitcoin payments offers gig workers faster transactions, lower fees, greater financial privacy, and potential for investment.
Is traditional payment still available for Thumzup workers?
Yes, traditional bank payments will still be available for workers who prefer them.
Where can I download the Thumzup app?
The Thumzup app is available for download on the App Store and Google Play.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
Through established platforms like Coinbase embracing cryptocurrency payouts, Thumzup plans to soon offer its gig workers the option of digital currency payments
Los Angeles, CA, Nov. 19, 2024 (GLOBE NEWSWIRE) --
Thumzup Media Corporation
("Thumzup" or the "Company") (Nasdaq: TZUP), a leading provider of innovative social media branding and marketing solutions that allows businesses and brands to pay customers and fans cash through Venmo and PayPal for their posts on social media, today announced it will soon offer payments in Bitcoin to its gig economy workforce through its recently launched Account Specialist Program (ASP).
This move reflects Thumzup's commitment to innovative compensation solutions and its recognition of the growing demand for cryptocurrency payments among gig workers.
Leveraging established platforms like Coinbase, Thumzup will seamlessly integrate Bitcoin payments into its existing payout system. This provides members of its ASP greater financial flexibility and control over their earnings.
"We're thrilled to empower the gig economy with the option of Bitcoin payments, especially in tech-forward areas like Los Angeles and South Florida," said Robert Steele, Thumzup CEO. "This initiative offers them faster transactions, lower fees, and more financial privacy. Plus, with Bitcoin's growing acceptance, they can easily use their earnings for daily expenses or as a potential investment."
Members of Thumzup's Account Specialist Program can start receiving digital currency payments starting January 2025. Traditional bank payments will remain available for those who prefer them.
The Thumzup app is available for download on the
App Store
and
Google Play
.
About Thumzup
Thumzup Media Corporation (Thumzup) is democratizing the multi-billion dollar social media branding and marketing industry. Its flagship product, the Thumzup platform, utilizes a robust programmatic advertiser dashboard coupled with a consumer-facing App to enable individuals to get paid cash for posting about participating advertisers on major social media outlets through the Thumzup App. The easy-to-use dashboard allows advertisers to programmatically customize their campaigns. Cash payments are made to App users/creators through PayPal and Venmo.
Thumzup was featured on
CBS Los Angeles
and in
KTLA
.
Legal Disclaimer
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its potential growth, impacts on the advertising industry, plans for potential uplisting, and planned expansion. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in our filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Contact Info
investors@thumzupmedia.com
800-403-6150
Media Contact
Jessica Starman
media@thumzupmedia.com
Attachment
Thumzup Media Corporation
