Microsoft No Longer Accepts Bitcoin Payments
Microsoft does not accept Bitcoins as a mode of payment on Windows 10 devices. Remaining balance can be used to purchase apps but Bitcoins can no longer be supplied or refunded. From now on, you have to use money in purchasing.
"You can no longer redeem Bitcoin into your Microsoft account. Existing balances in your account will still be available for purchases from Microsoft Store, but can't be refunded," the company said.
The refusal of Bitcoin payments only apply to Windows 10 and Windows 10 Mobile stores. Xbox account users can still add Bitcoin to Xbox accounts, according to a ZDNet report.
It was in December 2014 that Microsoft started supporting Bitcoin and enables users to exchange the cryptocurrency at the equivalent value through BitPay which is a third-party Bitcoin payment processor and adds the same value to the Microsoft accounts of the customers.
The reason behind the transformation is not very clear. Microsoft needs to explain why it no longer accepts Bitcoin payments. However, Softpedia thinks that it didn't turn out the way Microsoft expected it to be when paying for goods on the Windows Store. "Microsoft had no reason to continue keeping it as a supported digital currency," as the website sees it.
Bitcoin aficionados have high hopes that the said cryptocurrency will be widely accepted substitute to traditional currencies, but that didn't happen so far for different reasons, according to PCWorld.
For US customers there is a limited option.
"For us, this is about giving people options and helping them do more on their devices and in the cloud," Microsoft Universal Store corporate vice president Eric Lockard said in 2014. "The use of digital currencies such as bitcoin, while not yet mainstream, is growing beyond the early enthusiasts. We expect this growth to continue, and allowing people to use bitcoin to purchase our products and services now allows us to be at the front edge of that trend."
Bitcoin is still considered a market payment method spite its amplifying legitimacy and some of its long-time supporters are losing confidence. Microsoft sees that not much people use virtual cash and it's not reasonable to maintain the necessary code and continue accepting Bitcoin payments, as reported by Engadget.
Microsoft ends its support for Bitcoin as a mode of payment for purchasing goods at the Windows Store. Existing Bitcoins can be used when buying but cannot be refunded or added. Xbox account users can still add Bitcoin to their accounts.