Twitch quietly removes Bitcoin as subscription payment method

Streaming service has removed blockchain payment processor BitPay from its site, effectively cutting off deposits using cryptocurrency

Live-streaming powerhouse Twitch has removed Bitcoin and Bitcoin Cash payment methods for its subscription service.

The Amazon-owned company’s decision came to light on Saturday when a Reddit user noticed that BitPay, a blockchain payment processor, had been removed as a payment option for all countries.

Twitch did not update customers on the removal, but its terms and conditions state that it will make “other” payment methods available “from time-to-time”, suggesting that crypto payments were only a temporary measure.

The removal highlights an ongoing issue between merchants and cryptocurrency, with heightened volatility often seen as a risk to retailers receiving payments in the form of digital assets.

In late 2017, gaming platform Steam also removed Bitcoin and cryptocurrency payment methods, once again citing volatility and high transaction fees.

Another Reddit user took action against Twitch’s decision to halt crypto payments by cancelling 29 subscriptions to streamers, with each subscription worth £4.99.

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Twitch silently removed Bitcoin and Bitcoin Cash as a payment method for subscriptions from btc

The user wrote: “Well, I’m taking action now, cancelled all my subs and sent them a ticket,” before adding, “Sometimes I’ve subbed using BCH (Bitcoin Cash).”

Another streaming service, StreamLabs, which allows users to stream simultaneously across YouTube, Twitch, and other platforms, also removed BitPay as a payment method.

While some major merchants like Twitch are moving away from cryptocurrency payments, there is still a wealth of online and high-street stores that accept Bitcoin.

According to this list, the likes of KFC Canada, Playboy, Subway, Microsoft, and Virgin Galactic are among the hundreds of stores that accept Bitcoin.

Coin Rivet has reached out to Twitch for a comment and will update this article accordingly once a reply is received.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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