Press Release: Crypto Expat’s new platform allows the liquidation of digital assets in the UAE. Also, it facilitates life without a bank account. The platform brings financial advantages amidst the current geopolitical tensions for everyone.
28 March 2022:
Crypto Expat’s crypto platform helps users cash out, regardless of nationality and overall geopolitical situation.
Bitcoin to the rescue in Ukraine
Bitcoin and crypto managed to achieve an unprecedented role in the Ukraine war. Digital assets support the government raising millions of dollars to fight against the Russian invasion.
The nascent crypto industry managed to change its reputation, and it has a massive impact amidst the clouds of war. Ukrainian officials posted addresses for two crypto wallets on Twitter, and donors had a direct and clear address to which they were able to send contributions.
Official reports revealed that the wallets got $10.2 million four days after the invasion.
Since then, more crypto has been raised, with the “Crypto Fund for Ukraine” run by Michael Chobanian. He is the founder of the Ukrainian crypto exchange Kuna, and the fund is accounting for 60 percent of all donations.
“We are still collecting crypto. It is being spent on aid like daily rations and bullet-proof vests and helmets,” the 37-year-old Ukrainian told AFP.
There are indeed risks associated with crypto, but Chobanian is confident that it will become a core part of the Ukrainian economy.
“When we win the war, we will rebuild Ukraine using blockchain technology. All of us were helped by crypto.”
Benefits of donating in crypto
Crypto donations are valuable to Ukraine because they are less influenced by geopolitical or macroeconomic factors. Inflation led to the depreciation in the value of the Ukrainian hryvnia.
Another advantage of donating in crypto is the high speed of transfers – banks transfers can take up to 24 hours to get validated between two countries, while sometimes crypto transfers occur instantly.
Drawbacks – The Importance of Cashing Out
Cashing out can sometimes be a problem with crypto. Ukrainians have been fleeing the country due to the war and in such times, cashing out shows its true value.
Crypto cannot always be manipulated as easily as fiat money. This is mostly due to their decentralized and unregulated nature. Crypto Expat is a new platform that allows users to cash out in the UAE.
The platform enables users to live without a bank, and they also accept crypto for property, services, and products as well.
Here’s what a Crypto Expat spokesperson has to say about cashing out in the UAE amidst the geopolitical situation we’re currently in:
“UAE is one of the most luxurious and desired places on earth to be at the moment. There are a lot of reasons for which you will definitely want to spend your wealth here.”
The rep from Crypto Expat continued and detailed some important data about the transactions:
“So far, we have had over 10,000 enquires, especially during the worrisome geopolitical scenery. Not to mention the pending transactions which are over 17 million.”
About Michael Chobanian
Michael Chobanian is the man behind the Ukrainian crypto exchange “Kuna”. He brought in 60 percent of all contributions that were received.
He also confirmed the fact that the money was split between two funds. One was for providing food and protective clothing (such as helmets, bullet-proof vests for people), and the other was used to buy weapons for the Ukrainian army.
About Crypto Expat
Crypto Expat is the one-stop concierge service for the crypto expats in the United Arab Emirates, cash out, buy properties and get a tax-free visa, all with cryptocurrency, no bank required.
Dealing in crypto saves you a lot of time, and UAE’s requirements to buy properties using digital coins are clear and concise.
Crypto Expat service allows you to purchase properties from any developer or seller while being able to enjoy maximum security and confidence.
This is what cryptocurrencies are all about: you are the owner of your money, and the security of your wealth has never been closer.
Cryptocurrencies became the peak of tech innovation, and UAE is the best place for enthusiasts.