Visit Ukraine - How much money did Ukrainians earn on cryptocurrencies in 2023?

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23 Mar. 2024

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How much money did Ukrainians earn on cryptocurrencies in 2023?

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How much money was earned on cryptocurrency in 2023?

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How much money did Ukrainians earn on cryptocurrencies in 2023?

In 2023, Ukrainians were actively engaged in cryptocurrency transactions and achieved significant financial success. Learn more about the impressive amount of money Ukrainian citizens earned on the cryptocurrency market last year

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Ukrainians have shown impressive success in the cryptocurrency sector in 2023, outperforming Japan, Canada, and other countries. According to the Ministry of Digital Transformation, Ukrainian citizens received up to $850 million in the cryptocurrency market last year, as evidenced by the results of Chainalysis' analysis.

How much money was earned on cryptocurrency in 2023?

It is noted that Ukraine has significant potential as one of the largest centers of cryptocurrency operations in Eastern Europe. Last year, the country was ranked 12th in the world ranking in terms of profits from investments in cryptocurrency assets, ahead of countries such as Brazil, Japan, and Canada.

Chainalysis

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In total, in 2023, cryptocurrency investors around the world earned a total of USD 37.6 billion (compared to USD 127 billion in 2022).

The United States remains the leader in the ranking with an amount of $9.36 billion. Also among the leaders in this area were the United Kingdom and Vietnam with a profit of $1.39 billion and $1.18 billion, respectively.

The Ministry of Digital Transformation noted that in 2023, together with business representatives, a draft law on virtual assets No. 10225-1 was developed. The main goal of this project is to create favorable conditions for working with a new class of assets and establish transparent taxation rules.

"Legalization of the crypto industry will help attract most of the foreign investment needed to rebuild our economy, and Ukrainian blockchain specialists will be able to realize their potential at home," the press service of the agency emphasized.

We remind you! Ukraine is among the top 3 countries in the world in terms of cryptocurrency use. Read more about what services allow you to pay with cryptocurrency and what you can buy with it in Ukraine in our previous article.

Want to know more? Read the latest news and useful materials about Ukraine and the world in the News section.

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- - What COVID documents do I need to have with me when entering Ukraine now?
    On July 1, 2023, the Ukrainian authorities lifted the quarantine and other restrictions imposed due to the COVID-19 pandemic. From now on, you do not need to provide proof of vaccination, a negative PCR test result or wear a protective mask to enter Ukraine.
  - Is it safe to visit Ukraine during the war?
    Recently, the number of foreign travelers has increased in Ukraine. They visit the country for various purposes: volunteering, participating in humanitarian programs, filming reports or documentaries, setting up a business, etc. There are currently no cities in Ukraine that are completely safe. And although the main fighting is concentrated in the eastern and southern parts of Ukraine, the entire country is subject to regular rocket attacks.
  - What are your safety recommendations before traveling to Ukraine?
    Here are some important tips:
    • Make electronic copies of all documents and save them on your electronic device so that you always have access to them.
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    Do foreigners need to register their stay in Ukraine?
    No, if the period of stay in the country is no more than 90 days. If a foreigner arrives for a period longer than 90 days, in this case, he or she needs a temporary or permanent residence permit, as well as registration at the place of residence.
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    Yes. Foreigners (except for citizens of the Russian Federation) and stateless persons have the right to enter and legally stay in Ukraine if they have a temporary or permanent residence permit that has expired or is subject to exchange after February 24, 2022.
    How to enter Ukraine with pets?
    Currently, entry to Ukraine with pets is subject to a simplified procedure. Pet owners must provide the following documents to customs:
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    Foreign citizens can import cars with foreign license plates into the territory of Ukraine exclusively for their own use. To cross the border in a car with foreign registration, you need the following documents:
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    Important: foreign nationals with a residence permit in Ukraine may import a car with foreign license plates for their own use after a written declaration and payment of customs duties.
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    Foreigners and stateless persons who are not allowed to enter Ukraine, when attempting to enter Ukraine at a checkpoint across the state border of Ukraine, do not cross the state border of Ukraine and return as soon as possible to the state from which they came or to the state that issued their passport document. If it is not possible to return a foreigner or stateless person immediately, they stay at the checkpoint across the state border of Ukraine until their return.
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    If you become aware of a ban on entry to Ukraine while trying to pass passport control at the border of Ukraine, you should politely ask for a decision to refuse to cross the border, indicating the specific reason for the entry ban. You can appeal the decision to deny entry within 30 days from the date of familiarization with it. It is strictly forbidden to argue with border guards or violate the rules of stay at the checkpoint, otherwise you may be held administratively liable. You should remember the rules of staying at the checkpoint.
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  Is insurance required to enter Ukraine?
  All foreign citizens are required to have an insurance policy covering the costs of Covid-19 treatment in Ukraine.
  For how long do I have to take out an insurance policy?
  According to the Resolution of the Cabinet of Ministers of Ukraine No. 1236, an insurance policy must be issued for the entire period of stay in Ukraine. The minimum period is not specified.
  Where can I get acquainted with the terms of the insurance contract?
  You can familiarize yourself with the terms and conditions of the insurance contract on our website in the section on insurance policy issuance.
  Is it necessary to buy an insurance policy for children?
  Yes, if a child has foreign citizenship, regardless of age, he or she must have an insurance policy for the entire period of stay in Ukraine.
  I am a foreign citizen, can I buy a policy in Ukraine?
  No, the insurance policy must be presented at the border control.
  What is war risk insurance and what war risks does it cover?
  This policy guarantees monetary compensation in the event of an accident as a result of military operations, passive military risks, terrorist acts, including emergency care, outpatient treatment, hospitalization and repatriation of the insured person (or his/her body in case of death) from the place of stay to the place of his/her permanent residence.
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  The insurance policy applies to foreign nationals, citizens of another state and stateless persons. There are no age restrictions: minors and people over 70 can buy insurance. In addition, insurance is mandatory for journalists, reporters, correspondents, opinion leaders, and media representatives. This is enshrined in the Law of Ukraine on Insurance (Article 7).
  What is the territory covered by the insurance policy covering war risks?
  The insurance policy is valid on the territory of Ukraine, except for the temporarily occupied territories of Luhansk, Donetsk, Kherson and Zaporizhzhia regions and the Autonomous Republic of Crimea, as well as the territories of direct combat operations (front line).
  Are there any restrictions on the validity period of the insurance policy covering war risks?
  The insurance contract comes into force from the moment the insurance premium is paid in full, but not before the date and time of crossing the state border of Ukraine. You choose the duration of the insurance - it depends on the number of days of your stay in Ukraine.
  I can't pay for the insurance, what should I do?
  If your payment fails, we recommend contacting your bank, as they often do not trust payment systems. You need to confirm that it is you who is making the transaction.
  I have taken out insurance, but I have not received a code. What should I do?
  In this case, we advise you to reload the page, clear the cache, change the language on the page, or use a different browser.
  What should I do if the policy does not arrive at the specified mail for more than 30 minutes?
  Please contact the hotline and provide the data that was specified when applying for insurance.
  Do I need to print out the electronic policy?
  You do not need to print out the electronic insurance policy. It is enough to save it to your phone or tablet to always have access to the document and present it to border control representatives.
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  Please inform the portal hotline about the reasons for the trip cancellation and we will be happy to reschedule the dates for you.
  What should I do if I provided incorrect data when applying for an insurance policy?
  You can always contact the portal hotline and we will make the necessary changes to the insurance policy free of charge and promptly.