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CoinGate: Crypto Donations to Ukraine Are Now More Accessible

As the World witnesses the ongoing war in Ukraine, donations have poured in to support the Ukrainian military after Russia attacked the nation with heavy artillery on Thursday, 24th of February. The NationaBank of Ukraine (NBU) has opened special fundraising bank accounts to support the Armed Forces of Ukraine. 

While most fundraising campaigns are still being done through traditional payment methods, crowdfunding through cryptocurrencies has been gaining in popularity, as crypto offers the benefits of fluid and swift overseas transactions. Within the first few days of the conflict, donations made in Bitcoin tallied $4 million.

One of the leading cryptocurrency payment processors, CoinGate, has launched a special payment portal to support Ukraine with options for 70+ cryptocurrencies. All donations received go directly to the NBU bank account to reach those in need. 

 

Supporting Ukraine

Up to this point, Ukraine’s official Twitter account has stated that it only accepts BTC, ETH, and USDT cryptocurrency donations. 

CoinGate is aiming to expand the avenues of support, providing services for various cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and many more. These facilities make cryptocurrency donations to Ukraine even more accessible and flexible, enabling a wider range of crypto users to support Ukraine. 

Donated crypto is collected by CoinGate and converted into euros (EUR). To guarantee transparency, the funds are being approved and monitored by International Banking Settlement, an Electronic Money Institution based in Lithuania, before being sent to the NBU. The company has assured users that no payment processing fees will be taken from the donations, and 100% of the funds raised will be transferred to the National Bank of Ukraine.

“Today, we see unprecedented aggression towards civilized European countries. An act of aggression that threatens the freedom of Ukraine and its people. The Crypto community has always been a stronghold of liberty. Therefore the CoinGate team cannot abide such an alternative reality happening in Ukraine. 

We have decided to contribute and support the people of Ukraine by enabling donations to the National Bank of Ukraine with more than 70+ cryptocurrency donations,”

stated Dmitrijus Borisenka, co-founder of CoinGate. 

 

Crafting Innovation

CoinGate, a Lithuanian-based crypto-focused fintech company, was founded in 2014. The company works to bring cryptocurrencies closer to mass adoption by offering methods for setting up cryptocurrency payments for websites and physical stores.

Permission-based account management, fiat payout options, and brand new email billing features are just a few reasons why CoinGate has become the go-to payment processor for many users and businesses. Last year the company won the Global Brands Award 2021 of ‘Most Innovative Cryptocurrency Payment Gateway in Europe’. 

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