Russia Popular Social Networks(Vkontakte and odnoklaassniki) to Trade With Bitcoin

Vkontakte and odnoklaassniki joined the group of social media platforms that now accept bitcoin, as they announce the acceptance of the popular crypto, vkontake is the most talked about social media among Russian-speaking users, they are set to accept bitcoin as a means of transaction from advertizers, odnoklassniki also follow suit they are one of the most popular and subscribed social network subscriber  in former soviet states, they duo wont stop at collecting they will also pay their partners and developers in cryptocurrency .


The two social media platform work with mytarget which will accept bitcoin and bitcoin cash, mytarget is a subsidiary of, it’s a mobile advertising platform which is aimed at connecting advertisers with Russian-speaking mobile users, Cryptos transactions will go through the subsidiary of 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.

Vkontake  is founded by Russian entrepreneur PavelDurov back in 2006 As it stands it  is ranked 18th in Alexa’s top 500 sites on the web,though it was banned in kev last year, and this has affected its growth across Europe ,the platform has more than 470 million accounts and reported ₽14 billion rubles of revenue in 2017 ($250 million).

Odnoklassniki use to be the leading social media platform in russia  before Vkontake, though its still popular in Russia and some other countries like Uzbekistan and Kyrgyzstan

Mail.Ru Group, ООО (commonly referred to as Mail.Ru) announced that owners of participating sites and applications will be able to receive income in cryptocurrency”,in nearest future, The Russian internet company, which owns Vkontakte and Odnoklassniki, also controls the email service, a smaller social network called Moi Mir, the open source GPS application and the instant messaging client ICQ. Group promise to provide its partners with maximum opportunities to develop their business,the company made a convenient method for those who already conduct business in cryptocurrency,it expands the use of two popular cryptocurrencies: BTC and BCH.


The introduction of bitcoin payments by Group is an important move for the Russian crypto sector. The company, which reaches about 85% of internet users in the country, controls Qiwi, a Russian payment service provider with 17.2 million wallets. Qiwi’s representatives participate in a working group preparing proposals to fine-tune the draft law “On Digital Financial Assets” presented by the Finance Ministry.

The introduction of tax breaks on profit and incomes from crypto-related transactions was proposed in the last meeting of the group at the ministry of economic development, the council of ministers of Russia will attempt to resolve differences between relevant institutions


Author: MoonMerchant

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