Ukrainian Refugee Reaches Poland With Only $2000 Worth Of BTC

A Ukrainian refugee reached Poland with only $2000 worth of BTC in his pocket, a month after the war began in the country so let’s read more today in our latest Bitcoin news today.

The Ukrainian Refugee reached Poland with $2000 worth of BTC that he held in a USB drive and he said:

“I couldn’t withdraw cash at all, because queues to ATMs were so long, and I couldn’t wait that much time. I could just write my seed phrase on a piece of paper and take it with me.”

Fadey said that he made a peer-to-peer exchange with a friend and traded $600 worth of his savings for the Polish national currency zloty. He used the funds to pay for transport into Poland and some accommodation. Fadey added that he was unable to transfer the funds to Poland which is why it was important that he had crypto for his financial welfare. Other than his BTC holdings, Fadey holds an undisclosed amount of the privacy crypto Monero on Binance. Fadey’s story is only one of Ukraine’s growing reliance on crypto in the wake of Russia’s attack from a month ago.

Just two days after Russia’s Invasion of Ukraine started, the Ukrainian government announced that it got donations in BTC and ETH and according to the records, the addresses received over $15 million and $25 million in BTC and ETH.

As recently reported, The Russian invasion of Ukraine sent millions of refugees fleeing to different countries and Portugal was no exception. Despite the bigger distance from the conflict zone, the country already accepted 13,000 refugees over the past week after the authorities in Lisbon simplified their arrival providers. Some of them that worked in the crypto industry are likely to find an easier way to settle down in Portugal rather than some other countries on the continent. Much like Ukraine before the war, the EU member state is becoming a crypto hub thanks to its BTC-friendly policies and crypto tax regime.
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Portugal maintains a zero-percent levy on profits from private crypto investments so when these gains are not resulting from professional activities, they don’t become subject to income tax. Some foreign nationals can benefit from the 20% income tax and the 10% tax on pensions.