Want to Donate Cryptocurrencies to Ukraine? Here is What You Need to Know

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Undoubtedly, the Russian invasion of Ukraine has been met with extreme resistance from the Ukrainian population. It is why Ukraine continues to receive moral and economic support from the world in its efforts to repel the invasion of the Russian army. During this time, there has been a sudden boom of cryptocurrencies, which has also served as an alternative for the Ukrainian government to receive funds from abroad to help its citizens purchase necessities, and medicines from neighbouring countries. 

As per reports, the Ukrainian president, Volodymyr Zelensky, has received more than 59 million from cryptocurrency holders worldwide. Such huge crypto donations have even led people to term this war as the first crypto war in the world. 

Ukraine ranks 4th in terms of crypto adoption

As per Chainalysis, a blockchain firm, Ukraine ranks 4th in terms of crypto investments such as Bitcoin, Ethereum, Tether, Dogecoin, etc. Moreover, Ukraine has forged close ties with the cryptocurrency firm, Everstake and blockchain platform Solana, to facilitate a steady flow of cryptocurrency aid from outside and repel Russian invasion to their fullest might. 

Individuals who wish to donate cryptocurrencies to the Ukrainian government can do so via the Emergency Relief Fund or through the US and other international charities.

Don’t forget to get your tax receipts for the transactions 

Ukraine currently accepts more than 70 different cryptocurrencies, including bitcoin and Ethereum. After you’ve donated to the fund, you can request a tax receipt that will entitle you to tax deductions. If you have invested money in cryptocurrencies, you can send money via your wallet to the crypto address of a non-profit organization or directly to the Ukrainian government.

You can also employ QR codes available on their official sites linked to the crypto wallets.  

Nitish Vaibhav
Nitish Vaibhavhttp://thetradingbay.com
I am an Entrepreneur. I believe building a Network and staying connected to the world will give you Wealth.

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