Good proxies can improve your connection speed for streaming.
By routing your traffic through a proxy server, you can experience faster internet speeds compared to traditional connections.
However if you get an overloaded proxy server it can cause slower streaming speeds.
You can use proxy servers to increase internet speeds and even save on bandwidth by caching web pages and files that are accessed by multiple users, compressing traffic and even blocking ads from websites.
It's true that a proxy server can slow down your connection speed, but gaming proxies will reduce your ping if you choose a server that optimizes data routing.
They also let you bypass geo restrictions and play early access games that are yet unavailable in your country.