Send Your Cryptos With Zero Charges – Localbitcoins Tells Ukrainians
The top P2P BTC exchange, Localbitcoins, shows its support for Ukraine differently. A new announcement from the platform states that its Ukrainian users and those in the surrounding region will no longer pay any transaction charges when they make crypto transactions. Localbitcoins shared details of the announcement through its official Twitter account.
Highlights From The Announcement
Part of the announcement also revealed that Ukrainians would be entitled to a free BTC wallet no matter where they reside globally. Thus, they can quickly receive any BTC sent to them or convert their BTC to the local currency as fast as they want.
A top-level executive with the platform, Jukka Blomberg, opined that “we understand that Ukrainians are in serious financial trouble. But as a company that values freedom, we have removed any transaction fees for them when they make their crypto transactions.”
Trading Volume On The Hryvnia Hits Record Highs
This announcement and other positive news showing support for Ukraine have caused the trading volume on its local currency (the Hryvnia) to hit new peak records. Top local crypto exchange (Kuna) and popular exchanges (Binance and Localbitcoins) confirmed the massive spike in the trading volume on the Ukrainian Hryvnia.
LocalBitcoins’ announcement is one of the various kinds of support Ukraine has received as they continue their war battle with Russia. Many Ukrainians have been unable to make financial transactions through their banks since the war started. Hence, they have been forced to start using digital currencies. Ukraine continues to receive crypto donations since requesting financial help following the invasion of Russia, which began last Thursday.
Asides from the Ukrainian government, other authorized donor receivers are Unchain.Fund, AidForUkraine, the come back alive NGO and UkraineDAO. As of this writing, the total donations received by Ukraine are now well over $52m.
Ukraine Receives Several Russia-Related Crypto Wallet Addresses
Following an official request from Mykhailo Fedorov (on behalf of the Ukrainian government) that the general public forwards any crypto wallet address related to Russian officials, many have heeded the request. They have sent several such crypto wallet addresses.
Fedorov, who heads Ukraine’s crypto-related matters, is also the nation’s digital transformation minister and a deputy prime minister. A private attorney working closely with Fedorov, Artem Afian, revealed that the primary objective of this move was to force Russia to feel the effects of the sanctions placed on it by world economies.
He further explained that if they can access their crypto wallets, they won’t feel the effects of any sanction at all. While Afian confirmed that he has only received the crypto wallet addresses of a few top officials, he expressed optimism that his team is still searching through the wallets and would find the wallet addresses of many other top Russian officials.
You’d recall that Ukraine authorities also requested that crypto exchanges block all Russian user accounts for similar reasons above. However, top crypto exchanges, Binance and Kraken, have rejected the suggestion, saying they won’t freeze the crypto accounts of their Russian users.
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