By CJ – Bitcoin Specialist 07-07-2022
Nearly a 12-hour period, Come Back Alive, a Ukrainian NGO that provides help to the Ukrainian army, received over $400,000 in Bitcoin. Additionally, money is given to volunteers and hacking groups. In the last few hours, several of these organizations have received hundreds of thousands of dollars in trusted Bitcoin cryptocurrency. Furthermore, the cryptographic data gathered is being utilized for several applications that include military equipment, medical supplies, and drones for the Ukrainian army.
Come Back Alive Director Taras Chmut revealed that the organization has been getting tiny donations for several months. When Russia invaded Ukraine, however, over $300,000 was paid out in a couple of hours. The cash will also be used to support military equipment for Ukrainian soldiers, including armor and medical supplies, according to the charity.
Until recently, Come Back Alive accepted fiat payments on Patreon. Its Patreon page, meanwhile, has been inactive since Thursday. Using Patreon's services to promote military financing is against the company's regulations, according to Patreon, hence the growing need for crypto buying platforms and trusted Bitcoin companies.
According to a survey issued by Elliptic, a blockchain analytics business, digital currencies are growing more popular as a means of paying volunteer work. Elliptic remarked.
Bitcoin trading and other cryptocurrency has shown to be a stable and increasing alternative (to traditional cash) - particularly for international donations.
Cryptocurrencies may be given and received anonymously, which has long been regarded as a major disadvantage. They do, however, play a vital role in obtaining financial assistance in times of need. Furthermore, anonymity allows individuals and groups to buy bitcoin instantly with cash even if banking institutions do not allow payment transfers.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards