Microsoft Enables Funding Account With Bitcoin Cash
Microsoft has started allowing users to fund their account using Bitcoin Cash (BCH), in addition to Bitcoin (BTC). It is a positive development for Bitcoin Cash (BCH), which has lost about 75% of its value from the peak price of $4090 recorded in early January. While most of the cryptocurrencies had declined considerably in the past two months, Bitcoin Cash’s decline was steeper than others.
One of the reasons for the decline is a fall in Bitcoin transaction costs from 1,200 Satoshis per bytes to a mere 30 Satoshis per bytes. Bitcoin Cash (BCH) aims to take the place of Bitcoin (BTC) with faster transaction time and lower cost. The arrival of SegWit facility and the rise in the number of nodes supporting Lightning transaction to about 1,000 in Bitcoin mainnet is having a negative impact on Bitcoin Cash.
— Bitcoin Cash (BCH) News (@BTCNewsUpdates) March 12, 2018
So, the acceptance of Bitcoin Cash (BCH) for funding the Microsoft account is a welcome step for its vehement supporters. Notably, Microsoft depends on the payment processor BitPay for processing cryptocurrency payments. BitPay had recently started supporting Bitcoin Cash (BCH) in addition to Bitcoin (BTC). So, to a certain extent, the acceptance of Bitcoin Cash by Microsoft is a logical development of BitPay’s extension of support to the cryptocurrency.