Twitch lately have been quite popular for streamers who love gaming. There are even people who moved to gaming as their careers as they were earning quite well with the online streaming thing. There are different genres available in-game streaming which can help you to get an amazing follower base. Donations are another way you can start earning using Twitch. Today we are going to talk about setting up Donations on Twitch, so your lovely subscribers can donate some amount for you, to keep your channel running.
The donation is not only useful for the established channels, but also for others as it will help you to gather money to get better equipment and games to feature on your channel. Let us start with the basics involved in setting up donations on twitch.
What are Twitch Bits?
Bits or cheers are the official donation system values for Twitch donation. It has to be complicated than the real money donation as it involves some other currency than you must be dealing with. Everyone can purchase twitch bits with the help of Amazon payments. Although there has been a way to send real money in donation it is only available to Affiliates and Partners.
To send these bits you can simply use the trigger to make the special audio and visual alter when you are awarded by a bit by someone. When you donate a bit you get a special batch on the chat screen and hence you can easily be highlighted. Twitch streamers get only 1$ for every 100 bits which are used on a particular stream.
- If you are a Twitch partner or Affiliate Channel you will have to open the Partner settings which is found on the tab on your dashboard.
- There is a highlighted settings panel named a Cheers you will have to enable Cheering with Bits.
- Now you will have your viewers the capability to send you bits in your live stream by typing cheer, and if they want to send more bits they can use cheer5 or cheer100 based on the number of bits they want you to be cheered with.
PayPal Donations on Twitch
There is no official support from Twitch for PayPal donations, but it has been a better way than the bits or cheers, as this involves real money to be donated and the exact amount is received by the creator. There are different ways to promote your PayPal link for donation, one is using PayPal email id to request for donations via a written format.
You can even use the PayPal.me link. Some other ways which can boost your donations are mentioning the URL in the chat so people can click over it and proceed to checkout. One other way is to add up a Twitch Channel donation section, where you can add customized title and description and then add your link and other details required for a donation.
Bitcoins & Cryptocurrencies
These are other hyping currencies. You can easily send and receive these when you need to get. Bitcoins are easy to transfer as they have minimal transaction fees, speed, security, and many other benefits. In order to set up the same follow these steps and receive donations via Bitcoins also.
- Open your cryptocurrency wallet, there are many different wallets available to store bitcoins, make sure they are genuine and charge minimal amount as transactional fees.
- Now click on Receive button or the link to get your code or address with which you can receive your donations.
- Now create a donation page as we talked about in the PayPal donation section, or if you have done already use the same page to add your wallet address into the same. Also, label type of bitcoins you are accepting as you cannot send Ethereum to a Litecoin wallet and a Litecoin to Bitcoin wallet.
- You can even add the QR code from the app and paste the screenshot on to the donations page, this will help users to donate an amount to you without the hazel of copying the code.
Should you accept Twitch Donations? Are they taxable? How to prevent Chargebacks?
Accepting Donations is not an easy task and you have to keep a lot of thing in mind before starting to accept donations. One of the main key things is that you must be starting donations or not. Streamers have this as one of their key earnings. As streamers gain follower they must start accepting donations as this will help them grow and get more followers.
Another important thing is about taxes if they are involved with the earnings, then it is a big yes in all different countries who tax any one’s earning. As this is a valid source of earning you will have to pay tax on the amount you earn via Twitch.
If you are using PayPal for taking donations, then you must see if there is no one charging back on you, it is usually done when there is a fraud with someone for any kind of transaction. The scams where you get a large amount of money, and later the person charges back the amount is popular, and you cannot do much for the same. You must mostly focus on bits and cryptocurrencies as they are something which cannot be charged back and taken back from you.
You must keep on encouraging your viewers for donating an amount for you. If you still have any problem or question in regards to Twitch Donation then you can surely comment your issue in the comment section below, and we will try to solve the same. Have you been taking donations? If yes do you pay taxes on the same? Do let us know about the same in the comments, also comment some of the best streamers who you are following and have donated to them so far.