How do I make 24/7 Livestreams on YouTube?

SwedenAviator

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On YouTube, I see a lot of people running 24/7 livestreams for like giveaways and stuff like that but I wonder how it is done? I heard people use a VPS to do it? Is there a cheaper and easier way to run 24/7 livestreams on YouTube?

Much appreciated,
SwedenAviator
 

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Moved to the recording / editing / production / software / hardware forum. :)