Microsoft has stopped accepting Bitcoin as a payment method just over a year after it began the experiment.
The technology giant was, for a time, allowing customers to buy Windows apps and Xbox games with the cryptocurrency.
However, Microsoft’s support pages have now been updated to note that Bitcoin is no longer accepted.
If you’ve already topped up your account with Bitcoin, you’ll still be able to make purchases with the existing credit. Bitcoin top-ups will no longer be possible, however.
Microsoft started accepting Bitcoin payments on the Windows and Xbox stores in December 2014.
However, users couldn’t pay directly with Bitcoin; the currency could only be used to top up the Microsoft account.
There was also a $100 cap on Bitcoin transfers, which worked out at an unimpressive sounding 0.2825 Bitcoin at the time.
It’s also worth noting that Microsoft only accepted Bitcoin on accounts registered in the United States.
Related: What is Bitcoin?
Bitcoin is a cryptocurrency – a digital asset and payment system – that was first launched to the public in 2009.
It’s based on a peer-to-peer mining and transfer system, and takes its value entirely from what users speculate its worth to be.
This decentralisation makes Bitcoin extremely volatile as an asset, as (1) it’s technically worthless, and (2) the value can change rapidly at any time.
Have you ever used Bitcoin? Tell us your thoughts on the digital currency in the comments below.
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Editorial independence
Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
