Microsoft has Stopped accepting Bitcoin Deposits since it is an Unstable Currency

Nishanth Shetty

Nishanth Shetty

January 10, 2018 8:20 am

Microsoft has Stopped accepting Bitcoin Deposits since it is an Unstable Currency | Coindelite News
1
30379 Total Views

Bitcoin News

Nowadays, Cryptocurrencies are being adopted by so many organizations and institutions, but Microsoft is reversing from its previous bitcoin position.

Microsoft drops Bitcoin deposits

The previous bitcoin funding method for clients has been canceled by Technology giant Microsoft (NASDAQ:MSFT). The organization has already sent out an email to all its whose systems were detected and affected by the funding issues. This settles the issue after a lot of consideration on social media and community forums based on partial information.

The Microsoft representatives have also confirmed the issues and explained that from “December 26, Microsoft is no longer accepting Bitcoin in exchange for credit on the customer’s account. The “Redeem bitcoin” link on Account.Microsoft.com has been removed, so customers will no longer see the bitcoin payment option.

Bitcoin Problems

Microsoft has not yet revealed the reason behind removing the Bitcoin payment option. Anyhow, after discussing with the several employees and in various forums, we came to know that it was done not because of any regulatory demands or anything else, but due to the operational issues.

Steam also took a similar decision last year

From the beginning of December 2017, Steam also took the same decision and stopped supporting the Bitcoin transactions.

Steam mentioned “high fees and volatility” is the reason for stopping the support for Bitcoin payments.

For companies like Microsoft and Steam, Bitcoin’s volatile price is also an issue because sudden and unforeseeable price drops may incur huge losses.

Meanwhile, Microsoft is recommending customers to use other methods of payment, such as credit or debit cards, PayPal accounts, or a direct bank account.

1 Comment
Ripple and XRP: Key Differences Explained

  These days a huge number of companies and organizations, banks are adopting the Ripple technologies. Somehow, XRP has been knocked between the price dip, regulations, etc. Have you ever compared Ripple and XRP and saw the difference?. I think most of us haven’t. So, here you could understand the difference …

GPU Prices Finally Gain Stability After an Year-Long Surge

GPU prices drop after being rising for almost a year. Since May 2017, there was a steep increase in the price of dedicated graphics cards. Surprisingly, this was not due to the rise in the number of game releases, but this was due to the general public’s interest in cryptocurrency. An …

UK Mosque has Raised 14,000 GBP as the Cryptocurrency Donation

  In May, UK’s Shacklewell Lane Mosque had announced that it would start accepting cryptocurrency as Sadaqah (donations). The Mosque has collected a huge 13,983 GBP (Great British Pounds) in cryptocurrency during Ramadan. Turkish runs the mosque in Hackney, in East London. The mosque had planned to start accepting cryptocurrency at …

Dark Web’s World Cup Gambling Ring Seized by Chinese Police

Chinese officials have shut down an online gambling ring on Thursday. The bets made on the matches used cryptocurrencies that included Bitcoin, Litecoin, and Ethereum. Over $1.5 billion had been accumulated through this scheme. Rather than betting, this scam allowed recruiters to profit off other members. The official statement by The …

Ripple wants to Beat Bitcoin in India | Coindelite News
1
Ripple Wants to Beat Bitcoin in India

  Ripple (XRP), the most bank-targetted blockchain protocol, Ripple (XRP) will be taking over fifty percent of India’s finance sector by preparing payments with low fees and capable systems. Ripple Vice President Asheesh Birla recently became a part of the Scaling and Digital Disruption in Fintech conference and said, Ripple …

Crypto.com announces The MCO Visa Card

  Crypto.com is launching of a new Cryptocurrency enabled MCO Visa Card. This card will allow users to spend their cryptocurrency at more than 40 million locations worldwide, offering the same benefits as some of the best credit cards. To use this card, users will need to download their app which features a …

shares