Dec 17, 2014

Microsoft one of the popular multinational corporation that influences world’s computing infrastructure with its Windows OS. Microsoft is heading towards opening up new payment options for its users. It is a good news for all the Microsoft product users. It has now started to accept Bitcoin payments on its Windows, Windows Phone and Xbox stores.

Bitcoin a digital currency, which can be created and held electronically. Bitcoins aren’t printed, like dollars or euros. This is an example of a growing category of money which is known as cryptocurrency. Bitcoin can help you exchange money in a different way than with usual banks. The Bitcoin virtual cash is based on a complicated math and cryptography system issuing unique ‘virtual coins’. The ‘mining’ process for the global Bitcoin community generates codes for new Bitcoins, which are limited to a finite quantity.

It has now started to accept Bitcoin online for its digital products. At present this is live in America only. It can now fund Microsoft/Windows Live or XBox Live accounts using Bitcoin, at the current exchange rate. Once this Bitcoin acceptance is fully operational worldwide then various businesses and end users can pay for services such as Azure or even Windows Phone apps.

By using this cryptocurrency, Bitcoin helps its users to add money to a Microsoft account in order to buy apps, games and other digital content from its various online stores. Microsoft also confirmed that the payment via Bitcoin may not be smooth one at present. It is advised that the Bitcoin transactions are expected to process immediately, however it may take upto two hours at times. It is to be noted that the money added to Bitcoin cannot be refunded. This service can only be used with Bitcoin payment processor such as BitPay, noted Coindesk.

With this move, now Microsoft has joined the long list of other companies who have started to offer Bitcoin options. Take for example BitPay is used by over 44,000 businesses and organizations, which includes PayPal, electronics retailer Newegg and space tourism company Virgin Galactic.

However Microsoft’s involvement with Bitcoin began in February 2014, when company’s Bing search engine was modified to let its users generate Bitcoin price conversions. Let’s wait for the moment when this payment option would be open in other countries for Microsoft users also.

(Omnie Solutions is a Microsoft partner enterprise application development company that provide custom web and enterprise mobile application development services to global business. Follow Omnie Solutions on Facebook, Twitter, and LinkedIn for technology updates)


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