Blockchain News

Ukraine’s Biggest Tech Retailers Start Taking Bitcoin

Two of Ukraine’s biggest tech-based retailers, Techno zhak and Stylus, now accept Bitcoin as a form of payment.

The two titanic tech retailers will permit users to pay for goods and services in $BTC, according to a report by Bitcoin Magazine, citing regional news source Obozrevatel. According to the rumours, the startup will use the payment processor Whitepay to act as a middleman between clients and merchants. Whitepay is a division of the European-based cryptocurrency exchange WhiteBIT.

According to the report, users will be able to pay with Bitcoin both online and at physical stores, which number more than 100 retail sites between the two digital companies. Customers can use Whitepay’s unique point-of-sale technology to make in-person payments, which gives retailers a QR code to record the transaction. The current exchange rate and the time it takes for the network to process the transaction will also be included in the QR code.

The study claims that throughout the Russian invasion, Ukrainian interest in Bitcoin has increased. Earlier in the year, Volodymyr Zelensky, President of Ukraine, signed an “On Virtual Currency” bill, which provides a legal framework for Bitcoin to operate within the country’s economy.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.