There are plenty of payment methods on Steam such as credit & debit cards, PaySafe cards, PayPal and even some local equivalents. Unfortunately, today one of the less popular payment methods, Bitcoin, leaves this family until the rate gets stable. For those of you, who have not heard anything about Bitcoin, it is a decentralized digital currency which is famous for its anonymity and often connected to illegal activities on the internet.
And where is the problem? Over the past one-and-a-half-week Bitcoin's price has increased multiple times, which makes a good profit for current Bitcoin holders and investors, but that also comes with a toll that is not beneficial for Steam and its users; increase of transaction fee! Thanks to these jumps of Bitcoin lately, Steam customers might have ended up paying up to 9$ per transaction. That’s not the only problem though because by the time the transaction gets accepted by the Bitcoin blockchain, the value of the Bitcoin can change again resulting in a huge loss for both sides.
In this case, there are only two possible options; sending the Bitcoin back to the customer (Steam would have to pay the transaction fee) or asking the customer to send the missing amount (customer would have to pay the difference & the transaction fee again). None of these options are however ideal because the same thing might happen again and again stacking the high fees which would make the total amount of sent Bitcoins much higher and more expensive than buying it via any other payment method. That being said, Steam has decided to remove Bitcoin as a payment method until the fees and rate get more stable as well as more suitable for transactions.