Ukraine Now Accepts Donations in 14 Crypto Assets

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The Ukraine government is now accepting donations in 14 different crypto assets. Giving donors various option to choose from between some of the most popular projects within the crypto market.

It has expanded the number of cryptocurrencies it is accepting for donations toward its military as Russia’s invasion continues.

On Wednesday, Mykhailo Fedorov, vice prime minister of Ukraine, said people can send dogecoin as a donation.

The supported assets include bitcoin (BTC)ethereum (ETH)terra (LUNA). Polkadot (DOT)solana (SOL)cardano (ADA)dogecoin (DOGE). Monero (XMR)ICON (ICX)NEO N3 (NEO)algorand (ALGO)hedera (HBAR), and casper (CSPR). Stablecoin tether (USDT) is also supported over both Ethereum and Tron (TRX) networks.

According to snapshots by archive.org, Ukraine’s official website supported nine projects. And by March 16, meaning that it has added support for another five cryptos over the last week or so.

On Tuesday, Fedorov tweeted about a project called Aid For Ukraine. It is a collaboration between the Ukrainian government, Everstake and a cryptocurrency blockchain platform called Solana.

People can now donate Solana cryptocurrency as well as any other digital tokens based upon Solana.

Ukraine is also accepting non-fungible tokens or NFTs as donations too.

The expanded support for more blockchains is welcomed by the crypto community. Given that it is pretty expensive to make a transaction on some networks. For instance, the average Ethereum transaction fee on March 23 was USD 10.2, per BitInfoCharts.com. 7-day simple moving average fee on the same day was USD 11.1.

“I used algorand since the transaction cost aka gas was [USD] .003 or so,” one Reddit user who claims to have donated ALGO 42 (USD 36) said. “So possibly consider transaction fees before donating,” they added.

Additional information

Ukraine first announced the launch of its crypto fundraising site. Which aims to encourage and provide interested donors with a convenient portal in contributing for Ukrainian causes, on March 14. Dubbed Aid For Ukraine, the website claims that “the community has already raised” USD 64.3m out of the USD 200m goal.

Funds raised via the initiative will be used to help the Armed Forces of Ukraine as well as for humanitarian needs, according to the official press release.

“Crypto assets proved extremely helpful in facilitation of funding flows to Ukrainian citizens and soldiers, as well as in raising awareness and engaging people worldwide,” Oleksandr Bornyakov, the Deputy Minister of Digital Transformation, said at the time. “The amount of crypto crowdfunding for our country is already the biggest in history so far.”

Nevertheless, despite the new fundraising website going live, crypto donations seem to have reached to its limit.

According to the crypto security firm SlowMist, which tracks crypto donations to the Ukrainian government and five non-profit organizations helping Ukrainian causes, the total USD worth of crypto donations has largely remained between USD 84m and USD 94m over the past seven days.

Moreover, while crypto addresses shared by the Ukraine government continue to see a steady, even if a more modest stream of donations, other non-profit organizations supporting Ukraine have recently seen fewer donations.

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