Ukrainians Escaping War Use Cryptocurrencies to Keep Funds Safe

الأوكرانيون الهاربون من الحرب يستخدمون العملات المشفرة للحفاظ على أمان
  •  cryptocurrencies offer a way for Ukrainians to escape the war
  •  the Ukrainian government and NGOs are collecting cryptocurrencies to     help the people in the disaster
  •  cryptocurrencies are being used to keep money flowing Despite the crisis

The new digital currency

 

Due to the war situation between Russia and Ukraine, the digital currency market has lost its dominance. Major cryptocurrencies like Bitcoin and Ethereum have also hit recent lows after Russia invaded Ukraine. But no one thought that cryptocurrencies might emerge as the major key variable for people leaving Ukraine amidst the war.

Bitcoin and cryptocurrency on banknotes of one hundred dollars

Ukrainian Tweet Leads To Bitcoin Heist Worth $36 Million

 

On February 26, Ukraine’s official Twitter account shared two cryptocurrency wallet addresses, a Bitcoin and a Bitcoin wallet address. People initially thought that this might be a hoax or the account could’ve been compromised. So far, a total of US$36 million worth of funds have been collected from government and private wallet addresses.

Cryptocurrency and business

Is Cryptocurrency The Propeller Of Aid Flows To Ukraine?

 

Some fintech and payment companies have refused to allow groups from supporting the Ukrainian military through cash funds. As a result, the government and NGOs are turning to cryptocurrencies.

Hands holding national flag of Ukraine in the shape of the borders of Ukraine. Support for Ukraine

Ukrainian Man Escapes the War-Haunted Country Using Bitcoin Savings

Ukraine has suspended electronic cash transfers and ATMs have been overrun. The borders have also been closed for all men of the fighting age. But some of them have found loopholes and deserted lands to escape the war-haunted Ukraine. A Ukrainian who escaped to Poland, he is making the ends meet, thanks to his Bitcoin savings.

Ukrainian passport and money on map

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