Twitch, one of the most popular streaming platforms has made it possible for streamers to accept cryptocurrency “tips” by using the company’s streaming app, Streamlabs . This Friday the streaming giant announced their live stream operators can now accept cryptocurrency donations from their fans, using Coinbase as the payment processor. Streamers will have to connect the service to their Coinbase accounts, which will automatically allow users to utilize the payment option.
The service will initially support Bitcoin, Ethereum, Litecoin, and Bitcoin Cash the four cryptocurrencies supported by Coinbase. Streamlabs will be looking into adding other coins in the future.
Streamers do not have to pay a fee to use the service, but they will incur transaction fees if they decide to sell the coins for fiat on Coinbase.
According to Newzoo, Twitch users streamed more than 2 billion hours of content during the first quarter of 2018, and approximately 15 percent of Twitch streams are via Streamlabs OBS. Streamlabs also supports other streaming platforms, including YouTube, Mixer, Facebook Live, Periscope, and Picarto. The company says that it paid out more than $34 million in tips during Q1. This new implementation could become a meaningful increase in Coinbase users as the streaming service’s popularity rises.
by Samuel Larreal