Microsoft has stopped supporting Bitcoin as a payment method. Microsoft started accepting Bitcoin in 2014, and has temporarily stopped supporting Bitcoin previously in the past.
Transaction charges have soared from a couple of pennies a couple of years back to several dollars, making Bitcoin relatively unusable for microtransactions, where some people end up paying a large amount in fees.
Back in December Steam stopped accepting Bitcoin due to similar reasons. Steam cited “high fees and volatility” as to why they decided to stop supporting Bitcoin.
For organizations like Microsoft and Steam, Bitcoin’s unpredictable cost is likewise an issue in light of the fact that sudden and unforeseeable value drops may acquire enormous misfortunes.
While Bitcoin price has always been volatile, it never swung as it did in the previous three months. To be broadly embraced by the financial sector, a computerized or fiat money must be steady with a specific end goal to be useable, something that Bitcoin is certainly not.
Meanwhile, Microsoft is educating clients to utilize different strategies concerning installment, for example, credit or debit cards, PayPal accounts, or an direct bank account.
Additionally this week, Visa ended its concurrence with WaveCrest, a prepaid card issuer, closing down a huge number of Bitcoin debit cards issued by Bitwala, BitPay, Cryptopay, and others.