Wondering whether Steam accepts Dogecoin as a payment method? We've got you covered.
Dogecoin has quickly become one of the most talked-about cryptocurrencies. Despite its origins (Dogecoin was created as a joke), the cryptocurrency has surged in value since January, hitting a peak of $0.72 in early May.
With that in mind, can this cryptocurrency be used as, well, a currency? Here's all you need to know about Dogecoin and Steam.
READ MORE: Is Tesla accepting Dogecoin?
Can I pay with Dogecoin on Steam?
As of May 2021, you cannot use Dogecoin to pay for games or products on Steam.
Steam has made no specific statements on Dogecoin, but the same logic it used to remove Bitcoin as a payment method in 2017 can be applied to the meme cryptocurrency.
One of the main concerns with Dogecoin, and cryptocurrency, in general, is its stability. Dogecoin has fluctuated between $0.5 and $0.7 in the past few days. It has seen changes of over 25% in a matter of hours. This instability means that as a payment method, it simply is not viable for large storefronts to use.
Along with this, cryptocurrency still have quite high transaction fees. Given games are still relatively cheap compared to other products, and other payment methods are available, it seems like an unnecessary cost to buy a £3 copy of Skyrim.
READ MORE: Does Steam accept Bitcoin: 2021 update
Will Steam ever accept Dogecoin?
It's possible. If you subscribe to the ideology of Elon Musk and believe that cryptocurrency is the future, then it seems inevitable that Steam could accept cryptocurrency as a payment option.
Of course, that view is not shared by everyone. Cryptocurrency is still viewed by some as an unstable currency, in a bubble waiting to burst. Indeed, as shared in this Steam thread, some suspect that Dogecoin/crypto advocates only want to see the currency added as a payment method so it increases the price of the currency.
One thing to note, however, is that even is Steam begins to accept cryptocurrency, Dogecoin will not be its priority. While it gets a lot of attention from internet memes, Bitcoin, Litecoin and Ether have stronger cases for being accepted as viable payment methods, too.