Are you looking for places to buy games using Bitcoin? Depending on when you started searching you might have some false starts–all the way back in 2017 the Steam platform ditched its support of cryptocurrency after having accepted it as payment. And that might discourage some (especially Steam loyalists who are also into Bitcoin) but there are other options to consider.
As always, what follows in this space should not be construed as financial advice, investment advice, or tax advice. This is for informational purposes only and invest in cryptocurrency at your own risk.
Where To Buy Games Using Bitcoin
So if a big and influential platform such as Steam won’t deal in cryptocurrency, who will? Third-party sites such as Green Man Gaming have in the past offered Bitcoin support for game purchases; other third party sites such as Bitrefill take a different approach. These sites don’t offer games for direct purchase but rather have (in the past) offered gift cards for the platform you want to play on. Steam doesn’t accept Bitcoin? Buy a Steam gift card through a third party using Bitcoin instead. Read More
How to gift Bitcoin for Christmas? There are a few good rules of thumb for gifting any cryptocurrency (Bitcoin is obviously only one option), starting with one of the most obvious gift-giving hints applicable for ANY holiday gift of Christmas present–make sure the recipient actually WANTS your Bitcoin gift.
If you’re tempted to give cryptocurrency as a gift to someone who is barely computer literate, chances are good you’re wasting your time and money. You may as well buy them a Star Wars: The Mandalorian costume while you’re at it because chances are good it will have the same reaction. If it’s unwanted, your gift is a dud.
But for those who DO want or would be happy to receive cryptocurrency as a gift, here are some practical tips on how to do it.
Is it smart to receive salary in cryptocurrency? Opinions vary, but much depends on how much of your salary is paid in cryptocurrency, the state of the market, and other variables. To begin this discussion, let’s examine two things the federal government of the United States advises consumers about where cryptocurrency goes.
The Nature of Cryptocurrency
The Federal Trade Commission official site reminds us, “Cryptocurrencies are not insured by the government like U.S. bank deposits are. This means that cryptocurrency stored online does not have the same protections as money in a bank account.” That fact alone warns a lot of people off having their salary paid in cryptocurrencies such as Bitcoin or Ethereum.
Do you know how to use Multibit Bitcoin wallet? If you don’t, there’s a very good reason for that. Simply put, you can’t. The Multibit Bitcoin Wallet was, starting in 2011 until roughly 2016, known as being an option for those on Mac, Windows, and Linux who wanted a lightweight or thin client that could open more than one cryptocurrency wallet at a time without the requirement of downloading the entire blockchain.
Does the IRS tax cryptocurrency? Yes, they DO. And if you trade in cryptocurrency, don’t lie to the IRS about it–or ignore their communication with you regarding such cryptocurrency issues.
That’s the latest word from a variety of sources including the Internal Revenue Service itself, which reminds traders, “Virtual currency transactions are taxable by law just like transactions in any other property. Taxpayers transacting in virtual currency may have to report those transactions on their tax returns.”
You read that correctly, consumers are being advised that when the IRS chooses to tax cryptocurrency, they do so with an eye on extra scrutiny on those perceived to be flaunting the rules.