In hard times there’s never a perfect solution, only the best course of action, based on the circumstances, can be taken. Russia’s invasion of Ukraine has created polarity in the Bitcoin war matrix and is proving to be a turning point for cryptocurrency.
Since the recent escalation of the Russian invasion, the Ukrainian government and non-profit organizations are calling for cryptocurrency donations to raise funds to support and protect affected nationals.
According to blockchain analytics firm Elliptic, the Ukrainian government has received more than $63 million in crypto donations. Some of these proceeds have been converted to local currency, and others to purchase protective defense equipment for the men and women defending the country.
While it has been speculated that cryptocurrency may be a way for the Russian government to evade sanctions should the West choose to freeze Russian accounts, Bitcoin is providing invaluable support to Ukrainian defense and those aiding innocent civilians.
Read on to learn how your crypto donations can help support war recovery and how to get your bitcoin to Ukraine today.
How to Make Cryptocurrency Donations to Ukraine
If you have a crypto wallet, you can use your account to send donations directly to the Ukrainian Government or a reputable non-profit like Food For Life Global that is actively providing hot meals to Ukrainian citizens living inside country and those fleeing to Poland.
Since the beginning of Russia’s invasion, many organizations have begun accepting cryptocurrency donations to make it simple for individuals to contribute Bitcoin in Ukraine to provide real-time support.
Digital payments offer additional advantages over traditional forms of payments. For example, transactions are quicker and easier, they’re more secure, and there are tax advantages for donors. Here is an example of how to make a crypto donation to FFLG in three easy steps.
Select the cryptocurrency you wish to donate, and pledge the amount you want to contribute. While we accept many types of crypto, you’ll need to check either Coinbase or The Giving Block donation form to ensure your desired cryptocurrency is accepted. You also have the option of leaving a note with your donation if you wish to.
Enter your Information
Fill in the required fields, specifying your name, residential address, and contact details, although you can also make your donation anonymous.
The final step is to connect your crypto wallet to the Giving Block and finalize the donation.
There are other ways to donate crypto to FFLG, such as Coinbase, a cryptocurrency exchange platform allowing donors to change their cryptos before giving. Alternatively, you can donate dollars to help support the war recovery efforts in Ukraine.
Tax Implications of Donating Crypto to Ukraine
Donating crypto like Bitcoin can offer you tax advantages that monetary donations do not. Usually, when exchanging crypto for cash, investors are required to pay capital gains tax on any appreciation the digital asset has incurred. Those who wish to give crypto instead can avoid paying these taxes on the cryptocurrency and still claim charitable tax deductions.
Donating Bitcoin for war mitigation efforts is becoming increasingly popular, as individuals can provide quicker, more secure assistance while taking advantage of the benefits the payment system provides.
How to Avoid Crypto Donations Scams
Of course, there are common scams in the crypto market, and bitcoin war efforts are no exception. But this is no reason to hold back from supporting charitable organizations!
The best way to ensure you are not donating to a scam cause is to research your chosen organization thoroughly. Start by checking the charity’s website. Organizations that inform you upfront how they plan to use contributions to assist recovery are usually more trustworthy.
There may even be a statistics section on the website that details how donations have helped the organization’s cause to date. Alternatively, you can check the establishment’s online reviews to ensure its legitimacy. If anything appears suspicious on the website, consider donating to more well-known charities. This is one of the advantages of the Giving Block because in order to be listed on their platform the charity has to go through a comprehensive vetting process.
What Charities are Supporting Ukraine?
Plenty of organizations are tirelessly supporting Ukrainian refugees and the Ukrainian government since Russia invaded Ukraine in late February. Here are two key charities supporting Ukraine and what they’re doing to help.
Food For Life Global
Food For Life Global is one of the charities on the front line working hard to raise funds for Ukrainian refugees. While more traditional crowdfunding support routes are encountering obstacles, charitable organizations like Food For Life Global are accepting cryptocurrency donations to make it easy for investors around the world to move funds to the Ukrainian recovery line.
At Food For Life Global, our goal is to assist Ukrainian NGO efforts in setting up food relief efforts inside Ukraine and in surrounding countries where Ukrainian refugees have fled to provide them with survival essentials. The organization strives to assist those affected by the Russian invasion by offering displaced nationals hot vegan meals, a place to stay, personal protective equipment, medical supplies, or even just a smile.
If you want to support FFLGs efforts to help Ukraine, donate on our official page today.
Come Back Alive
Come Back Alive is a charity based in Kyiv. Their mission is to raise funds for the Ukrainian military to ensure that soldiers and volunteers have sufficient resources and supplies to fight back against Russia’s invasion of Ukraine.
Supplies include drones, specialized software, personal protective equipment, and training resources. Any donations towards Come Back Alive will support Ukraine’s under-equipped defense efforts to protect Ukraine and the world at large from Russia’s threat to freedom.
Support Ukraine With Crypto
As Russia is currently showing no sign of relenting, the Ukrainian government and nationals need all the aid they can get. This goes towards helping protect the lives of innocent people and covering the real-time needs of those fighting for freedom.
All donations can help, whether they’re large or small. If you want to assist those in the front line with crypto, make a donation to Food For Life Global today, so the people of Ukraine can live in peace and prosperity once again.