Bitcoin

How to buy games on Steam using Bitcoin

steam is the most notable video game publisher on the planet and also has a history with bitcoin. While as of September 2021, the service does not directly accept cryptocurrencies, users still have many options to get their Steam games with cryptocurrencies. read our article and learn how to buy games on steam with bitcoin.

keypoints:

  • steam does not accept bitcoins directly on its platform.
  • players can still buy steam games with bitcoins by purchasing game keys from third-party sellers.
  • players can too you can get steam gift cards with bitcoin from different online stores.

can you pay with bitcoin on steam 2021?

Can you pay with Bitcoin on Steam 2021?

As already mentioned, Steam does not support Bitcoin payments. Nevertheless, in the past, Steam was one of the biggest companies accepting Bitcoin. In April of 2017, Steam announced that it was going to offer a Bitcoin payment method to all of its clients. Unfortunately, the story ended in December of the same year when the company removed Bitcoin payments from its platform.

Reading: Does steam accept bitcoin

Since 2017, the company has not tried to implement bitcoin payments again.

why does steam support or not support bitcoin in 2021?

according to the official statement, volatility and high fees were the main reasons for steam’s decision in 2017.

Basically, the price customers had to pay in bitcoin fluctuated in a matter of minutes. As a result, Steam had to compensate its customers for the difference in price change or ask them to pay more if the price went down. both scenarios involved sending an additional transaction that also involved a fee. the company was not able to find a suitable solution to the problem. therefore, the decision was made to abandon bitcoin payments.

See also: A 29-year-old CEO is pushing crypto during the Super Bowl by giving away millions in bitcoin

It is possible to assume that nowadays the steam administration still considers opening the way for crypto transactions too problematic due to the high volatility and fees of bitcoin.

when will steam support bitcoin again?

When will Steam support Bitcoin again?

It is unclear when and whether Steam at all is going to accept Bitcoin. Yet, by now, one problem, namely, high transaction fees, has been solved by the crypto industry. In order to lower transaction fees and increase their speed, Steam can utilize the Lightning Network. As for the volatility, it is an inherent characteristic of Bitcoin’s price trends, at least for now. Potentially, Steam could simply provide a shorter payment period. In other words, Steam could introduce a mechanism that would give clients only 2-3 minutes to make a payment.

In addition to bitcoin, there are many other crypto alternatives that steam may choose to implement. for example, stablecoins like tether do not fluctuate in price.

how to buy steam gift card with bitcoin?

How to buy a Steam gift card with Bitcoin?

Even though currently Steam does not accept Bitcoin payments directly, gamers can still buy Steam gift cards with Bitcoin without any obstacles. Steam issues its own gift cards, which have different values. Each card has a code that can be redeemed on Steam’s website. Essentially, you enter the code from your card and receive a sum of money that you can spend on Steam games.

There are several online stores that sell steam gift cards for bitcoin and other cryptocurrencies. For example, bitrefill and coinsbee are two popular platforms where you can make a bitcoin purchase with a steam card and use it to get games on steam.

alternatives to steam accepting bitcoin

Alternatives to Steam accepting Bitcoin

See also: Is Dogecoin the Next Bitcoin? | The Motley Fool

Additionally, there are many platforms that sell Steam games for Bitcoin. For instance, G2A is a good example of a website that features thousands of games and lets clients pay with Bitcoin for them. Such websites have another advantage, they maintain low prices and always offer great deals.

basically you can pay for a game key on g2a and redeem it to get this game on steam while saving several bucks on your purchase. Since there are dozens of websites selling game keys for bitcoin, players are unlikely to experience any inconvenience due to the inability to use bitcoin on steam.

how to charge crypto payments like steam

If you own an online store that sells video games or any other product, you can gain a competitive advantage by offering crypto payments. crypto invoices are one of the easiest tools to use to collect crypto payments from customers. crypto invoices contain information about transaction details, making it easy for your customer to pay for your products with bitcoin or altcoins. If your eCommerce store is implemented on WooCommerce, Shopify, PrestaShop or other similar platforms, you can make your crypto payments automatic by introducing a Crypto Payments plugin.

steam streamers or bloggers often receive donations from their audience. nowpayments cryptocurrency donation widgets, buttons and links can allow your fans to make donations in cryptocurrency.

conclusion

steam is, of course, the largest and most influential game publisher on the planet. at one point, the company accepted bitcoin payments, but eventually had to drop the service due to high transaction fees. Today, Layer 2 solutions such as the Lightning Network can at least partially solve the challenges of the Bitcoin blockchain and allow Steam to reintroduce Bitcoin payments. For now, people who want to buy steam games with btc can use gift cards and game keys.

See also: 5 Best Bitcoin Transaction Accelerators – CoinDiligent

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