Twitch.tv, a live video platform owned by Amazon, eliminated its payment option with cryptocurrencies for subscriptions.
A user of Reddit published the news and said that, although Twitch had allowed users to pay in Bitcoin and Bitcoin Cash through the payment processor Blockchain Bitpay, the option was eliminated in recently for all countries.
A Twitch tweet dating from last January indicates that Bitcoin was one of the accepted payment options, among other methods that include Amazon Pay and Apple Pay. You can see the tweet image referred to here:
However, its terms and conditions currently state that the company accepts:
The main credit cards, certain debit cards, PayPal, various methods of payment through Xsolla or any other payment method that we may make available to you from time to time through our site, as payment methods.
In turn, another Reddit user commented that he had sometimes used BCH as a payment option for subscriptions. But with Twitch eliminating the option, he canceled all subscriptions and notified the company.
Bitcoin and its cons
While cryptocurrencies have been widely promoted for having a strong potential role in online payments. Problems such as price volatility have sometimes frustrated the best intentions of the traders trying to offer the option.
Microsoft, for example, suspended payments through Bitcoin in its store in January of last year, citing instability. However, they were later reinstated.
In turn, the online gaming platform Steam also eliminated its payment function in bitcoins at the end of 2017. Citing chronic problems with high transaction fees and the volatile price of cryptocurrency.
Finally, it is worth noting that the average rate for a Bitcoin transaction has been significantly reduced from the maximums observed in 2017-2018.
Also published on Medium.