Another big tech player refuses Bitcoin as a payment method according to reddit.
In various top threats, users pointed out that one of the biggest tech companies, has stopped accepting the most famous cryptocurrency.
Why Microsoft makes a move like Steam?
The reason is well known. The price of Bitcoin has high price fluctuation and if it should be accepted as a payment method, it needs to be stable. Past few months showed us that cryptocurrencies can swing from bottom to top in few days.With long time of payment confirmation (where while waiting to confirm, the price can change drastically) it is hard to accept it as a payment.
Microsoft offers other payment methods, such as PayPal or credit and debit cards.
For me, it is the main reason why Microsoft goes the same way as Steam.
Bitcoin as a payment method.
For now, it is hard to accept any cryptocurrency as a payment method. High fees, price fluctuation, confirmation time, those are main issues in accepting that payment method.
Try to figure it out by yourself: you’re selling something, the product is in your customer’s hands, and before you take “money” from him, the value of them changes. I guess it is not good, right? There is already joke about how fast price of bitcoin can change. It is time to think how and what should we change in crypto-industry to provide digital assets as a payment method.
Last modified: January 9, 2018
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