Now You Can Buy Microsoft Products Using BitCoin

 Now You Can Buy Microsoft Products Using BitCoin

What is BitCoin – BitCoin is a consensus network (software) that powers an e-commerce system with a completely new form of digital money. So you can say that BitCoin is a digital currency which is created and exchanged between users (individuals as well as organizations) independently without the involvement of a bank.
Digital currencies like BitCoin are becoming increasingly popular. Microsoft recently made an announcement that it’ll support the use of this currency. Now you can buy Microsoft products using this crypto-currency from the comfort of your home. The software operates via BitPay that allows you to add funds (BitCoins) to your Microsoft account. These funds will then be exchanged at the ‘current market value’.
According to the current policies, users can add up to US $1000 to their Microsoft accounts per day, using the BitCoin system. Microsoft allows you to purchase products like Xbox Games, Xbox Music and Xbox Videos via BitCoin. You can also buy a number of products from the Windows Store using this currency.
The use of digital currencies like BitCoin is a subject of an ongoing Australian parliamentary inquiry, which was raised by the Senate’s Economics References Committee in October 2014. At the first hearing, the representatives of the company who created this software said that the way this currency is being treated by the Australian Taxation Office is creating hurdles for their business in country. While BitCoin wants the treatment that foreign currencies get, ATO treats the transactions via BitCoin as a form of barter.

Chirag Thakkar

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