Russia’s Biggest Search Engine Launches Bitcoin Conversion Tool

yandex18 Dec 2013 / Coindesk – Russian search engine Yandex has started tracking the exchange rate of bitcoin for the US dollar, the euro and the British pound, but oddly enough not the Russian rouble.

Yandex is by far the biggest search engine in Russia, with a 60% market share. It also has a big following in several of the countries that are part of the Commonwealth of Independent States. In 2011 Yandex managed to raise $1.3bn in a NASDAQ initial public offering, the biggest IPO since Google went public seven years earlier. The company also operates an e-commerce payment system, dubbed Yandex.Money.

As of this week, the search engine allows users to check the bitcoin exchange rate directly, simply by typing in specific requests like bitcoin rate or bitcoin price in the search box. The converter springs into action, showing how many euros, pounds or dollars the specified amount of bitcoin is worth, based on the current exchange rate. It appears that the tool uses the CoinDesk Bitcoin Price Index in its calculations….. Read more

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