Microsoft suspended to accept bitcoin payments, because it is too unstable”

Microsoft suspended to accept bitcoin payments, because it is too unstable”

    

According to technology website BleepingComputer reports, Microsoft (Microsoft) is no longer supported bitcoin as a payment method to buy their products.

Microsoft Support Department of a staff member said the reason they make this decision for bitcoin unstable consideration, this move is only temporary. Microsoft started to accept bitcoin payments from 2014, had repeatedly suspended this option.

Steam made a similar decision

Last December, Steam also selected for similar reasons bitcoin transaction is no longer supported.

Steam said: “the high fees and volatility” is the reason they make this decision.

Transaction fees from a few years ago a few cents to recent tens of dollars, bitcoin has almost is difficult for small transactions. A lot of people need to come up with a majority of the transaction amount as a fee.

For Microsoft and Steam these companies, bitcoin price volatility is also a problem, because of a sudden fall in unforeseen could have resulted in a huge loss.

Microsoft does not allow users to purchase products directly with bitcoin, but allow them to add a certain amount of advance in the accounts of the dollar, the money will be used for bitcoin payment.

However, this kind of transfer is still limited by the transaction costs, the risk of loss of Microsoft still have the account bitcoin money, this is any financial sector need to face the problem.

Bitcoin price volatility

Although bitcoin prices have been volatile, but has never been like the past three months as the concussion. To be the financial sector acceptance, whether digital currencies or legal tender are required to have a certain stability, but bitcoin currently do not have such characteristics.

At the same time, Microsoft also recommends that customers choose other means of payment, such as credit cards, debit cards etc..

In addition, Visa has also recently ended with the prepaid card issuer WaveCrest protocol, resulting in Bitwala, BitPay, Cryptopay and other companies bitcoin debit cards are not available.

Leave a Reply

Your email address will not be published. Required fields are marked *