The Russia-Ukraine war shows no signs of abating, anytime soon. Regardless, crypto enthusiasts in Ukraine, are keen to experiment with cryptocurrencies. Furthermore, they do not wish to explore just any coin/token.
The demand is for Bitcoin only. They want permission to use Bitcoin as a method of payment for services and goods.
Ukraine’s Changed Mindset
The Russian invasion caused havoc in Ukraine, in several ways. However, it also served to reawaken Ukraine’s interest in cryptocurrencies. The nation felt that Bitcoin offered excellent commercial use.
Earlier, Ukraine’s President affixed his signature to a bill focused on Virtual Currency. This way, the document acquired a legal framework. It was lawful for Bitcoin to operate in the nation’s economy.
It was necessary to take such action, for existing legislation proved to be an obstacle for economic progress. The Government could not accept donations in the form of Bitcoin, at that time.
The President had to sign the bill, to satisfy an enhanced demand for Bitcoin. Ordinary citizens wished to use this cryptocurrency for day-to-day activities. After all, the military aid groups had been receiving an influx of donations.
These donations were in the form of Bitcoin.
The Minister for Digital Transformation, Mykhailo Fedorov, confirmed these donations. Ukraine’s military had indeed received $54 million in the form of aid. This aid had arrived in the form of BTC and other digital currencies.
The Two Retailers
Bitcoin remains the most popular digital currency across the globe. Investors and retailers may discover everything about it on the web pages of www.bitcoin-storm.live. Regardless, not all commercial ventures are keen to adopt it.
Only two of them are ready to do so. They are amongst the largest of technology retailers in Ukraine.
Obviously, there is still widespread apprehension regarding this novel mode of online payment.
These two retailers, are Stylus and Techno Yizhak. They have informed their customers that they are ready to accept online payments in the form of BTC. The declaration was announced in Obozrevatel, a news outlet.
Stylus refers to an online store. It deals with an array of electronics, books, clothing, household appliances, footwear, gifts, and food items. Everything is of the greatest quality.
Techno Yizhak is also an online shopping center. Shoppers may browse through an interesting world of technology. They will also have access to analog and digital equipment. All these are connected to professional shooting, recreation, and sports.
The high quality of the conventional and functional devices and gadgets, speak for themselves.
Both, Stylus, and Techno Yizhak, cover 100+ stores, scattered across Ukraine.
Making Cryptocurrency Payments
The retailers have outlined how they want consumers to pay for their purchases. Consumers engaged in online shopping, will require to fill a form for making crypto payments.
However, if consumers intend to visit a physical retail store, they must print a QR code at the checkout point. After scanning it on their mobile phones, they may pay in digital currencies.
Will consumers obtain receipts for their purchases?
Yes, every transaction has its own QR code. This code will show up on the receipt. Then, the concerned consumer must scan it, and enable the transaction to go through.
The receipt will also display other details about the concerned transaction. They include, the exchange rate, network, time span, commission paid, and the kind of transaction taken place.
WhitePay
It refers to a provider of payments infrastructure. It will prove to be the backbone that enables bonding between the consumers and the two retailers. It will offer the point-of-sale (POS) terminals. They will help the companies to accept virtual currency payments.
Thanks to this assistance, transactions should go through smoothly and safely.
WhiteBIT
It refers to a globally well-known digital currency exchange. Furthermore, the exchange is the largest in Europe. Then again, the company is responsible for creating WhitePay.
Thanks to WhiteBIT, consumers will be able to buy things online via Bitcoin payments. The company plans to eventually offer them with the choice of 130 diverse digital currencies.
The retailers are doing a favor to Bitcoin, too.
The founders of BTC will benefit immensely, as well. To conclude, this strategy should prove to be a win-win situation for both, the Ukranian tech companies, and the world of cryptocurrencies.
