Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

Microsoft Store drops support of bitcoin payments

Microsoft's apps store has announced the cancellation of bitcoin payments option. The software corporation provided no further explanations, making users speculate about the cause of this decision.

As stated on the official website (1) of the Microsoft Store, customers can no longer top-up their accounts with bitcoins and buy products for Windows 10 and Windows 10 Mobile using this cryptocurrency. Assets already deposited on client accounts are announced non-refundable, but they can be spent purchasing digital products in the Store.

It is still allowed to redeem bitcoins into accounts in order to buy apps and other digital products for Xbox and other versions of Windows, but it is still not clear whether this option will remain available in the future. The company did not specify its reasons to halt bitcoin payments support and why it applies only to Windows 10 and Windows 10 Mobile products.

The decision of one of the world’s largest software companies has caused a disturbance within the bitcoin community. Thus, Reddit users trying to rationalise the Microsoft’s partial withdrawal from accepting bitcoins, the most popular explanation is that the corporation is dissatisfied with current bitcoin network issues. Many community and industry members have recently complained about increasing delays in bitcoin transactions. Another version quotes law demand for the option as the reason to remove it.

Microsoft started accepting bitcoin payments for Windows, Windows Phone and Xbox apps in mid-December 2014, the transaction service provided by the payment processor BitPay.

Microsoft Store was the only app store among others to adopt bitcoin as a payment method. Neither Apple Store nor Google Play Market considers bitcoin or any other cryptocurrency as a possible means of payment.

A considerable number of merchants have recently declared to stop accepting bitcoins, albeit the shops themselves were positioned as bitcoin-friendly. According to users, many merchants present on Coinmap and other similar resources actually do not accept cryptocurrency payments.


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Jeudi 17 Mars 2016