Once Microsoft starts accepting Bitcoin worldwide, the frictionless transactions will truly begin to flow. With $86.63 b in annual revenue and $172.38 b in total assets, Microsoft is the new largest company in the world to accept Bitcoin. Microsoft’s founder Bill Gates has previously admitted that “Bitcoin Technology is key.”
Indeed, Bitcoin will allow the global company to accept payments from around the world with less friction than before. Microsoft is using BitPay to process their bitcoin transactions. By using a Bitcoin payment processor, Microsoft is avoiding all volatility on the Bitcoin market. Services such as BitPay, GoCoin, and Coinbase have been providing this service to Bitcoin and non-Bitcoin companies for years now. It seems that the largest companies in the world are just beginning to catch on now. Starting in 2014, the world saw online retail giants, led by Patrick Byrne’s Overstock.com, start to accept Bitcoin. Other large companies that accept Bitcoin include Dell, DISH, Newegg, and TigerDirect.
Also read: Bill Gates;: “Bitcoin Technology Is Key”
Windows users from around the world are reporting in the Bitcoin subreddit that Bitcoin is not yet an option for them. However, if the acceptance patterns of other international companies are anything to go by, Microsoft will soon open up their acceptance of Bitcoin worldwide. Most companies start off with Bitcoin acceptance only within America, and then follow afterwards with international functionality. As one redditor aptly put it:
The company that brought us internet explorer is embracing Bitcoin. The times, they are a changin’.
The details of how to use Bitcoin on their site can be found here. Microsoft emphasizes the following, showing a keen understanding of BitPay and the Bitcoin blockchain:
– Most Bitcoin transactions should process immediately. If it doesn’t, please wait up to two hours for the transaction to complete before contacting support.
– Money added to your Microsoft account using Bitcoin cannot be refunded, so make sure to review your transaction before paying with your digital wallet.
– You can only use Bitcoin to add money to your Microsoft account and then purchase digital goods at select Microsoft online stores. You can’t use Bitcoin to purchase Microsoft products and services directly at this time.
– Support for adding money to a Microsoft account with Bitcoin is currently limited to the United States.
– If you believe that there was an error with your Bitcoin transaction, please Contact Support*. Note: *Please have the following information ready before contacting support:
1. Your refund receiving Bitcoin address
2. Blockchain transaction ID/URL
3. Transaction details including amount, date, sending address, and receiving address
Please refer to your Bitcoin wallet help for any questions about getting the info listed above.
What do you think about Microsoft’s Bitcoin acceptance? Comment below!
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Last modified: March 4, 2021 4:42 PM