Cryptocurrency Refugees from Ukraine Find a Haven in Bitcoin-Fueled Portugal

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The tensed and haphazard dynamics of Ukraine led by the Russian attack has forced several of the country’s residents to flee their homes and look for shelter in nearby regions. Several refugees are driving across Europe to escape the war in Ukraine and look for a haven in other countries. Amongst the arcade of neighbouring countries extending support to Ukrainian nationals, one such country is the Bitcoin-friendly Portuguese capital of Lisbon. Although several of the Ukrainian countrymen are journeying to Europe’s westernmost country, some of the crypto-savvy ones can keep their jobs owing to their extensive experience in cryptocurrency and blockchain technology. 

Crypto workers are likely to settle more easily in Portugal than their counterparts

Like many other western countries that have offered refuge to Ukrainians fleeing the Russian invasion, Portugal, too, is experiencing its fair share of the influx. However, crypto workers from Ukraine are said to find it easier to start over in Portugal than in other European destinations due to the country being an industrial hub. Another significant reason for Portugal becoming a hotspot for crypto workers is its zero-per cent taxes on digital gains, affordable living costs, and bearable temperatures. All these factors have together attracted several Ukrainians who have been in the industry and possess superior knowledge of the same. 

Portugal is turning into a Ukrainian refugee centre

Before Russia attacked Ukraine, it was the fifth-largest group of foreign nationals in Portugal. However, in the past three weeks, the country has welcomed over 13,000 refugees after the government approved the process. In fact, the Portugal authorities are all providing temporary housing for hundreds of refugees at a sports hall. The city officials have also approved a plan that helps people explore the right housing jobs, schools, and healthcare centres in Ukraine. 

Today, the presence of digital currencies have in Lisbon have opened up new avenues for crypto fanatics. As the country welcomes Ukrainians, it has become imperative to invest in solutions that offer a good lifestyle. And cryptocurrency is one such profitable opportunity.

Nitish Vaibhav
Nitish Vaibhav
Nitish Vaibhav is the Founder of the The Trading Bay. A computer science engineer turned an Entrepreneur 5 years ago. He has been in trading since 4 years in Forex and Crypto using his price action strategies. Involved in Content Creation full time for 3 years, Nitish is top rated writer on many content writing websites. He is also a YouTuber in India making videos about Crypto and Forex.

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