Cryptocurrency News

Amid Russian Invasion, Ukraine Has Started Accepting Dogecoin Donations

In order to generate funds in the wake of the Russian invasion, the Ukrainian government added Dogecoin to its list of approved cryptocurrencies

Ukraine has increased the number of cryptocurrencies it is accepting for military donations amid the ongoing conflict with Russia. People can contribute Dogecoin as a donation, according to Mykhailo Fedorov, Ukraine’s vice prime minister. Dogecoin is a cryptocurrency that began as a joke and has gained traction gradually, It is often referred to as a “memecoin”. In his tweet, Mr Fedorov stated that Dogecoin had exceeded the Russian Ruble in value, and went on to add that “now, even meme can support our army and save lives from Russian invaders”.

Many cryptocurrency holders are extending a helping hand towards Ukraine. This is a step to empower them to fight against the invasion and help the citizens in this difficult time. Crypto donations are pouring in from every possible corner of the world. These donations will be used by the Ukrainian government in need.

Till now, Ukraine was only accepting cryptocurrencies such as Bitcoin, Ethereum, Tether, Solana and Polkadot. Anticipating the attacks to become more ferocious, Ukraine has now increased the number of cryptocurrencies it accepts for donations.

Uniswap, a cryptocurrency exchange, has also developed a feature that would enable users to convert any Ethereum-based digital currency into ether and send it to the Ukrainian government.

The Ukrainian government had even announced an airdrop for March 3 but cancelled it about 29 hours after the initial announcement was made. Mr Fedorov tweeted, “After careful consideration, we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the aggression. Instead, we will announce NFTs to support Ukrainian Armed Forces soon.”
Non-fungible tokens, or NFTs, are one-of-a-kind assets that are verified and monitored using blockchain technology, such as a piece of digital art. The Ukrainian government has also received hundreds of NFTs, including a valued CryptoPunk, in addition to cryptocurrency donations.
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