Ukraine’s Tech Stores Can Now Accept Crypto Payments Thanks to Whitepay

 

Whitepay Introduces Crypto Payments to Ukraine’s Tech Stores

A New Chapter for Crypto Payment Processors

Embracing the Future: How Crypto Payments are Changing Ukrainian Shopping Experience

Introduction

At the end of 2022, the Ukrainian tech stores began accepting cryptocurrency payments thanks to the Whitepay crypto payment processor, an essential part of the Whitebit ecosystem. This achievement not only helps tech-savvy consumers, but it also highlights the rising significance of cryptocurrency payment processors like Whitepay for both users and businesses.

Whitepay: A method for Online pay

developed by digital asset exchange Whitebit, revolutionised shopping by bringing cryptocurrency payments to Ukraine’s electronic stores. There are currently over 130 digital currencies accepted on well-known online platforms like Tehnoezh and Stylus, and there are plans to add more in the future.

Importance of white pay

Whitepay, a crypto payment processor and a vital part of the Whitebit ecosystem, has revolutionized the shopping experience in Ukraine by introducing crypto payments to the country’s tech stores.

Leading online platforms in Ukraine, including Tehnoezh and Stylus, now accept more than 130 digital currencies, with plans to expand the list in the future. 

Crypto payment processors play a crucial role in enabling businesses to accept cryptocurrencies as payment. They simplify the adoption of crypto payment solutions by converting digital currencies into traditional fiat currencies or other digital assets.

Some notable crypto payment processors include:

  • BitPay: One of the oldest and most reputable processors, BitPay was founded in 2011. It supports numerous cryptocurrencies, including Bitcoin, Ethereum, and stablecoins, and provides payment processing, cryptocurrency wallets, and a prepaid card.
  • Coinbase Commerce: Launched in 2018 by Coinbase, this processor provides tools for merchants to accept various cryptocurrencies. It seamlessly integrates with popular e-commerce platforms like Shopify and WooCommerce.
  • Binance Pay: Binance Pay allows users to send, request, and receive nearly 150 different cryptocurrencies. It has gained popularity and is accepted by various merchants.
  • CoinGate: CoinGate, founded in 2014, offers a range of crypto payment solutions for businesses. It supports over 50 cryptocurrencies and provides a customizable point-of-sale app, allowing merchants to settle payments in their preferred currency.
  • Crypto.com Pay: Developed by Crypto.com, this platform offers various financial services and tools for businesses to accept cryptocurrencies as payment. It provides instant settlement in stablecoins or fiat and offers incentives to users in the form of cashback rewards.
  • Square (now Block): Square, founded by Jack Dorsey, offers the Cash App, which allows users to buy, sell, and hold cryptocurrencies, as well as make crypto payments. The company’s recent rebrand to Block signifies its increased focus on blockchain and cryptocurrency technologies.

 


WHITEBIT (one of the largest European crypto)

exchanges with over 3.5 million customers, has introduced three new deposit methods: Apple Pay, SEPA, and Web3 wallet. These methods offer users more convenient options for depositing funds in various currencies.

Whitebit is a well-known controlled European cryptocurrency exchange that was founded in the Ukraine in 2018. The exchange deals with an average daily trading volume over $2.5 billion and offers a broad variety of trading pairings, assets, and national currencies.

The introduction of crypto payments to tech stores in Ukraine by Whitepay brings numerous benefits. It signals the increasing adoption of cryptocurrencies, encourages other businesses to accept crypto payments, and accelerates their wider adoption. The benefits include enhanced security, lower transaction fees, faster settlements, access to a global market, and increased privacy. These advantages provide tech stores with a competitive edge and contribute to the overall growth of cryptocurrencies in Ukraine and beyond.

key advantages of introducing crypto payments to tech stores in Ukraine:

  1. Enhanced Security:      

    Crypto payments provide a higher level of security compared to traditional payment methods like credit cards.

  2. Lower Transaction Fees:

    Crypto transactions generally involve lower fees compared to traditional payment methods. By accepting crypto payments, tech stores can save on transaction fees and potentially pass on those savings to their customers.

  3. Faster Settlements:

    Transactions can be processed and settled within minutes, improving cash flow for businesses and minimizing the risk of chargebacks.

  4. Global Market Access:  

    By accepting crypto payments, tech stores can tap into a global market of cryptocurrency users who are actively seeking places to spend their digital assets. This expanded customer base can lead to increased sales and revenue for businesses.

  5. Increased Privacy:

    Crypto payments offer greater privacy compared to traditional methods. Transactions are pseudonymous, allowing users to make payments without revealing their personal information, which appeals to customers who value their privacy and anonymity.

Overall, the introduction of crypto payments to tech stores in Ukraine provides several benefits, including enhanced security, lower transaction fees, faster settlements, access to a global market, and improved privacy. These advantages not only drive the adoption of cryptocurrencies but also give tech stores a competitive edge in the evolving digital landscape.

FAQ’S

Q#.Is crypto taxable in Ukraine?

Ans: Yes, under the law on virtual assets income generated from crypto assets is taxable.

Q#. Is crypto regulated in Ukraine?

Ans: The war in Ukraine has accelerated the legalisation of cryptocurrency within the country’s financial system.

Q#. What major companies are accepting crypto as a form of payment?

Ans:

  • AMC. As of November 2021, AMC movie theaters have been accepting crypto payments for movie tickets. …
  • AT&T. In 2019, AT&T became the first major American telecommunications company to accept cryptocurrency payments. …
  • CheapAir. …
  • Dish. …
  • ExpressVPN. …
  • Microsoft. …
  • Newegg.com. …
  • Overstock.com.
  • Does Amazon accept crypto?
  • Does Amazon Accept Bitcoin? Amazon does not accept Bitcoin.

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