Twitch Is Reportedly Accepting Crypto Payments Of BTC And BCH, Just Months After Banning Them

Popular online streaming giant, Twitch, could be accepting crypto payments yet again, months after stopping the service. According to the platform's Canadian user, the site is reportedly going back into accepting BTC and BCH payments.

Early this year, CCN first broke the news, saying that the Amazon subsidiary had silently stopped accepting payments made in crypto. This, the report said, was ostensibly informed by “tax-related issues.”

On the platform's “More Payment Options,” Twitch removed the choice of using “Cryptocurrency” to pay, doing all that without issuing any explanation whatsoever. This effectively disabled all crypto-related payments and underscored the platform's ban on crypto.

But months later, it seems they have reconsidered their decision and accepted Bitcoin and Bitcoin Cash related payments. Everything about this at the moment is unsubstantiated, although the user is either trolling the platform, or indeed it is true. Maybe Twitch is silently doing it in specific jurisdictions, testing the viability of the decision.

Gaming Yet To Fully Embrace Crypto Amid Volatility

Twitch's decision to do away with crypto wasn't anything new. Several gaming-related platforms had done it before, including Steam whose decision in 2017 stopped Bitcoin payments.

At the time, the price of BTC was spiraling out of control, and everyone was seemingly going crazy about crypto. But according to Stream, the decision had been informed by the BTC blockchain coming under heavy scrutiny given the then high transaction fees. Some users could incur more on the charges compared to the game bought.

The situation hasn't changed much today, and many agree. In fact, almost throughout the year, the costs have remained high, even topping at about $20 per transaction.

Twitch isn't a gaming platform, even though its price points aren't very different. Also, contributors are fond of tipping their favorite channels as a token of appreciation. But the fact that crypto and especially Bitcoin are notoriously volatile makes cryptocurrency payments a lot impossible to compare with fiat.

Do The Masses Motivate The Move?

Twitch could also be accepting Bitcoin payments in the wake of the coin's substantial price gains maintained throughout the year. BTC recently achieved an incredible $200 billion market cap, something which has left speculators jostling with excitement. Its price has been hitting double-digit gains too, a testament to its growing fame.

But even as there's no certainty in Twitch re-accepting Bitcoin and Bitcoin Cash again, a debate is going on. Some Redditors aren't convinced on the practicality of crypto payments in the streaming environment while others are. Those opposing its choice base their arguments on the digital currency's turbulent fluctuation.

If Twitch is doing a silent test on the coins' practicality, then it certainly faces a considerable problem. It has to choose between pushing back on new technology for stability or simply accept it, given that the streaming environment seems comfy with crypto. As for now, though, it will remain a matter of wait-and-see!

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.

Lillian Peter
Lillian Peter
Lillian P has a knack for anything that teases the mind, with a keen interest in the blockchain technology, cryptocurrencies, and anything in between. Can bring to life the most difficult and boring concepts in the blockchain space. Lillian is a brilliant writer working with various publications.

[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

Bitfinex & Tether Class Lawsuit Revised; Adding Bittrex and Poloniex to Alleged BTC Price Manipulation

Revised lawsuit on Bitfinex’s alleged price manipulation of the market using Tether (USDT) during the 2017 bull run to $19,800 has added two...

‘Masked Hero' Calling to ‘Buy Bitcoin' Amidst the Peaceful Protests and Riots in the US

Bitcoin is taking an active part in the riots across America. People are protesting since last week over the death of George Floyd,...

DiversiFi, Formerly Ethfinex, Launches Its DEX 2.0 With Starkware; Processing 9,000 + TPS

Bitfinex sister decentralized exchange, DEX in short, DiversiFi, which relabeled from Ethfinex in August last year, announced a relaunch of their platform, now...

Bitcoin Difficulty Sees 2nd Largest Drop of 2020 to 9.29%; Hashrate & Price Continue to Dance

Today, the bitcoin network difficulty took a drop of 9.29% to 13.73 trillion, as per Coinwarz. This is the fourth downwards adjustment this year after...

Japan’s Top Banks Join Crypto Exchange-Led ‘Study Group' to Discuss Digital Payment System

Three Japanese banking industry heavyweights are joining arms in a study group to focus on digital payment settlement networks in the country. The...

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