Microsoft now accepts bitcoin payments
In a surprising move, Microsoft decided to accept bitcoin payments from customers interested to acquire Windows Store content. In addition to that, Microsoft account holders can also use this payment method to fund the purchase of Xbox Games, Xbox Music, as well as Xbox Video. The blog post that made this official earlier this week reveals that "Starting Thursday in the U.S., by using BitPay, the world’s leading bitcoin payment processor, you can trade-in bitcoin – at current market value — and add it to your Microsoft account."
There are multiple limitations that apply to this news payment method, including those below:
- only customers in the US can use it for now
- bitcoin cannot be used for direct payments, but only to put funds into Microsoft accounts
- $1,000 USD is the maximum amount that can be exchanged in a day, but also less than $5,000 USD to additional Microsoft accounts registered in one's name or by the user him/herself
BitPay currently offers support for more than 50,000 businesses, including big names such as Newegg, TigerDirect, or Virgin Galactic. According to Eric Lockard, corporate vice president of Universal Store at Microsoft, "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."