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Twitch offers 10% discount for those who pay in cryptocurrency

Twitch is the first major merchant in the gaming industry to offer cryptocurrency-based discount promotion.

Image by Miloslav Hamřík from Pixabay

Mon, 27 Jul 2020, 13:42 pm UTC

Last year, live-streaming service Twitch removed support for cryptocurrency as a payment method. But it now appears that digital currency is back en vogue in the platform once more as Twitch is even offering a 10 percent discount for subscribers who chose the payment option.

Twitch is offering a 10 percent discount for those who pay with cryptocurrency, according to Bitcoin.com. The publication noted that Twitch is the first major firm to offer a crypto-based discount promotion.

Twitch, which started in 2011, is a service that allows users to live stream. The platform rose in popularity among live-stream gamer and ever overtook the YouTube Gaming streaming service in 2017. The platform currently has around 15 million daily active users, 27,000 partner channels, and 2.2 million broadcasters per month.

Twitch, which is a subsidiary of retail giant Amazon, has tapped Bitpay’s crypto processing system to enable the platform to accept cryptocurrency payments. This arrangement makes it possible for platform users to pay using a variety of cryptocurrency options.

BitPay allows payments in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), ripple (XRP), and the USD-pegged stablecoins USDC, GUSD, PAX, and BUSD. “Twitch is the first major merchant to jump on this trend,” Bitpay’s chief marketing officer, Bill Zielke, said.

Twitch is not the only live-streaming gaming platform or gaming website that supports cryptocurrency payment. For instance, Microsoft and Take-Two are just a few of the gaming firms that accept crypto as payment but Twitch is one of the few that uses crypto in promotions.

“Escape COVID quarantine and live the Sims life,” Bitpay also announced the Twitch promotion on its Twitter account. “Purchase a Twitch subscription with BitPay and save 10%. Subscribe now: https://twitch.tv/subs/ #twitch #twitchtv #quarantine #games #videogames #bitpay #crypto #cryptocurrency”

Bitpay is thrilled to see Twitch start accepting cryptocurrencies once more and believe that the gaming industry as a whole is on its way to accepting crypto assets. The firm also noted that crypto acceptance adds “potential to expand a user base, it lowers costs, eliminates chargebacks, offers speed, and is borderless,” Bitcoin (BTC), Ethereum (ETH), and other crypto-assets “can be sent anywhere in the world in minutes.”

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