Microsoft now accepts Bitcoin for purchasing digital goods

Microsoft announced on Dec 11 that it would now allow people to use Bitcoin to top up their online Microsoft account and purchase games and apps from the Windows and the Xbox Store. The news was added to the website silently which said that the company had partnered with Atlanta-based digital-currency payment processor Bitpay. Customers could now use Bitcoin to add money into their accounts but were not allowed to pay for the goods directly. Though Microsoft has made no official announcement, it did release a  report explaining how users could use the the virtual cash via the Microsoft account. The  report also explained how all Microsoft products were not available to Bitcoin users. This option is only valid to a limited set of goods. Once money is added to the account using Bitcoin, it could not be refunded either. “The use of digital currencies such as Bitcoin, while not yet mainstream, is growing beyond the early enthusiasts,” Eric Lockard, corporate vice president of Universal Store at Microsoft, said in a statement. “We expect this growth to continue and allowing people to use Bitcoin to purchase our products and services now allows us to be at the front edge of that trend.” Though the Washington-based software giant will not be accepting Bitcoin itself, it is making use of a Bitpay service by which the Bitcoin processor accepts the digital currency and converts it into dollars that are then transferred to the merchant at the value cited for the original transaction. As of now, this feature is only available for U.S. customers. The virtual cash can only be used in a limited amount as well. Per day, users could exchange $1,000 to their Microsoft account and no more than $5,000 to additional Microsoft accounts that are registered in their name.