Recently, Valve quietly announced that they are accepting Bitcoin on Steam, their online game store. Over the course of these few months, Everyone speculated whether Gabe Newell, co-founder of Valve was planning to implement Bitcoin via BitPay into Steam.
Just yesterday, April 25, 2016, someone posted their first Steam purchase on Youtube and shared it on Reddit. While it is so far only available in the United States, we were unable to find out whether Valve will be bringing BitPay support to Canada or Europe.
Lately, with the new Bitcoin-accepting Valve, gamers in the US are really enjoying themselves with their top-ups and purchase invoices all paid in Bitcoin. I am just sitting here, on my laptop, looking at Reddit’s /r/bitcoin and the number of Bitcoin transactions on Steam.
Even though Canada is a Bitcoin utopia, especially in Toronto and Vancouver, Valve might have forgotten about their neighbors to the north who host one of the greatest collection of Bitcoin businesses in the world.
Now, back to Steam and Bitcoin. With Steam accepting Bitcoin, users can now not just buy games but also software and even rent out movies after Valve announced their partnership with Lionsgate which will allow Steam users to rent movies for $4-6 for 48 hours so, that is another way you can use your Bitcoin!
Valve isn’t the only one joining the Bitcoin bandwagon, e-commerce stores such as Shopify, Newegg and Overstock have already joined in, thanks to BitPay which allows their clients to either keep their revenue as Bitcoin or exchange instantly for fiat currencies such as the US dollar.
What do you think? Did Valve make the right choice? Should Netflix do it? Questions? Ask away!