Microsoft now accepts Bitcoin for Software, Apps, Xbox, Games, Music and Movies

Microsoft uses bitcoin paymentsMicrosoft is now accepting Bitcoin. According to Microsoft's payments site, the digital currency can be used to purchase software, apps, games, movies, TV shows, music and other digital content from the Windows, Windows Phone, Xbox Games, Xbox Music, or Xbox Video stores. Microsoft is the world's largest software company.

Currently, only users with Microsoft Accounts in the US can use Bitcoin to purchase from Microsoft. Bitcoin payments are credited to the user's account as US dollars, which can then be used for shopping. Most Bitcoin transactions should process immediately, the company said.

Microsoft's payment gateway allows users to pay with bitcoins directly from computers with bitcoin wallet access, as well as via a scanned QR code on smartphones and other devices.

Although Microsoft has a standard refund policy for Microsoft Account purchases, credits made with Bitcoin cannot currently be converted back to Bitcoin and refunded, they can only be spent.

Microsoft is the world's largest software company, with revenue of $86bn and a market capitalization of $370bn. The company recently announced that it would release the next iteration of the Windows operating system, Windows 10, in fall 2015.