Can a cryptocurrency payment option give a streaming service an edge?
Sling TV is giving it a shot — albeit with a host of limitations, at least initially.
The service has begun taking a variety of cryptocurrencies for monthly subscription payments only.
Sling is using global blockchain payment provider BitPay to process payments, and accepting most of the currency options supported by BitPay, including Bitcoin, Ethereum, Dogecoin and five USD-pegged stablecoins (GUSD, USDC, USDP, DAI and BUSD).
Using BitPay requires having a crypto wallet, with cryptocurrency uploaded, from BitPay or one of the currencies it supports.
Users must first have a Sling account that was opened using U.S. dollars.
Also, at present, there is no automatic recurring payment option: Cryptocurrencies can be used only for manual prepayments of one to six months’ worth of fees.
In addition, Sling is requiring that a credit or debit card be kept on file as a backup payment method.
Sling TV has created a support page explaining the cryptocurrency payment process.
The guide cautions would-be users that it can take up to 24 hours for payments made with BitPay to settle and extend the subscription.
It also spells out that cryptocurrencies cannot be used for pay-per-view or other one-time purchases, during free trials or promotional offers, to pay past-due accounts, or for restarting accounts that are on pause.
Got all that?