To support payments in Bitcoin, Twitch is using BitPay’s digital currency processing network.
The leading live streaming platform for gamers Twitch has announced that subscribers who pay with cryptocurrencies will be granted 10% reductions.
Twitch is a foremost live streaming platform for gamers. It was introduced in 2011 as a subsidiary of Amazon.com Inc (NASDAQ: AMZN). Its electronic service allows gamers to stream live games. Aside from this, it enables the streaming of electronic sports competitions, musical communication, creative text, and recently added real lifestreaming.
Twitch has a regular viewer base of over 15 million, 27,000 partner channels and over 2 million people who broadcast live games monthly.
Twitch Uses BitPay for Operation with Cryptocurrencies
The platform had first introduced cryptocurrency payments in 2014 but the system was stopped in the first quarter of 2019. To aid payment in Bitcoin, Twitch is using BitPay‘s digital currency processing network. The system accepts Bitcoin, Bitcoin Cash, Ethereum, Litecoin as well as four USD-pegged stable coins Gemini Dollar (GUSD), USD Coins (USDC), Paxos Standard Token (PAX) and Binance USD (BUSD). Ripple‘s XRP is also accepted.
Paying with cryptocurrencies on Twitch is easy. Users just have to select the ‘Pay with BitPay at Checkout’. The system recognizes the command and enforces a reduction of 10% immediately. Subscribing on Twitch using cryptocurrencies is not only easy and discounted, it also offers the same package with users that use other forms of payment. Subscribers get badges and can follow all their favorite broadcasts.
As confirmed by BitPay Chief Marketing Officer Bill Zielke:
“Twitch is the first major merchant to jump on this trend”.
Twitch is however not the only online gaming site that accepts payments in cryptocurrencies. Other gaming corporations such as Take-Two, (Disintegration and Outer World) and Microsoft Corporation (NASDAQ: MSFT) receive payments from subscribers in coins.
Gaming and Crypto Are Inseparable
Meanwhile, BitPay has expressed excitement at such as major company as Twitch supporting cryptocurrencies as a payment option. Hopefully, others will soon jump on the trend based on motivation. The company believes that cryptocurrency payments and gaming are inseparable.
BitPay announced that using cryptocurrencies for transactions will increase the number of users on the gaming platform, reduce the cost of maintenance, stop all forms of chargebacks, provide faster services for users and offer limitless opportunities.
According to them, this is because cryptocurrencies can be sent anywhere in the world in a matter of minutes.
Chuks is a blockchain enthusiast and finance researcher that has covered the crypto sphere for several years. He believes that the evolving technology would change how we do business.
