Ukraine at war with Russia impacts the socio and economic life. Being at a smaller scale, the situation of military and sufficing for the needs of the people is devastating. The crypto community walks together as a whole and is fundraising for Ukraine.
They are raising the money for the generic needs and the military strength. The Ukrainians express great spirit and bravery in the fight and express gratitude to all the contributors.
Accepting cryptocurrency via Bitcoin, Ethereum, and USDT, they call others to stand by their side. The trends of transferring money to the banks are no more the talk. But, the cryptos instill a new hope. Even if the Ukrainians move out of the nation, they have the option to get back some assets. Trading above the dollar at $1.10, the demand in Ukraine is still on the rise.
Can crypto be the answer for modern world?
With the war conditions between the two nations, the localities and the people face physical proximities. The people no more trust the local currencies and banks. The Ukrainian government officialized cryptocurrency last year and is a hub of technocrats.
Alexander Bornyakov, the Deputy Minister of Digital transformation in Ukraine, played a vital role in the acceptance. He plans to make Ukraine one of the best places for digital currency. Accepting it for the nation was one of the best decisions, and it is now in full bloom.
It restores the faith in the people trapped and suffering as cryptos instill hope that one will have something in hand. It works on decentralization and easy liquidation from any part of the world where cryptos are legal. Adding millions of funds is instilling the hope of aid beyond imagination.
Even with the entire world wanting to help the people of Ukraine, all the cryptos that one sends may not receive. With several parts of the nation suffering a power cut, the crypto transactions may not be complete. The entire work of the transfers was on the mobile providers, but they may shut down too. As of now, more than $9.9 million has rushed into Ukraine from different platforms and fundraising teams. It is sure to be of some help for the people in need.
With every crypto flowing into the official account of Ukraine, it gives strength to the people of the nation. With situations changing and increasing dependency, it is the next best resort to cash for storing and saving the assets and liquidizing as per the needs.
Disclaimer: Cryptogurukul has no relationship to these projects, and there is no endorsement or investment advise. Please seek professional advice before taking financial risks.