Cryptocurrency Donations To Ukraine Are Soaring At Over $18 Million
Wealth2 Minutes Read

Cryptocurrency Donations To Ukraine Are Soaring At Over $18 Million

March 2, 2022 Share

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Thousands of people have donated millions in cryptocurrency to help support the current Ukraine vs Russia conflict. Dubbed as the “world’s first crypto war,” the platform sees donations with almost $2M From NFT sales alone.

Millions of dollars in crypto have flowed in to support Ukraine and the army. Even the Ukrainian government is now soliciting donations in crypto and has already raised more than $15 million

Some Ukrainians are also turning to crypto as an alternative to Ukrainian financial institutions, limiting access to bank accounts and foreign currency. 

In a scenario where governments are in chaos, relying on traditional banks and fear of surveillance is difficult. So a relatively anonymous system where no government is involved is appealing.

What blows my mind is how this conflict is transforming the online world. Now, I am in no way going to head down the political route, but perhaps the most apparent inclusion here is cryptocurrency. 

Today, cryptocurrencies have skyrocketed in value over the last few years and are now a global phenomenon many people know but understood by few.

In a few words, it is a digital or virtual currency that uses cryptography for security.

Ukraine

Not only are people using these online currencies to donate, but some artists are even selling NFTs (non-fungible tokens) to give a helping hand. 

According to the BBC, “more than 4,000 donations have been made so far, with one unknown donor gifting Bitcoin worth $3m to an NGO.”

Ukraine

According to Reuters, by “08:50 GMT Monday, the wallet addresses had received crypto worth $12.8 million across almost 17,300 donations,” London-based Elliptic said. 

But be warned, “scammers appear to be taking advantage of the current situation in Ukraine, though, by tricking unsuspecting users. First NFT thieves and now cryptocurrency scammers,” warns

What is our world coming to?

For donations, supplies, asylum and general assistance, please follow the official Ukraine Government Twitter link, where you will be able to see the correct crypto accounts you need – if you wish to denote.

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Author: Michelle Laver
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