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Steam cancels Bitcoin payments due to high volatility

Steam cancels Bitcoin payments due to high volatility
07.12.2017  |  in Bitcoin

As the media suggests, Steam introduced Bitcoin payments when the price of this cryptocurrency was about $450 for a coin, but since then, its price has reached $14,000 and is currently moving towards $15,000. Quite possibly, BTC will worth 15K by the end of this day.

Steam, a platform that sells different computer games and DLCs for them, always tried to distance itself from questionable activities. For example, when it became clear some websites are playing roulette with the gamers’ items, the platform swiftly posted a message telling that they do not support this. The current rise of the BTC price might look questionable for someone in Valve Software (a corporation that created Steam), and they decided to disable this function:

“Steam will no longer support Bitcoin as a payment method on our platform due to high fees and volatility in the value of Bitcoin.”

Also, the cost of transactions has risen dramatically, which, according to Valve, makes it unreasonable to buy games via this means of payment. This, by the way, is the reason why Bitcoin Cash emerged in the first place — its supporters tell that transaction fees are not as high there.

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