Report: Steam Bitcoin Support Coming Soon

By   /   Apr 22, 2016
Steam update

It looks like Steam Bitcoin support is coming soon, according to various reports and a screenshot take from Steam private developer forum. Steam announced to developers that it is adding a system that will let devs reach more potential consumers.

Bitcoin is an increasingly popular payment method and Steam recognized that. Users have been asking for its support and if these reports are true we may finally get to experience it.

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We are excited to announce that Steam is going to start accepting payments via bitcoin,” says an update posted to the official developer forums. We’re using an external payment provider to process bitcoin payments to help partners reach more customers on Steam.

Bitcoin is becoming an increasingly popular online payment method in some countries, and we’re enabling a system that insulates partners from risk and volatility while still providing value to the end customer

The Steam user is charged the local currency price on Steam based on his/her region (e.g $49.99). $49.99 will then be converted into Bitcoin based on a daily exchange rate. The user pays in Bitcoin and the process pays Steam with traditional currency.

For devs there is no need to set a Bitcoin price or keep track of daily rates. Purchase price of your product will remain the same.

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Another payment option is welcomed as it will make life a little easier for Global users by making Steam payments more accessible.

Source: Reddit