‘50% of transactions were fraudulent’ when Steam accepted Bitcoin for payments, says Gabe Newell

Steam wasn’t on the Bitcoin train for long. Bitcoin was introduced as a payment method on Steam in April 2016 and removed in December 2017 due to the volatility of Bitcoin’s price and “a significant increase in the fees to process transactions on the Bitcoin network,” Valve wrote at the time. More recently Valve raised the ire of crypto fans by banning crypto and NFT games from the store. Last week while talking to Valve president Gabe Newell about the Steam Deck, I also asked about that rule and his take on cryptocurrency in general. 

Turns out: Not a fan, at least when it comes to Steam.

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