How to help Ukraine with Bitcoin or Ethereum

How to help Ukraine with Bitcoin or Ethereum

World peace hangs in the balance and that is why it is important to help as much as possible so that Ukraine can defend itself and above all help its citizens. Yesterday, the Ukrainian government published two official addresses to receive funds in cryptocurrencies and so far in 24 hours they have received more than 7 million dollars.

Ukraine’s banks are closed, ATMs only allow you to withdraw 3,000 hryvnias a day, which is equivalent to less than 90 euros , and food and resources are becoming increasingly scarce. A good way to help is cryptocurrencies and for this the Kiev executive has launched two official addresses to receive funds in Bitcoin or Ethereum.

Ukrainian addresses

BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P

ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14

In the two addresses mentioned in the official Tweet, the cryptos can be sent from any “exchange”. Thus, for example, users who use Coinbase or Binance must go to the “withdrawal zones” and from there they can copy and paste the address to carry out the transaction. So far and according to the blockchain, 2 million euros have been donated in Bitcoin while in Ethereum the figure reaches 5 million.

It is clear that digital assets have become a refuge value and their massive adoption is becoming more evident in some countries; El Salvador is a good example where it has already become the official currency despite warnings from the International Monetary Fund.

In the case of Russia, various industry experts point out that cryptos will also be a financing mechanism to mitigate the effects of the economic sanctions imposed by many countries. It is well known that many of the ransomware attacks that hijack data and demand ransom on digital assets originate from Russia.

Bitcoin holds its own despite the war

The quintessential cryptocurrency correcting more than 50% from its all-time highs is stoically holding value despite the war. The day Russia launched the first attacks, it traded below $35,000, but has quickly found buyers again and is now close to $40,000 , a resistance that could act as support if it breaks in the next few hours. In the case of Ethereum , the value was at $2,300 at its lowest point, but today it exceeds $2,800. If the selling pressure stops, we could see it trading above $3,000 in the next few hours or days. For their part, other “Altcoins” such as Solana, Polkadot or Luna also recovered between 5% and 10% from their lows last Wednesday.