Amazon-owned streaming giant Switch might accept your bitcoin, again. | Source: Shutterstock

Streaming giant Twitch may just be re-enabling crypto payments, months after phasing it out. A Canadian user of the hugely popular online streaming service is reporting that Bitcoin and Bitcoin Cash payments have been re-enabled on the platform.

CCN outlined earlier this year how the Amazon subsidiary quietly ditched all crypto-related payments presumably due to tax-related issues.

Crypto payments seem to be re-enabled
Crypto payments seem to be re-enabled, at least in Canada. Source: Reddit.

There has been no official announcement from Twitch regarding the move and this contributor was not able to choose cryptocurrency in the “More Payment Options” suggested by users of the thread.

Supposedly both Bitcoin and Bitcoin Cash have been re-enabled. Either the user is trolling or Twitch is quietly re-enabling cryptocurrency payments in select countries to test its viability once again.

Gaming Still Unsettled by Bitcoin’s Volatility

This isn’t the first time gaming-related platforms have removed payment options in crypto. Steam announced it would no longer support Bitcoin payments in 2017 as cryptocurrency prices spiralled out of control.

At the time, the Bitcoin blockchain came under heavy strain as users flocked to buy and sell Bitcoin among the frenzied speculation. Steam reported transaction fees that sometimes cost more than the actual game being purchased.

For example, transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week

And while Twitch is all about streaming, the price points are very similar. Many contributors like tipping small amounts to their favorite channels. How viable will that be if transaction fees spike again?

One Bitcoin volatility index suggests that Bitcoin is fluctuating around 3.5% a day. This makes any stable comparison with fiat currencies extremely difficult.

Bitcoin volatility index. Twitch re-enabling crypto payments
Bitcoin volatility index. Source.

Appealing to the Masses

The move may also be linked to Bitcoin’s solid price gains this year as it recaptures the $200 billion market cap and the hearts of speculators everywhere. Cryptocurrency like any other trend shifts in popularity particularly when prices are grabbing double-digit gains.

The Reddit thread is heavily debating the practicality of crypto payments in such an environment.

How can anyone think btc is a good currency when it fluctuates so much. Are we just that arrogant?

Twitch clearly faces a problem. Push back on new tech for stability or embrace it in the name of a demographic that is completely comfortable growing up with it. Is Twitch re-enabling crypto payments? We’ll keep you posted as the story unfolds.

You May Also Like

Holders of Over 11 Million Bitcoin are Proving That Hodl Is Not Just a Meme

HODL is such a popular trading strategy in the crypto community that…

Here Are the Absolute Best Ways to Spend Christmas as a Gamer

Here is a a definitive list of the best gaming-related Christmas media on the market. You’re welcome.

CD Projekt Red Leaves Gwent Console Players High & Dry

CD Projekt Red announced today it is axing support for its digital collectible card game Gwent: The Witcher Card Game on console.

American McGee’s YouTube Copyright Strike Shows How Bad the System Still Is

American McGee has been copyright claimed for playing his own game on his own YouTube channel.

Bitcoin Moves Staggering $8.9 Billion USD in Single Record-Setting Hour

In a single hour, the Bitcoin network processed $8.9 billion in transactions, showing a glimpse of how BTC could perform as a store of value.

Xbox Chief Phil Spencer Flexes With Project Scarlett Humble-Brag

Xbox boss Phil Spencer has a Project Scarlett console at home and is having a great time of it.