Steam refuses to accept payments in bitcoin

They have persistent problems with the passage of crypto-transactions and the changing price
07 December 2017   1170

The popular gamer online platform Steam reported the problems with crypto transactions and the unstable price of crypto currency, including bitcoin, as well as that it refuses crypto payments.

In range of cases, customers send moneys only to come up short due to the U.S. dollar conversion. If company would asked to send the  transaction to cover the difference, this user would have hit with another fee. That's why the bitcoin payment option has become "untenable" for Steam. But the company promising to continue working to resolve any pending issues for customers.

For example, transaction fees that are charged to the customer by the bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled bitcoin). Unfortunately, Valve has no control over the amount of the fee. These fees result in unreasonably high costs for purchasing games when paying with bitcoin. The high transaction fees cause even greater problems when the value of bitcoin itself drops dramatically.


From the Steam’s statement

Also in the future Steam promised that it could move to accept the cryptocurrency again. It is noteworthy that after this announcement, BTG offered Steam to accept Bitcoin Gold instead of BTC as payment and promised that the commission for the transaction would be less than 0.01.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   141

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.