Web Desk — As a result of the Russian aggression, Ukraine has received both moral and economic support from all over the world. Dozens of nations as well as scores of anonymous crypto traders are ready to help the Ukrainians.

According to research from a blockchain analytics firm Elliptic, along with conventional military aid, Ukraine has received more than $40 million in crypto donations in less than a week since the war began.

Most of the donations came from a tweet from the Ukrainian government asking for donations of Bitcoin, Ethereum, Tether, and Polkadot.

In addition to direct donations to the Ukrainian government, non-governmental organizations (NGOs) and other initiatives have raised millions in cryptocurrency. Punk rock group Pussy Riot helped create a decentralized autonomous organization called UkraineDAO, which collects Ethereum to be donated to Come Back Alive, a Ukrainian NGO that supports the military’s efforts to defend Ukraine against Russia. The DAO has raised over $5 million so far. Experts say Ukraine has turned to crypto because it is difficult to use traditional banks when two nations are at war, and there is a fear of surveillance.
Chris Chen, a financial advisor with Insight Financial Strategists in Newton, Massachusetts, says, “There is a compelling use case.” He says the Ukrainian government can exchange crypto for U.S. dollars and buy supplies to help support its fight against Russia.
Russia might also be using crypto in a similar manner to fund its war efforts and evade western sanctions imposed on its central bank and other sources of wealth.

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A spokesperson for Binance told CNBC that some of the biggest crypto exchanges have refused to freeze Russian accounts because it “would fly in the face of the reason why crypto exists.”
Crypto donations can be more transparent, faster, and more cost-effective than traditional donations. With blockchain, a distributed ledger that can record transactions, the transfer of money is very transparent. Costs are reduced as well, both in terms of fees and time.
How to Donate Crypto to Ukraine?
Donate directly to the Ukraine Govt
Donating directly to the Ukrainian government is the most secure way to ensure your crypto is going to Ukraine. Earlier this week, Ukraine’s official (and verified) Twitter account shared two cryptocurrency wallet addresses – a Bitcoin wallet address and an Ethereum wallet address. It also accepts USDT and Polkadot.

In order to make a donation, you’ll need two things: a cryptocurrency wallet with some coins and a public key address to send the transaction to. Enter the wallet address and the amount of the donation you wish to send. Be sure to verify the address they are sending to before hitting “send.” Additionally, how long the transaction takes and how much you pay in fees will vary depending on the blockchain.

Support Ukrainian NGOs

Several nonprofits and charitable groups are accepting crypto donations directly, such as Come Back Alive, Ukraine DAO, and the Kyiv Independent, an English-language Ukrainian newspaper that has chronicled the war on Twitter.

“It will have a phenomenal impact,” says John Kun, vice president of the U.S.-Ukraine Foundation, a nonprofit that advocates for democracy, free markets, and human rights in Ukraine. “The first parcels will arrive in the next couple of days.”

Substitute Ways to Help Ukraine

Donating crypto is not the only way to help Ukraine. The following charities support humanitarian efforts in Ukraine and accept standard online donations:

Voices of Children
Vostok SOS
Malteser International
United Help Ukraine
Nova Ukraine
Sunflower of Peace