Valve and BitPay have announced that Steam users can now buy their digital games using Steam Bitcoin.
In a blogpost by BitPay’s Rory Desmond, Mr. Desmond stated that Valve reached out to them because the company was looking for a fast, international payment method in emerging gaming markets.
Steam Bitcoin Payment Method
He continued that as the internet’s universal currency, Steam Bitcoin will allow Valve to reach to a wider audience without the high fees or risk involving chargeback fraud:
Valve reached out to us because they were looking for a fast, international payment method for Steam users in emerging gaming markets in countries like India, China, and Brazil. While more users are coming online in in these countries, traditional payment options like credit cards often aren’t available. As the internet’s universal currency, Bitcoin will allow Steam to easily reach gamers in every market around the world – without the high fees or the risk of chargeback fraud that come with card payments.
Whether they’re hardcore gamers or first-time players, Steam’s players deserve a faster, safer payment method. With Steam’s bitcoin integration, customers will be able to use any bitcoin wallet to scan, pay, and get back to gaming in seconds without having to provide sensitive financial information.
While I have my reserves regarding the supposed risk-free Bitcoin payment method, it is true that BitPay will allow more and more users gamers in emerging markets to make Steam purchases.
What are your experiences with using Bitcoin so far? Would you recommend it to others? Let us know in the comments section below!