Twitch No Longer Accepts Crypto Payments

One of the most popular streaming platforms Twitch.tv and stopped accepting payments through Bitcoin and Bitcoin cash. This move was quietly executed and no prior notification was provided to the users. Notably, Twitch has more than 15 million daily active users as of May 2018.

This move by the company was first pointed out on a Reddit post where users pointed out that they weren’t able to pay for subscription using cryptocurrencies. While there were quite a few users who weren’t aware that the streaming site accepted crypto payments, others decided to cancel subscriptions as a means to show their displeasure.

There has been no clear indication by the company as to why this payment method was revoked, however, it is speculated that a low transaction value might be the likely cause of this change.

The company had added the option to use cryptocurrencies in mid-2018, enabling them to pay for their favorite streaming channels using BTC, BCH, ETH, and LTC.

It is believed that this move followed StreamLabs, a platform that provides various platforms a complete suite of software to help manage live feeds, content, and donations. It is interesting to note that the platform also helped companies accept donations in cryptocurrencies.

As per another Reddit thread, StreamLabs was also found to have dropped support for cryptocurrencies. It’s important to note that a video game streamer was gifted more than $70,000 in Bitcoin earlier this year on Twitch.

Similar moves have been taken in the past when crypto payment support was temporarily dropped amidst technical difficulties. In fact, Chess.com recently reported on social media that it was unable to accept payments over 100 BTC over problems with its payment processor. 

This news was originally published on CryptoGlobe.com.