As the war intensifies between Russia and Ukraine, the world is worried about the war. Lives are lost on both sides. However, Ukraine is calling different countries for help. This is not clear yet if any country has come forward to help Ukraine. A big help is coming from the people around the globe in the form of Bitcoins. This post is on Ukraine military donations.
Within just 48 hours, more than $400,000 in bitcoins has been raised for the Ukraine military. The war between Russia and Ukraine started on 24 February 2022. Soon after that, Russia declared full-scale war against Ukraine. Ukraine, on the other hand, is trying its best to survive in the war.
We will be discussing the Ukraine Military Donations and why people send donations in Bitcoins. How will this help the Ukraine Military in the war? Let’s try to understand
Bitcoin Aid To Ukraine Military
More than $700,000 in bitcoins has been received by the Ukrainian army. This money was raised as a digital wallet fundraising where people from around the globe donated. A bitcoin wallet was listed by a charity organization claiming to support Ukraine. This wallet was active since August 2021, but the transaction took place in February 2022. Most of the donation was donated in the last 48 hours since the beginning of the war.
These donations are going directly to the Ukraine military, as Russia launched a full-scale invasion of Ukraine. Russia has recently captured the Chernobyl power plant. On Thursday evening, after the bad hit to the crypto market, around $242 million were liquidated in just a couple of hours.
Also Read, How The Russia-Ukraine Conflict Affect Crypto Market?
Currently, there are many fundraising groups collecting funds for the Ukrainian military and people. One project named “Come Back Alive” claims to assist Ukrainian military efforts and has already disbursed $150,000 worth of bitcoins it has received so far.
How Will Bitcoin Aid Help Ukraine?
The fundraising organizations support the Ukrainian army by supplying them with soldiers. They supply medical supplies and essentials to the military for their survival. These groups also provide the military with weapons and vehicles required to fight the war.
These charity groups like Come Back Alive accept funds through bitcoins alongside Credit cards and PayPal transactions. These groups rely heavily on cryptos and peer-to-peer transactions to provide help. These groups usually bypass banks and financial institutes, and even governments.
On Thursday alone, around 370 individual donations were received, with an average of $1,000 to $2,000.
Also Read, FBI To Launch Crypto Crimefighting Unit
What Is Come Back Alive?
Come Back Alive is a Kyiv-based non-profit organization established in 2014. The funds raised by this group are used to finance military equipment, including armor and medical kits for Ukrainian soldiers. Director Taraas Chmut agreed to receive small donations for several months, but once Russia invaded, more than $300.000 USD rolled in.
Come Back Alive was accepting fiat donations on Patreon; however, this page has been inaccessible since Thursday.
Patreon said using its services to support military funding is against its policies, and the funds in the charity account will be refunded to donors.
The incoming donations haven’t stopped yet. The pro-Ukraine groups and pro-crypto communities on social media platforms like Facebook and Twitter contribute to the donations towards the Ukraine military.
Also Read, How Does Cryptocurrency Gains Value | Factors Affecting Crypto Value
What Is The Impact Of Bitcoin Aid On Cryptos?
After looking at the current stats, a change is evident in the crypto market because of the Bitcoin aid to the Ukraine military. In the last 24 hours, the crypto market is experiencing an increase of 9.15%. This is a big relief for the investors. Here is a list of the top ten cryptos today.
|Rank||Name||Price||24 hours||7 days|
|1||Bitcoin BTC||$38,645||↑ 10.25%||↓4.20%|
|2||Ethereum ETH||$2,627||↑ 11.95%||↓9.13%|
This table is according to the data provided by CoinMarketCap.
We have discussed how cryptos provide help in a war zone. Today, affected countries are not dependent on other powerful countries to help them. People on their own basis can help them, especially if you are a crypto investor. Cryptos help organizations to help the military and the affected people without any need for governments, financial institutions, or laws. They can bypass them all at the time of emergency to save lives.
Keep exploring our website to know more about cryptos.
Frequently Asked Questions
Q1. Can You Donate to Ukraine?
Yes, you can donate to Ukraine by sending your money to Sunflower of peace via its Facebook page.
Q2. Can You Donate To The Military?
The gifts to the army website allow the public to donate to the army and their families.
Q3. How Many Soldiers Does Ukraine Have?
Ukraine has almost 250,000 soldiers and is the second largest region after Russia.