Twitch App StreamLabs Allows for Cryptocurrency Tipping

StreamLabs, the popular twitch streaming app, will now allow users to tip streamers with cryptocurrency as announced Friday, June 1. The service allows live streaming operators to accept donations from their fans in the form of cryptocurrency.

StreamLabs intends to use Coinbase as their main payment processor. In order for the streaming operators to receive these donations, they’ll need to connect their Coinbase accounts to the service. StreamLabs will initially support Ethereum, Bitcoin, Litecoin, and Bitcoin Cash. The company also stated that it will be looking into adding other cryptocurrencies in the near future.

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It’s also worth noting that streaming operators will not incur a fee for utilizing the service however when they decide to exchange their cryptocurrency for fiat, they will incur a small Coinbase fee.

Twitch streamers can also accept cryptocurrency tips by registering as publishers on the crypto powered web browser Brave.

According to NewZoo data, users of Twitch streamed more than 2 billion hours’ worth of gaming experiences in the first four months of 2018. 15% of twitch streams are now created utilizing the StreamLabs app.

The company states that they paid out more than $34 million in tips during the first quarter of 2018. Twitch is now owned by Amazon who has also been known as crypto friendly since 2014. The retail giant has been accepting Bitcoin payments for their Prime subscription since this time.

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