Top gaming platform Steam to accept Bitcoin payments

Steam, the world's largest comprehensive digital game software distribution platform, will soon support Bitcoin payments, according to a netizen who claims to be a Steam game publisher. The following is an email the netizen received:

We are pleased to announce that Steam will begin accepting Bitcoin as a payment method.

We use external payment service providers to process Bitcoin transactions to help partners attract more customers on the Steam platform. Bitcoin is becoming an increasingly popular online payment method in some countries, and the system we use can isolate partners from the risk of Bitcoin's price fluctuations while still bringing value to customers.

You don’t need to take any action, if a customer chooses to pay via Bitcoin they will still be priced in their local fiat currency, here’s how it works:

1. Users pay Steam in their local currency (e.g. £29.99) depending on their region.

2. The payment processor will convert the £29.99 into the equivalent amount of Bitcoin based on the daily exchange rate, so the user is paying in Bitcoin, but the payment processor still pays us in traditional currency. Valve (the operator of Steam) does not receive or hold Bitcoin.

3. There is no need to set a Bitcoin price, or track the price of Bitcoin. The price of the product you purchase will not change.

We're looking forward to this update, and we think it will make Steam even better. If you have questions or concerns, please contact us.

It's not groundless

As early as February this year, there were reports that Valve might plan to add Bitcoin payment methods to the Steam gaming platform.

This rumor is not completely groundless, and of course it has not been officially confirmed by Valve. A netizen from the Reddit community exposed an information code of the Steam transaction server, which shows the processing entries and codes related to Bitcoin payments. Steam may accept Bitcoin certified by BitPay.com as a payment method.

User comments

MarchewkaCzerwona: Ok, I feel the need to go buy something :)

ToTheMoonGuy: Earthwood!!! ┗(°0°)┛ ..○

homopit: Wait a minute, this is just a screenshot, is this news true or false?

dryadofelysium: It's true https://twitter.com/SteamDB/status/723230754113724416 SteamDB is a reliable source.

platinum_rhodium: I was just told that Bitcoin is dead.

nad48: There are thousands of zombie games on Steam.

bitcoiner101: I can't breathe!

olivercarding: The news has been 100% confirmed https://twitter.com/CoinJournal/status/723359756589518848

CoinJournal: We have received official confirmation from Valve, confirming that the letter was sent by them to developers and game publishers.

Compiled by: Satuoxi
Source (translation): Babbitt Information (http://www.8btc.com/steam_bitcoin ‎)