• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Steam
Nexo Logo

[Updated] Steam Users Can Now Pay for Games with Bitcoin

newsbtc by newsbtc
6 years ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

UPDATE: Following the confirmation by BitPay, it has become clear that Steam is accepting Bitcoin payments. 

Rumors have started surfacing regarding a possible introduction of Bitcoin to the Steam platform. Gamers from all over the world will be familiar with what Steam has to offer; as it is the largest PC gaming platform in the world today. Code snippets of their new beta client were leaked, and there are various references to Bitcoin to be found. Gaming and digital currency come together once again, as this trend has been going on for quite some time now.

Also read: Bitcoin Lending Platform Loanbase Loses Customers’ Funds after Security Breach

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Steam Integrates Bitcoin Payments Through BitPay

Based on the information provided in a screenshot of the Steam beta client code, Bitcoin integration is almost upon us. With various new functions added to the client regarding Bitcoin transactions, it only seems to be a matter of time until one of the world’s largest gaming platform embraces digital currency as a viable payment alternative.

Furthermore, it appears as if all of the Bitcoin transactions will be handled by BitPay, the world’s leading digital currency payment processor. This will help Steam receive their money faster and protect them from any Bitcoin volatility in the process. Plus, this move is also a major feather in the cap for BitPay, as the payment processor has undergone several changes over the past six months.

It only makes sense to integrate Bitcoin payments into the Steam platform. With no risk of fraud, there is far less worry about these payments compared to credit cards.  Also, Bitcoin transaction fees are paid by the sender, and not the recipient, which makes for a far cheaper payment alternative for Valve – the parent company of Steam – itself.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The proper integration of Bitcoin and BitPay into the Steam platform remains shrouded in a bit of mystery, though. One of the code snippets makes mention of opening a new browser window to initiative Bitcoin transactions, indicating how users will have to temporarily leave the Steam ecosystem. Assuming this functionality will be integrated into the mobile Steam client as well, it will be interesting to see if a URI will be included to initiate payments from an installed wallet.

One of the main advantages of using BitPay as a Bitcoin payment processor is how the transaction will be completed even if there are no network confirmations yet. BitPay offers this service to their customers as a way to speed up Bitcoin transfers, which would otherwise take 10 minutes or more. Valve will send an email to Bitcoin users once their payment is completed, though.

Popular Online Game Shops Already Accept Bitcoin

It is not the first – nor the last – time the worlds of Bitcoin and gaming will come together to create a new experience. Throughout 2015, various online stores selling game keys and game cards have started accepting the digital currency as an alternative payment method already. On that list are names such as Kinguin, Greenmangaming, and Gamesplanet.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Keeping in mind how all of these platforms sell a ton of games that need to be activated on Steam, it only makes sense for Valve to accept Bitcoin payments directly. With no financial risk to Valve in doing so, and a chance to attract even more customers from all over the world thanks to Bitcoin acting as a global payment instrument, this seems to be a very smart decision at an opportune time.

Source: Reddit

Tags: bitcoinbitcoin gamesBitcoin Newsbitpaydigital currencyGamesplanetgaminggreenmangamingKinguinNewsSteamURIValve
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Bitcoin

Outflows Rock Bitcoin As Institutional Investor Sentiment Starts To Turn

3 hours ago
Bitcoin Still Very Bearish, Says Peter Schiff

Bitcoin Still Very Bearish, Says Peter Schiff

1 day ago
Bitcoin Funding Rates Remain Positive As Bullish Sentiment Continues

Bitcoin Funding Rates Remain Positive As Bullish Sentiment Continues

1 day ago
Bitcoin

Quant Explains How Bitcoin NUPL Cycles Are Getting Less Volatile With Time

2 days ago
Taro Taro Taro

Lightning Speed: Taro Wants To Abolish Cross-Border Payments, Disrupt The Market

3 days ago
Bitcoin Is An alternative To Economic Condition, Says CEO Of Franklin

Bitcoin Is An alternative To Economic Condition, Says CEO Of Franklin

4 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Celebrities Back IBAT at Battle Infinity Launch Party

August 16, 2022

Go Around the World with 1xBit and Win Crypto

August 16, 2022

Upcoming MetaShooter NFT sale on the biggest platforms on 17th of August! Hidden gem just revealed!

August 16, 2022

Investors Should Buy These Cryptos Today: Uniglo (GLO), Bitcoin (BTC) And Fantom (FTM)

August 16, 2022

Gnox (GNOX) Causing Polygon (MATIC) And Avalanche (AVAX) Investors To Bridge Over After Presale 100% Sold

August 16, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.