Coinbase, one of the most popular Bitcoin payment processors and wallet providers, has announced on its blog that it will be shutting down its Bitcoin tipping button.
The company cited the viral success of ChangeTip as the reason for its decision to end its own tipping service:
“Another excellent tipping service in the bitcoin community,ChangeTip, has gotten some even better traction, and done a great job at pushing the tipping ecosystem forward. So today we’d like to show our support for them and encourage existing users of our tip button to migrate over to ChangeTip.”
Instead of competing with ChangeTip, Coinbase has decided to focus on its main purpose of providing Bitcoin infrastructure, encouraging tippers to use ChangeTip. Coinbase said that it will help its tip button users transition to ChangeTip in the coming weeks, noting that the Coinbase tip button is set to be totally shut down by April 1, 2015.
Coinbase has been a major name in Bitcoin news lately, as it has recently launched a full Bitcoin exchange that is fully licensed in several US states. Before launching this new exchange, Coinbase conducted a funding round, during which it raised $ 75 million USD, a record breaker for Bitcoin investment.
Image courtesy of Coinbase.