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Another step towards crypto adoption, Microsoft to accept LiteCoin for payments
BitPay will act as the payment provider
2 min. read
Published onFebruary 21, 2024
published onFebruary 21, 2024
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During these turbulent times, when the blockchain space has suffered massive setbacks in the last few years, Microsoft’s decision to acceptLiteCoinfor payments comes as a relief to the community.
The announcement was first made byBitPay, the cryptocurrency payments service provider, in apost onX(formerly Twitter).
Upgrade your crypto game by topping up your@Microsoftaccount with@Litecoin.@LTCfoundation#BitPay#crypto#Litecoin#LTC#Microsoft$LTCpic.twitter.com/xZgh0gPY5Q
At that point, theLiteCoinprices increased by 5% but have since fallen regularly.
Also, there’s a catch!
First, Microsoft is not directly acceptingLiteCoinbut only throughBitPay, the payment platform. BitPay also supports a range of other cryptocurrencies, includingBitCoin,Ethereum,Dogecoin, andUSD Coin (USDC).
Secondly, Microsoft does not directly accept cryptocurrency.BitPaywill first convert yourLiteCoininto fiat currency at the current exchange rate, which is then transferred to Microsoft.
So, while this may sound like a paradigm shift in the approach of tech giants, it’s a step aimed at offering more payment options to consumers.
Are we headed towards mass crypto adoption?
While crypto adoption has increased amongst users, companies and authorities still remain hesitant, given the lack of governing bodies in the world of blockchain. To counter this, states have passed laws to regulate cryptocurrencies, and some have even imposed taxes on profits.
Areport byCrypto.comstates that cryptocurrency holders have increased worldwide by34%in 2023. A similar trend was witnessed when taking into account Bitcoin (33% increase) or Ethereum (39% increase).
But, for mass adoption, there’s still a long way to go! Self-regulated governance models like DAO (Decentralized Autonomous Organizations) only serve to a certain point.
Crypto is still in the early stages, and it will take a few years before we see major corporations like Microsoft, Amazon, and Netflix directly accepting cryptocurrency as a payment option.
Until then, you can continue usingBitcoin mining softwareto accumulate more. Though it’s getting harder by the day!
What’s your take on the future of crypto? Let us know in the comments section.
More about the topics:Cryptocurrency,microsoft
Kazim Ali Alvi
Windows Hardware Expert
Kazim has always been fond of technology, be it scrolling through the settings on his iPhone, Android device, or Windows PC. He’s specialized in hardware devices, always ready to remove a screw or two to find out the real cause of a problem.
Long-time Windows user, Kazim is ready to provide a solution for your every software & hardware error on Windows 11, Windows 10 and any previous iteration. He’s also one of our experts in Networking & Security.
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Kazim Ali Alvi
Windows Hardware Expert
Kazim is specialized in hardware devices, always ready to remove a screw or two to find out the real cause of a problem.
