Cryptobites with Baanx - Crypto Adoption in Ukraine Recap

On Wednesday, we hosted our latest episode of Cryptobites with Baanx, starring our very own Alex Shevchuk and Oleksandr Skladanovskiy.

This week, we talked about how crypto is helping Ukrainian citizens in need. Our guests also shared their personal stories on how they entered the crypto space, as well as their thoughts on crypto’s real-life use cases in Ukraine.

We were extremely happy to have these two wonderful team members join us. In case you missed it, here’s a breakdown of our discussion.

Alex’s Highlights

How long have you been in the crypto industry?

My story with crypto started in 2017, but before the market crash. At the time, I was working at 

crypto exchange CEX.io and was fully involved in crypto. I was excited about how crypto works (especially certain tokens, such as ETH). I tried to trade a little bit, but I just consider myself an investor, or HODLer. For now, I’ve picked up several interesting projects for myself and are following their development.

How long have you been in the Baanx team?

I’ve been in the Baanx team for almost a year. I joined in July 2021 and now I’m excited to work on many ambitious projects, including B2B and B2C business models.

Is there anything special about Baanx as a company that you would like to mention?

It’s a gorgeous young company with a great vision of the market. Baanx is trying to provide a connection between crypto and fiat, which is really important nowadays. The crypto market is still growing and it should be linked to fiat money from my point of view.

As a Ukrainian native, do you believe crypto is being used in Ukraine? Do you use it yourselves?

Ukraine is on the top list of countries with the largest crypto turnover. If I'm not mistaken, this rating was published by the Chainalysis company. Crypto is now widely used for donations for the needs of the country and the army. I've donated some of my crypto savings as well. 

Currently, I use crypto as an investing instrument.

As a Ukrainian currently living in Ukraine, would you say that cryptocurrencies helped you to overcome any obstacles?

Let's just say that, cryptocurrencies helped me not to lose funds in banks. Keeping money in the bank is not a safe idea for me at the moment. Having constant access to crypto, I can always dispose of them, which cannot be said about ordinary banks.

Also, as I mentioned earlier, this is a good way to donate with crypto - no matter where you are or what bank account you have.

As a company, we knew that some fellow Ukrainian colleagues might have been highly affected. It was shocking, but we’re proud to say that Baanx reacted quickly on this. Would you agree?

Yes. Unfortunately, no one was ready for this and there were hopes that everything would work out. But the enemy does not sleep. Thanks to each Baanx team member and the company, they morally supported me from the very first day and offered all sorts of help. Worries were visible in almost every meeting or company chat. Thanks for this!

Oleksandr’s Highlights

How long have you been in the crypto industry?

It was simply an occasion. I was looking for a job, and got an invitation for an interview in SupportYourApp, who were hiring support agents for Baanx. We had a lovely conversation with Carlos - our Customer Operations Manager - and now I’m here, exploring this brave new world of crypto!

How long have you been in the Baanx team?

I joined Baanx in December 2021, right before the New Year, so I can say that I’m still learning.

Is there anything special about Baanx as a company that you would like to mention?

I’m truly amazed with the team. Not only my operations department, but the whole Baanx team is just awesome! I’ve never experienced anything like that before.

What are the biggest challenges for crypto adoption in Ukraine, before the situation compared to now? 

I think it is a common problem for developing countries. People are quite xenophobic and it takes time to get used to new technologies and stuff like that. Also, the majority of information can be found only in English, and this fact also creates a kind of inconvenience for a lot of people here.

As a company, we knew that some fellow Ukrainian colleagues might have been highly affected. It was shocking, but we’re proud to say that Baanx reacted quickly on this. Would you agree?

From my side as a retired veteran, I was almost 100% sure that it would happen - it was just a matter of time. The Baanx team is literally amazing and your support means a lot to all of us. It really helped to overcome the hardest period. I can't express my gratitude for this. Thank you guys a lot.

As many people from Ukraine had to seek asylum in the EEA and UK, some of them have contacted Baanx to inquire about getting the CL card. As part of the customer operations team, what would you advise to a Ukrainian citizen willing to get a CL card?

On my side, I wish to confirm that if a Ukrainian citizen lives in a country where a CL card is available (EEA and the UK), one can order it. This is how Baanx can contribute to the people of Ukraine to overcome the current situation.

We’d like to give a special thanks to Alex and Oleksandr for their fantastic contribution to this week’s Cryptobites with Baanx. We’d also like to thank our loyal listeners for tuning in, and look forward to seeing you all again next week!