Bitcoins has come a long way in terms of acceptability as a means of payment, and the general awareness about cryptocurrency and how it will change the future of payment. There are exchanges where Bitcoins are being traded for fiat and altcoins – but things have gone a bit further as Bitcoin is now being exchanged for goods and services. Online and offline business have adopted Bitcoins as a method of payment, which allows their customers to make payments conveniently. While websites accept Bitcoin as a method of payment, offline businesses have adopted Bitcoin ATMs serviced by companies such as SatoshiPoint.
Despite the volatile nature of digital currencies, they continue to grow in popularity with more websites across the world willing to take the best on their value and rely on them as a method of exchange.
In February 2019, Chess announced that they have resumed accepting Bitcoin as a payment method on their platform due to popular demand. The payment method was initially discontinued due to issues that they encountered with their payment processors. But that seems to have been sorted out and chess lovers who have digital assets can resume using their digital currencies to subscribe to the website.
Microsoft is one of the world’s leading tech giants that has paved the way in many aspects of the tech industry. So, it should come as no surprise that the company is currently accepting bitcoin for its Xbox subscription. The company has laid out all the steps required to fund an Xbox user account with Bitcoin. We are likely to witness Microsoft extend this payment method to other products in the future.