Vkontakte, Russia’s largest social network now accepts Bitcoin

Vkontakte, Russia’s largest social network now accepts Bitcoin

In the midst of a quick up and down moves in cryptocurrency prices, Vkontakte, Russia’s largest social network has started accepting Bitcoin payments.

As a matter of fact, both Vkontakte and Odnoklassniki, two of the biggest social networks in the Russian subcontinents said they will accept payment from advertisers in Bitcoin and Bitcoin Cash.

They are also looking to pay developers and partners in cryptocurrencies.

According to Bitcoin.com, “both Bitcoin (BTC) and Bitcoin Cash (BCH) will be accepted by a platform that the two social networks work with, Mytarget. Cryptocurrency transactions will go through the My.com subsidiary of Mail.ru Group and will be processed by the U.S. based payment service provider Bitpay.

For now, developers of applications and associated platforms will continue to receive their payments in fiat currency, but plans are in place to offer them the crypto option in the near future.”