Myth 1. Traditional transfers are more reliable than crypto
When the Russian invasion began in February, the Ukrainian government tweeted a request for donations in crypto. At the moment, more than $ 100 million of such donations in various cryptocurrencies have already been collected.
The first days of the invasion were especially decisive. The banking system of Ukraine came under a powerful attack from Russian hackers. And the cash disappeared from ATMs in the first couple of hours. Therefore, saving money could only be sent through crypto payments.
Later, the National Bank took a number of measures to stabilize the banking sector and protect the economy. They froze cash withdrawals from abroad, limited the purchase of foreign currency, and banned international transfers. In such a situation, cryptocurrencies have become the only option, how to send money to relatives or buy yourself a ticket to leave the danger zone.
We saw the value of the blockchain as a safe place to store money. This is a completely separate payment infrastructure that will come to the rescue if the usual system collapsed due to a disaster.
It doesn’t matter what is happening around: let ATMs not work, and payment sites under cyber attack. Blockchain gave support and stopped the destruction of the whole economy.
You only need a mobile phone and Internet access. Thanks to the generous supply of Starlink, this was not a problem.
By the way, in recent months, Ukraine has ranked first in terms of the percentage of crypto-owners.