Valve is reportedly looking to vamp up their PC gaming platform even more by teaming up with Bitcoin for external currency support on Steam. For those of you who may be unfamiliar with what Bitcoin even is, it’s a digital form of currency that can be used as a payment worldwide, regardless of region, click here to learn more.
If the screenshot above, which was taken from Steam’s private developer forums, can be believed then this is a huge step for the digital service. As the screenshot says:
“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.”
So how with this system work for Steam users on a global scale? Since this will be a world-wide accessible service, the currency value will be determined by the region the buyer is based out of. This news will have no affect on publishers or developers – they simply have to keep setting their base value at the rate of their choosing, no different than now, and the external payment provider – Bitcoin – will work its conversion magic instantaneously.
The interesting part about this partnership is that Valve has recently invested a lot of time and money into regional consumer protection laws. Some changes to their policies to protect consumer interest includes the offer now where a refund is readily available for virtually any purchase made on Steam, no matter the reason. The policy as a whole was surprising with how generous it was to the general market. With so many corporate shifts, the implementation of Bitcoin can throw an interesting spin on intercontinental exchange rates and regional monetary boundaries. Newcomers to Bitcoin, cryptocurrencies in general and blockchain technology may want to learn all the basics over on VanillaCrypto. However, if you do know a little about bitcoin and you’re interested in everything to do with cryptos, you may want to look into online casinos that use bitcoin as the form of currency, look at Bestbitcoincasino.org and other sites to find the different casinos in which you can gamble your cryptos.
Only time will tell what the effects of this partnership will be. Besides, we Steam players are too busy trying to play our way through our backlogs in prep for the seasonal sales to even notice.