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- Through Bitcoin donations or Litecoin mining endeavours, the organisation receives funding from its followers all across the world. Last year, they received about $100,000 in Bitcoin and other cryptocurrencies to bankroll their anti-Russian actions.
- Non-governmental organisations and volunteer groups collected more than $500,000 in Bitcoin as part of a crowdfunding campaign in 2021. In comparison to 2020, this was a 900% rise.
- Ukrainian crowdfunding has increased by 900% since 2021, with the majority of donations coming from within Ukraine rather than from outside, as it did previously, when it was primarily funded by other countries or organisations concerned about the crisis.
Ukrainians are using cryptocurrency as a means of retaliating against Russian forces stationed in their country. According to Elliptic, a blockchain analytics firm, Ukrainian crowdfunding has increased by 900% since 2021, with the majority of donations coming from within Ukraine rather than from outside, as it did previously, when it was primarily funded by other countries or organisations concerned about the crisis. Because to Bitcoin, these organisations have witnessed a major increase in bitcoin funding. As a result, despite the limitations imposed by traditional financial systems, digital currency is becoming a viable alternative for donors.
Bitcoin allows people all around the world to connect and make a difference that lasts far longer than any one person’s donation — crypto contributions can now tap into this potential. Non-governmental organisations and volunteer groups collected more than $500,000 in Bitcoin as part of a crowdfunding campaign in 2021. In comparison to 2020, this was a 900 % rise. Many individuals have picked up arms to fight as the Ukrainian military has effectively crumbled in the face of the Russian invasion. Volunteer groups are what they’re called. They are supported by private donations.
Fundraising Campaigns In Ukraine Obtain Cryptocurrency Funding
Cryptocurrencies are becoming more popular as a source of revenue for fundraising initiatives in the current era. According to Elliptic’s research, digital currency users may contribute to and get money from these types of organisations more easily than ever before, without any interference or complications with cross-border transfers, which makes it very appealing, among other things.
Private contributors have abandoned bank wires and app payment systems in favour of Bitcoin, fearing that their donations will be rejected. Due to financial institution limits on specific amounts raised through that method, certain fundraising campaigns have had their accounts cancelled in the past. This type of donation technique is new to me. Even so, it’s growing in popularity among individuals looking for new methods to give money. Elliptic has revealed that Come Back Alive, one of the organisations they’ve discovered so far–a group that received roughly $200,000 in financing from September to December last year–primarily supports Ukraine’s army.
For years, bitcoins have been used to pay cybersecurity organisations. The Ukrainian Cyber Alliance is one such organisation. The group primarily conducts cyber operations against hackers and propaganda disseminators based in Russia. Through Bitcoin donations or Litecoin mining endeavours, the organisation receives funding from its followers all across the world. Last year, they received about $100,000 in Bitcoin and other cryptocurrencies to bankroll their anti-Russian actions.
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Near The Ukrainian Border, 10,000 Russian Troops Were Massacred
Residents are concerned about the recent rise in military presence along the Russian-Ukraine border. Since last year, when the fighting erupted following the Maidan movement, Russia has stationed around 10,000 troops near eastern Donbas. More than 6000 individuals have died as a result of violence, including troops. Both sides hold each other responsible for the fatalities.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
