About streaming on youtube: I tried it first time yesterday. I use OBS as encoder and it was just to go into settings and choose youtube instead of Twitch. Then setup the stream from you youtube to get a streamkey that I then paste into the OBS setup. Believe I had to start and stop in both OBS and youtube studio, but there seemed to be a setting in youtube studio to have this on auto to be controlled from OBS.
And yes, first you have to activate streaming and wait 24 hours.
Quality seems fine, but for me the lag was about 20 seconds, which seems a lot more than for Twitch streams (I believe).