In a recent report, it was revealed that Amazon-owned live streaming video platform, Twitch.tv no longer have the option of paying for a subscription using cryptos.
Twitch.tv Once Allowed Payment Using BTC & BCH
Twitch has previously allowed users of its platform pay for a subscription using bitcoin (BTC) and bitcoin cash (BCH) through blockchain payments processor Bitpay. However, according to users of the platform, for the past few weeks, the platform has removed this pavement option.
Going by a Tweet made from Twitch.tv verified account some weeks back, Bitcoin was listed as one of the payment options available to its users.
As of now, the firm’s terms and conditions state that it accepts “major credit cards, certain debit cards, PayPal, various payment methods through Xsolla and/or such other payment methods we may make available to you from time-to-time through our site, as forms of payment.”
Confirming the exclusion of crypto payments from its list of options, users of the popular social bookmarking platform, Reddit, further confirmed that his company normally pay for the subscription on the platform using BCH. However, some weeks back, their subscriptions were cancelled and they were notified by Twitch that the option is no longer available.
Instability and High Transactional Fees
This removal of crypto payment option is coming at a time where the market has become a little bit stable and less volatile than it was earlier on. In the past, issues such as price volatility have affected the adoption of crypto by well-meaning tech giants. For example, Microsoft, suspended bitcoin payments on its store last January. The tech giant citing “instability.” However, Microsoft promises to reinstate the option as time goes on.
In the same light, online gaming platform— Steam also dropped its bitcoin payments feature in late 2017. The platform cited high transaction fees and volatile price as the main problem.
It is important to note that transitional fees on bitcoin transactions are currently the lowest ever recorded.