Microsoft is the latest to have begun accepting Bitcoin as payment in exchange for digital goods including Xbox games, mobile apps, music and other digital content.
With immediate effect, Microsoft users can now buy digital stuff from the Windows, Windows Phone, Xbox Games, Xbox Music, and Xbox Video stores using Bitcoin, at the current exchange rate.
“You can now use bitcoin to add money to your Microsoft account,” Microsoft’s payments information page reads.
“Once you add money to your Microsoft account, you can use it as a payment option to buy apps, games, and other digital content from Windows, Windows Phone, Xbox Games, Xbox Music, or Xbox Video stores.”
According to Coindesk, the new scheme is the result of Microsoft’s partnership with Bitpay.
In order to make payments using Bitcoins, Microsoft account holders will first need to credit their account balances and then make their respective purchases. Direct payments with the cryptocurrency are not supported at this point of time, but it can rather be used to add funds to an account’s balance.
Furthermore, Redmond has pointed out that users can only add $100 at a time using Bitcoins via their desktop or mobile wallets, the payments can’t be refunded and that the currency can only be used to purchase digital goods not physical ones.
The software giant claims that it will take less than 15 minutes for users to redeem bitcoin using their digital wallet.
Although neither Microsoft nor Bitpay have officially announced the partnership or details, the former has been spotted listing a series of instructions related to bitcoin payments within its ‘billing help’ pages. The page also contains instructions for adding bitcoin to user accounts, including steps for desktop and mobile users.
Right now, the Bitcoin payment option is only available for people who live in the U.S and for select Microsoft online stores.
Let us know what you think about Microsoft’s Bitcoin acceptance.
