Microsoft has stopped accepting Bitcoin as a payment method for its products because is unstable
According to Bleeping Computer, the move is temporary, a Microsoft support staffer told the online publication, and cited the unstable state of the Bitcoin currency as the reason behind the move. The tech company added support for Bitcoin in 2014, and had previously temporarily stopped supporting Bitcoin in the past. Bitcoin’s volatile price is an issue because sudden and unforeseeable price drops may incur huge losses.
Microsoft does not allow users to buy products with Bitcoin directly but asks users to add a predetermined amount of dollars to their account balance, for which they can pay with Bitcoin. That transfer is still subject to transaction fees, and Microsoft may still lose the value of the Bitcoin funds it received in its account, something that any financial department will have an issue with.
In the meantime, Microsoft is advising customers to use other methods of payment, such as credit or debit cards, PayPal accounts, or a direct bank account.
Source: Bleeping Computer
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
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Many more interesting quotes in the video below:
