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- Peer-to-peer trading platform LocalBitcoins has announced the elimination of fees for Ukrainian users amidst the war situation between Russia and Ukraine.
- LocalBitcoins core value is freedom; hence, they attempt to support the country amidst war.
- The country continues to receive donations via the asset class and worldwide support from various crypto-related entities.
The war between Russia and Ukraine continues, and Ukraine continues to gather the support of various entities globally.
What does the announcement say?
LocalBitcoins, the peer-to-peer trading platform, has now shown its efforts to support Ukraine by eliminating fees for the users in the country. The platform announced this decision via its Twitter account. And further highlighted that Ukrainians in the country and outside would get a free Bitcoin wallet.
In the message for Ukraine’s people, the platform said that its core value is freedom. And that they understand that the country is witnessing tough times right now.
This fee removal would include the receiving of Bitcoin into Ukrainian wallets and converting Bitcoin into Ukrainian Hryvnia. It would facilitate the citizens to receive and convert Bitcoin without paying any fee.
Ukraine getting massive Crypto Donations:
Meanwhile, the country is immensely receiving donations via the asset class, and its crypto donations have surpassed $20 million. The country published a Bitcoin and Ethereum wallet on which the interested donors could send their contributions. Apart from this, the recent days have witnessed the popularity of Ukraine Non-Fungible Tokens (NFTs), with around $43 million minted for every citizen of the country. The worsened conditions of war have made access to traditional finance systems difficult, which increases the need to rely on cryptocurrencies.
Recently, Ukraine’s Vice Prime Minister, Mykhailo Fedorov, asked to block the Russian users’ addresses via his Twitter. Further asking Mark Zuckerberg to ban Russia’s access to Facebook and Instagram.
LocalBitcoins has become the recent platform to contribute to Ukraine’s support, wherein other crypto-related entities already showing up for its aid. And these decisions for or against Russia have gained mixed responses, with some appreciating the efforts and some finding it not that easy.
The asset class has grown to be quite popular in the finance world and has always helped countries in challenging times for donations. It is to look forward to how the related entities would further support the country.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
