What is a cryptocurrency?

A cryptocurrency (or cryptocurrency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, control the creation of additional units, and verify the transfer of assets.

What does this mean for gamers?

The benefits of this are obvious - gamers will have more options for how they pay for their digital games. With Bitcoin, gamers can buy things in a completely anonymous way. This is important to many players who want to protect themselves from identity theft, credit card fraud, or other threats that come with using credit cards.

The second big benefit is the speed and cost of transactions. Traditional payments systems, like credit cards and PayPal, charge hefty fees when processing transactions - usually around 3-4% of the total payment. But Bitcoin charges only 1% in transaction fees. That means you get more bang for your buck when your paycheck comes through on Steam!

Bitcoin does have some limitations though. It's not backed by any government so if the currency crashes then it's game over (pun intended). So while the benefits are great, it's important to understand that there are also drawbacks that come with using Bitcoin for payment on Steam. Read on to learn more about what you should know before using Bitcoin on Steam!