Microsoft: You can now buy Xbox credit with Bitcoin
Bitcoin fans wanting to use their money on Microsoft's goods have a few caveats to keep in mind. First, you can't directly exchange Bitcoins for new games. You'll need to transfer the Bitcoins into your Microsoft account, and then use that money to purchase your content. Users can transfer up to $1,000 into their Microsoft account each day, but high rollers should be aware that there's a $5,000 maximum limit on each account. Once Bitcoins are transferred they can not be refunded.
If your eyes just glazed over, Bitcoin is an open source, peer-to-peer currency backed by the security of a computer algorithm instead of the economic strength of a nation. As the Bitcoin design is available to the public its supporters argue that the currency offers more transparency and freedom from human machinations than traditional monetary systems, and is inherently less likely to encounter the sorts of problems that caused the 2008 financial crisis.
Detractors point to events like the recent Mt. Gox scandal, in which a major Bitcoin exchange suddenly lost the equivalent of $470 million (most of which has never been recovered), as indicators that the cryptocurrency may not be as secure as advertised.
Posted:
Related Forum: Xbox Forum
Source: http://www.joystiq.com/2014/12/11/microsoft-opens-its-coffers-to-cryptocurrency-bitcoin/
Related Articles
Comments
LoodPosted:
Interesting, if I had bit coins I would be more intersted in trading them and making more money to buy stuff like this, rather than wasting money on microsoft points. Idk, does not seem too worth it to me.
nukuPosted:
Friendly tip: If you want to invest into BitCoin do it now while the prices are still low
BulletsPosted:
Thank god, I can now buy xbox credit with BTC instead of buying off third party sources.
CartierPosted:
-Skittle Never used BitCoin, not 100% sure how it works lol
Same. I was just watching a video explaining it and it seems complicated. At least for me it seems that way because I don't know a whole lot about computers.
Latest Downloads
- 01. [EU] CARX DRIFT RACING ONLINE - PROGRESS SAVE 6 SP DUO (CUSA15633)(1)
- 02. Fallout Shelter Modded Save PC(0)
- 03. Remember Me: SaveGame (The Game done 100%)(0)
- 04. The Long Drive: SaveGame (American pickup)(0)
- 05. Goemon's Great Adventure (US / NTSC) - Nintendo 64 Game Save(1)
- 06. The Long Drive: SaveGame (blue VW Beetle)(0)
- 07. Deadly Creatures | Complete Savegame(0)
- 08. Driift Mania | 100% Savegame(0)
- 09. LostWinds: Winter of the Melodias | 100% Savegame(0)
- 10. Lost Winds | 100% Savegame(0)
- 11. Mega Man 10 | Savegame(0)
- 12. Mega Man 9 | Savegame(0)
- 13. LASTFIGHT Secret character unlocked(1)
- 14. PC Horizon Forbidden West Complete Save(14)
- 15. Castlevania: The Adventure ReBirth | 100% Savegame(0)
Latest Tutorials
- 01. The Redress Of Mira 100% Walkthrough | Trophy & Achievement(424)
- 02. Russian Pinocchio Quick Trophy Guide(518)
- 03. Venatrix Quick Trophy & Achievement Guide(473)
- 04. Call of the Sea 100% Platinum Walkthrough(627)
- 05. Wire Lips 100% Platinum Walkthrough(591)
- 06. The Expanse 100% Platinum Walkthrough | Trophy & Achievement(546)
- 07. Doctor Who: The Edge of Reality - PS4 Platinum P/Thru(467)
- 08. Doctor Who:The Lonely Assassins - 100% Guide(441)
- 09. DAYMARE 1998 PS4 - Full game 100% TROPHY WALKTHROUGH(401)
- 10. Stray Platinum Walkthrough | Trophy & Achievement Guide(423)
- 11. Raji: An Ancient Epic | Complete Gameplay Walkthrough(564)
- 12. Corpse Killer: 25th Anniversary Edition - Longplay(514)
- 13. Song of Horror: Complete Edition Gameplay Walkthrough(381)
- 14. Remoteness 100% All Trophies Walkthrough(526)
- 15. Detective Inspector Mysterious Clues Platinum Walkthrough(465)
"Microsoft: You can now buy Xbox credit with Bitcoin" :: Login/Create an Account :: 42 comments