Two New Supports to Ukraine: NFT Gift and Transaction Fee Abolition

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With Russia’s military action against Ukraine, the crypto world continues to remain silent. Two new developments have been added to these supports of the crypto world. The world’s leading crypto exchange LocalBitcoins announced that they have removed the transaction fee on the platform for Ukrainian users, both in Ukraine and abroad.

LocalBitcoins published the announcement with a detailed explanation of what this means for Ukrainian users. Also, CryptoPunk #5364 NFT was donated to Ukraine. This NFT was last sold for 16 Ethereum (ETH) last year and has already received an offer of 38 ETH.

Ukrainians Turn To Crypto

With this development, Ukrainian users will have the right to have a free Bitcoin wallet, instant and free Bitcoin (BTC) purchase, regardless of their location, and the right to convert the BTCs they receive into Ukrainian hryvnia. Jukka Blomberg, Marketing Director at LocalBitcoins, said:

“The core value LocalBitcoins embraces is freedom. We understand that at the moment Ukraine is facing extremely difficult conditions. For this reason, we have removed fees from Ukrainian users for all transactions on the platforms.”

In a development that followed this announcement, the trading volume of Ukraine’s national currency, the Ukrainian hryvnia, reached a record high in the crypto market. According to data from important exchanges such as Binance, LocalBitcoins and Kuna, it is observed that Ukrainians are more oriented towards crypto due to the conditions they are in.

Support for Ukraine is Growing

Although the gift of NFT to Ukraine and the removal of LocalBitcoins’ in-platform transaction fees are known as the last examples of support to Ukraine, it is thought that the support will continue until the end of the war. Since Ukrainians do not have access to traditional banking systems, it is inevitable that they turn to cryptocurrencies, and aid in this regard is growing like an avalanche.

After Russia started the military operation on February 24, aid and support started and donations were made especially to Ukraine with cryptocurrencies. It is recorded that the donations collected so far have reached 50 million.