Steam stops accepting Bitcoins for payments, citing high fees and volatility
And probably you are now regretting that you didn’t invest on its earlier days, so much because Bitcoin was that cheaper before compared to nowadays.
On a blog post, Valve made the announcement citing ‘significant increase in the fees to process transactions on the Bitcoin network,‘ topping out at close to $20 a transaction last week (compared to roughly $0.20 when Bitcoin was initially enabled).
Valve also cited that Bitcoin’s degree of volatility has become extreme in the last few months, losing as much as 25% in value over a period of days
“The high transaction fees cause even greater problems when the value of Bitcoin itself drops dramatically.” – Valve
Valve began accepting Bitcoin on its Steam service in 2016who might not have access to traditional payment options.
What do you think of this move by Valve? Should they return Bitcoin as a payment medium? Let us know in the comments section below!
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