Social Media Platform Opts for Bitcoin Payments As Banks Continue to Blacklist Service

Social media platform ‘Gab’ that has sometimes been referred to as the ‘Alt-Right Twitter’ (because it continues to provide a haven to mainstream social media castaways such as Alex Jones and Milo Yiannopoulos), has just announced its decision to start accepting Bitcoin payments.

This is in part due to ‘Paypal’ recently banning the service from using its offerings (along with a host of other banking institutions).

This ban has in part been placed due to the executives of most mainstream financial institutions claiming that Gab ‘promotes hate speech’ and thus in turn propagates racial violence and tension. This claim has been vehemently denied by the folks over at Gab, as they claim that their platform is completely neutral and allows users to basically

“determine the type of content they want to view”.

More On The Matter

For those who may not remember, a similar situation was previously faced by the ‘Daily Stormer’, another independent news outlet shunned by the financial mainstream, wherein the firm could not process regular payments due to restrictions being placed by big name players (including PayPal) on the publishing house. As a result of this, the Daily Stormer team too resorted to accepting payments via Monero and Bitcoin.

In regards to the ‘Gab’ case, it is quite clear that businesses such as Stripe and Paypal simply don't want to be associated with platforms that “appear” to be promoting hate speech.

However, crypto exchanges too seem to be miffed with the firm, with Coinbase recently choosing to ban Gab as well. However, luckily for Andrew Torba, the CEO of Gab, there are many options for processing payments when it comes to the alt-coin space.

Final Take

It now remains to be seen if other big-name crypto services providers like BitPay and all decide to stand up for what’s right or simply follow the narrative that has been laid out by the left in terms of what constitutes “hate speech”.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

DeFi App Aave Creates First Credit Delegation Loan to DeversiFi Decentralized Exchange

DeFi lending platform, Aave completes its first-ever ‘credit delegation’ as DeversiFi borrows over $230,000 without posting collateral. The service agreement was signed on...

Bitcoin Futures Trading at a High Premium; Already Hitting $12,000 on CME

Bitcoin has yet again gained momentum, with people expecting for $12k to hit soon. According to analyst Mati Greenspan, for a sustainable rally, a...

Polkadot (DOT) Launches The First Parachain Implementation Testnet, Rococo

Polkadot introduces parachain functionality with Rococo testnet, a Proof of Authority (PoA) network, allowing users to send direct messages to the Relay Chain and...

Bitcoin Self-Custody Provider Casa Now Allows Users to Buy BTC via Apple Pay

Bitcoin self custody service provider, Casa now allows its customers to buy and hold their own bitcoin. Selling BTC is not supported yet. According...

Four Top Chinese State-Owned Banks Are Testing The Chinese Digital Yuan Project (DCEP)

In an unconfirmed report, four Chinese state-owned banks are gradually testing the ‘digital renminbi’ wallet app and Digital Currency/Electronic Payment (DCEP) system in different...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today