It has been announced for quite some time now, but bitcoin payments finally arrive on the Global Steam Platform. The updated Steam client comes with built-in bitcoin payment facility.
According to the website bitcoinist.net, every user who updates their Steam client should get the new functionality enabled. The bitcoin payment function on Steam has been made available for users all over the world.
Users can now use bitcoin to add funds to their Steam wallet, and transactions should not take that long to complete, considering that the payments are handled by BitPay. All Steam platform users around the world now have the opportunity to experiment with the popular cryptocurrency bitcoin.
The addition of bitcoin to Steam gaming platform validates once again bitcoin as a global payment solution. This move is of vital importance to the world of cryptocurrency.
Most gamers buy and sell on the Steam marketplace acquired in-game items. The Steam marketplace can also be used in conjunction with bitcoin. Users can purchase any movie, game or application found in the store.
Steam's parent company Valve announced recently in a press release that they made a deal with Lionsgate to make available some of their movies to the platform. The movies may not be available everywhere in the world, but this update has taken place now as well.
On the platform, there will be no bitcoin transactions taking place between users. Payments are added to the wallet in the user's local currency. Users of the Steam platform will only be confronted with bitcoin when it comes to topping up their wallet balance.
According to The Verge, Valve has partnered with bitcoin payment service because it wanted to internationalize its operation. Now it has become easier for Steam users in emerging markets to buy games on Steam platform without using a credit card.
BitPay said in a blog post that, while more users are coming online, traditional payment options like credit cards are often unavailable in developing countries. Bitcoin will allow the Steam gaming platform to be easily reached by gamers in every country around the world with the Internet's universal currency bitcoin.