Companies dealing with Bitcoin have a tough decision to make. While BTC is the leading cryptocurrency, Bitcoin Cash poses some interesting competition. Microsoft is now supporting both BTC and Bitcoin Cash to fund a user’s account. This is made possible courtesy of BitPay, which recently added support for the popular altcoin.
It is always good to see more competition for Bitcoin in the payment space. The world’s leading cryptocurrency is not perfect by any means. Even today, it is still somewhat expensive and at times rather slow. Bitcoin Cash seems to suffer from none of those issues most of the time. If that situation were to change, a real competition would effectively ensue.
An Interesting Choice for Microsoft Customers
Speaking of competition, Microsoft has made an interesting decision. More specifically, the company now supports both versions of Bitcoin as a payment method. These options can be sued to top up a user’s Microsoft.com account balance accordingly. Since the technology giant relies on BitPay to handle transactions, support for both currencies is a logical development. The leading cryptocurrency payment processor supports Bitcoin Cash alongside Bitcoin.
The big question is whether or not Microsoft will see a lot of BCH transactions. Although the company doesn’t interact with it directly, this choice is rather telling. Moreover, it seems BCH transactions are instant, whereas Bitcoin payments require network confirmations. This is another decision by BitPay, rather than the technology giant. It creates some interesting options in the cryptocurrency world, though.
All of this paints a rather intriguing outlook for the Bitcoin ecosystem. Competition from a forked version of this currency will certainly be interesting to keep an eye on. Competition is a good thing, even in the world of cryptocurrency. The popularity of BCH is difficult to estimate as of right now. That is, as far as using it for Microsoft services and products are concerned. Ever since BitPay added BCH support, a lot of new doors have opened in the process. It is still up to individual companies to enable both payment options, though.
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