Microsoft has ceased receiving bitcoin as one of their payment options in the Microsoft Store. This ii utilized to buy software, songs, video clips and gadgets online, but also to power Xbox, the company’s official gaming console.
Users will not be allowed any longer to receive Bitcoin into their personal accounts, the organization said in its press release. Current balances in their accounts will be available for acquisitions from the Microsoft Store and cannot be returned.
The ceasing of assistance for bitcoin balances is only applicable to Microsoft’s Windows 10 or their equivalent mobile shops, the statement says. However, some clients revealed that they were still able to add virtual currencies bitcoin to an Xbox account.
Microsoft presented its bitcoin assistance in Dec 2014 and lets people to use this crypto currency for transactions at market value through the third-party transaction processer BitPay, which adds the same value to the clients’ Microsoft accounts.
This feature is restricted only to residents in the US for now and there are no details about expanding it to other regions. For the company, this move is about providing options to all customers and assisting their users to do more tasks on their gadgets or in cloud series, Microsoft’s representatives said a couple of years ago.
The implementation of a digital exchange currency like bitcoin, even if it is not very popular, continues to grow beyond early adopters. Experts anticipate that this development will continue and enabling individuals to utilize bitcoin to buy various services and products now permits Microsoft to be right at the top of that online wave.
The scenery is different since then and crypto currencies are not as prized any longer as before, and this is both perceived in positive and negative ways. Despite being recognized as a stable currency by the US authorities, the debate about whether to agree using bitcoins in main business transactions has essentially been rather quiet lately.
Probably it did not help that fact that some important people behind many crypto currencies, and even from Bitcoin, have become involved in one or more scandals, usually related to legal issues. Microsoft has renewed its dedicated page for their online store to announce that it is no longer allowed to use Bitcoin as method of payment.
People can still collect the remaining coins in their account, but they will not be capable to use them for future transactions. In addition to this problem, members cannot return a bitcoin buy, if they happen to try to convert their crypto currencies into actual cash.
Earlier these days, one of the specialists working on Microsoft’s Edge web browser said that he sees a strong exuberance for block chain. This is the balance sheet that supports bitcoin or other crypto currencies.
Other organizations, such as Valve or other major players, are still considered to be placing their assets behind Bitcoin. However, if this is actually real, will be seen in the near future as experts follow the numerous twists in this dynamic market.
Image source: Allcryptocoins