Twitch.tv, Amazon video streeming platform, disables crypto payment options

The Amazon-owned video streaming platform, Twitch, suspended the use of BitPay, a Blockchain payment processor that allowed users to make payments using Bitcoin Cash (BCH) and Bitcoin (BTC).

Currently, Twitch accepts payments through credit cards, PayPal, debit cards (though not all), and Xsolla.

The removal of BCH and BTC as payment options has made a number of subscribers to cancel subscription especially those who only made payments through the cryptocurrencies. There have been reports of several Redditors canceling their subscriptions and we could see continued unsubscription if the blockchain payment methods are restored.

Although the primary reason behind the move is not known, there are speculations that it could be as a result of the price volatility issues with cryptocurrencies and especially at such a time when cryptocurrencies are in recess. Actually, Twitch is not the first to suspend payments using cryptocurrencies.

Other similar blockchain payment suspensions over the past years

In January 2018, Microsoft, one of the leading software developers, suspended BTC payments, citing instability with the crypto-coin though it later reinstated it. Also, in 2017, we saw Steam, an online Gaming platform, drop BTC payment methods due to the high transaction fees and its volatility in the market.

We await to see if Twitch shall consider reinstating the cryptocurrency payment options or it will close it completely, though it stands to lose quite a large number of subscribers.