Even though the relationship between Russia and Bitcoin will never be straightforward, things are turning around in favor of cryptocurrency. Over the past few months, multiple companies in Russia have started to accept Bitcoin payments. That is a major development, as it may lead to the Russian government legalizing Bitcoin in the future.
The biggest news over the past 24 hours is how ChronoPay is suddenly enabling Bitcoin support. Considering how ChronoPay is a Russia-based online payment service provider, those news are quite significant. After all, online payment processors accepting Bitcoin will help put the popular cryptocurrency on the map. This could lead to some interesting Bitcoin-related developments in Russia over the coming years.
It has to be said, ChronoPay has built up powerful relationships with entities such as Greenpeace and Tele2. The ChronoPay founder admitted he has been skeptical of Bitcoin for some time now. However, after looking closer at what cryptocurrency has to offer, enabling Bitcoin support seems to be the best course of action. It is another notch in the belt for this popular cryptocurrency, as Russia becomes an even more important region for Bitcoin.
A lot of people were -rightfully – surprised to learn Russia’s largest online retailer decide to accept Bitcoin payments. Ulmart feels now is a good time to experiment with cryptocurrency payments. Some people feel Ulmart is the Russian version of Amazon, due to its sheer amount of monthly visitors and orders. The integration of Bitcoin payments will be completed by September 1st, which gives Russian Bitcoin enthusiasts something to look forward to.
It is important to note not all products found on Ulmart can be paid for in Bitcoin. That is only to be expected, as a cautious approach is a smart decision. It is unclear which items will be payable in Bitcoin, albeit more information will be released in the coming weeks. It is expected used cars and apartments will be subject to Bitcoin payments.
It is impossible to deny the presence of WebMoney in the world of online payments. The Russian company enabled Bitcoin support in September of 2016, to much joy of cryptocurrency enthusiasts around the world. Having the support of such a powerful company will help elevate the status of Bitcoin in Russia. All BTC payments are converted to WNX, which is the native WebMoney Transfer unit.
WebMoney users looking to enable Bitcoin payments will need to set up an X-Purse through the merchant portal. All WMX will be paid out to this balance accordingly, at the rate of 1 WMX per 0.001 BTC. This WMX balance can then be exchanged into WMZ, WMR, or back to bitcoin if the user prefers to do so. All WebMoney authorized shops can enable Bitcoin payment with a few clicks. It is a bit unclear how many have done so since September of 2016, though.
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