How to Donate Crypto to Ukraine
Russia’s expanded invasion of Ukraine last month has inspired support across the globe, from dozens of other nations to an army of anonymous crypto traders.
It's typical for a country to turn to taxes or bond sales to raise money for military campaigns. Ukraine however has turned to the world of cryptocurrencies to help raise millions of dollars in cryptocurrency donations, crowdfunded by strangers responding to a tweet from the country’s official Twitter.
We at Scallop support those that are suffering from the fallout of this war. Whichever side of the fence you fall though, it is an interesting moment in the history of digital currencies.
So you'd like to donate but don't know how? We are here to help
- 1.On board Fiat currency to an exchange
- 2.Buy either ETH or BTC
- 3.Send to Ukraines official address
For this we will be using Kucoin, we love this exchange as they have been an early supporter of Scallop and they list the SCLP token.
The below video shows how to use Kucoin, today we will be buying ETH or BTC instead of SCLP to send to Ukraine
This video covers buying SCLP, today we will be buying ETH or BTC
- 1.Go to https://www.kucoin.com/
- 2.Click ‘sign up now’ and enter your details and referral code if you have one. You will have to complete a KYC (know your client) to get going. This may take a few hours to confirm.
- 3.On the top left, click buy crypto and then select one Fast Buy
You can choose any method that works for you, in this case for simplicity we are covering 'Fast Buy'
- Choose USDT and enter how much you would like to purchase, then press ‘Buy USDT’
- On the following screen, confirm the amount you would like to buy, agree to the terms and conditions and then click ‘Go Verify Identity’
- Complete the KYC Verification
- Once completed and paid the USDT will be in your main account, go to ‘assets’ in the top right dropdown and select ‘Main Account (Deposits & Withdrawals). You will see your USDT here.
- Click ‘Transfer’ and move the USDT from your main account to your Trading account. This will allow you to trade it for ETH or BTC. Confirm.
You need to transfer coins from your Main Account to your Trading Account to exchange coins on Kucoin
Today we will buy some BTC to send
- Go to the ‘Trade’ dropdown on the top left menu and select ‘spot trading’
- This will open up the market screen. Click on the product at the top left to choose the right market, this usually defaults to BTC/USDT ..
Click Market order, and how much BTC you want to buy in the USDT window and click 'BUY'
Make sure it is a market order like below .. this will give you the best available price rather than place an order that will try and buy BTC at a lower price at a future date
Make sure its a market order not limit
Transfer the BTC back to your main account by pressing ‘transfer’ and choosing the direction ‘trading account’ to ‘Main account’
In the Main account, click 'withdraw' on the option for the asset BTC.. you should see it at the top of your assets. You will see the below window:
Copy the address from the official tweet
Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.BTC - 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1PETH and USDT (ERC-20) - 0x165CD37b4C644C2921454429E7F9358d18A45e14
Now paste Ukraines address, verifying it off their official twitter, into your window and choose the BTC network
Make sure you copy the BTC address and not the ERC-20 address.
It should look like this. The fee will be 0.0005 BTC which at the time of writing is £16.10
Press confirm and you will have done it!
You now also have a Kucoin account set up for future crypto adventures. We hope this was useful and we sincerely hope that those that are affected by this conflict remain safe and get the support that they need.