If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.

Steam to start accepting Bitcoin - report

Valve will soon implement Bitcoin as a form of currency on the Steam store.

steam_monster_summer_sale_2015_encore_day_header

Steam to start accepting Bitcoin - report

The Steam storefront is going to start accepting Bitcoin payments in the near future. Initially reported by PCGamesN, Valve has revealed the move to developers on the Steam developer forums.

These forums are not accessible to the public, but a screenshot of Valve's post has since appeared on Reddit. The company is using an "external payment provider" to process Bitcoin payments, according to the post.

"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," wrote Valve.

Customers who wish to use this option will be charged the price already set in their local currency. The mediator will then convert that amount into Bitcoin based on a daily exchange rate.

"So the user pays [the amount] in Bitcoin, and the [payment provider] pays [Valve] in traditional currency. At no time does Valve receive or hold Bitcoin," continued the post.

According to Valve, this process removes the need for developers to keep track of Bitcoin prices, while at the same time makes their games available to buy using one more currency.

Valve did not reveal a date as to when this feature will become available, or whether it'll be limited to certain countries. Given that Valve has already notified developers about it, it's probably not far off.

Tagged With

About the Author

Sherif Saed avatar

Sherif Saed

Staff Writer

Whether it's news, reviews, or interviews - Sherif is always eager to tell you about video games. He plays shooters more than a sane person should, and occasionally has the skills to show for it.

Support VG247

You give us money, we give you an ad-free reading experience, merch discounts, a newsletter every month, and elite status amongst your friends.

See more information

Comments

More News

Latest Articles

VG247 logo

Buy our t-shirts, yeah

They're far more stylish than your average video game website tat.

VG247 Merch