Coin exchange gives Ukrainian users 1000 USD in Bitcoin

As a measure to support the people of Ukraine, recently, the Kraken cryptocurrency exchange has launched a rescue package worth 10 million USD to the people of this country.

Thereby, from today, all Kraken users living in Ukraine will receive the corresponding amount of Bitcoin worth 1,000 USD. This Bitcoin can be immediately exchanged or withdrawn from the exchange if the user wishes. In addition to the aforementioned Bitcoins, Kraken will also have a support of $1,000 per user to cover the currency conversion fees incurred.

“We hope to continue to provide critical financial services in a time of need for both our customers in Ukraine and in Russia,” said Jesse Powell, CEO of Kraken. Death is an important humanitarian tool, especially at a time when many people around the world can no longer rely on traditional banks.”

Of course, users will have to meet certain conditions of Kraken to be able to receive this allowance. Specifically, the user’s account must be created before March 9, 2022 and have passed Kraken’s KYC round in terms of identity and financial conditions to reach the account level “Intermediate” (Intermediate) or “Pro” ” (Professionally).

Kraken’s subsidy program for Ukrainian users will be extended in several stages from now until the end of Q2 2022, with each phase having a different subsidy amount.

It is worth noting that besides the amount of money that Kraken spends, the subsidy that Ukrainian users receive is also calculated based on the fee that Russian users pay to the exchange. For example, if a customer in Russia pays Kraken a fee of $5,000,000 and there are 10,000 eligible Ukrainian accounts at the next grant, each account will receive $500 worth of Bitcoin.