3 Reasons Why Streaming is the Future of Crypto
Updated on July 23, 2021 | by Austin
The introduction of Bitcoin revolutionized not only the way we think about currency but the way that we think about the internet as a whole. Early adopters may remember exciting platforms like Bitcoin streaming services that allowed viewers to pay a certain amount of cryptocurrency to be able to watch their favorite creators.
Although offers like this fell through in the past, crypto is once again revisiting some of these concepts, with streaming being an especially attractive way to utilize this technology. Here are three reasons why streaming is the future of crypto.
1. It Gives Content Creators Greater Control Over Their Content.
If you’re a streamer who uses major streaming platforms like Twitch, you know that you’re subject to their rules and at their mercy. Should they find an issue with the content you’re streaming, you can end up losing your account and your income stream. This doesn’t sit well with many creators who use gaming as a way to generate revenue.
Fortunately, many blockchains are decentralized, offering others the ability to develop their own decentralized applications where creators have greater control over their content and the subject matter contained therein (to a reasonable degree, of course). Put simply, crypto has made it so that you can break away from centralized streaming platforms and shift over to decentralized ones.
2. It Opens Content Creators Up to Greater Profitability (Depending on the Crypto Used).
As a streamer, you’re no stranger to the costs of achieving a professional look and setup. For example, if you’re looking for the best lighting for streaming, you’re going to be looking at products like desktop lights and key lighting, ring lights, string LEDs, various bulb strengths and types, and beyond to find the best option for your needs. Beyond that, you have to worry about equipment like webcams, tripods, monitors, and more. The current streaming model may not provide you with enough income to see a profit from your activities.
Crypto streaming platforms would allow you to receive digital currency for your content, regardless of whether you’re receiving Dogecoin, Ethereum, or Bitcoin. Of course, it’s important to know that choosing to broadcast for crypto will result in tax liability on your part. Before you begin using a streaming platform that accepts crypto, look for the best Bitcoin trading strategies (or relevant cryptocurrency trading strategies) to learn what you should be doing with your cryptocurrency once you receive it.
This will help you find the right cryptocurrency exchange, understand technical indicators that tell you when you should be trading Bitcoin, and provide you with a solid strategy to help you make money along the way. Additionally, you should be looking into crypto tax information to understand what you need to report next tax year.
3. It Offers a Better Payment Alternative for Those Watching Live Streams.
For those on the other side of the screen, using your credit card or debit card to pay for live streams is a great way to get your information stolen. When you add your card to a platform, there’s always the risk that your personal information and card information can get stolen. Bitcoin and most other cryptocurrencies, on the other hand, are pseudonymous. But what does this mean?
Rather than storing personal information, the only information that goes out regarding your payments is your public wallet address, which is stored on the universal ledger. Unless hackers should manage to hack your desktop wallet or your chosen exchange, your payment information is much safer, which is crucial if you plan on spending money on the internet!
Cryptocurrency has proven its worth in a host of industries, and industries like streaming are already receiving attention from developers. If you’re a streamer who’s tired of the options you currently have at your disposal, assess the three reasons why streaming is the future of crypto above and look out for potential opportunities for your needs!