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Donations to Ukraine with Bitcoin Exceed $1 Million

By CJ – Bitcoin Specialist  07-07-2022

  • Donations to help Ukraine have been pouring in
  • Over $1 million in Bitcoin has been donated to Ukrainian charities
  • Crypto is increasingly being utilized to assist countries in need
  • Donations have been flooding in from all over the world to Ukraine. Bitcoin investment donations for Ukraine have topped $1 million, according to Twitter user WatcherGuru

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.

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