Binance to support users in Turkey’s earthquake region with $100 airdrops in BNB tokens

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The devastating earthquake that hit Turkey on Feb 6 has left a path of destruction in its wake, affecting quite a few communities and people.

In response to the tragedy, cryptocurrency exchangeBinance has announced that it’s going to airdrop $100 USD price of BNB tokens to all Binance customers residing in areas hardest hit by the earthquake. The method of figuring out eligible customers will contain checking Proof of Handle (POA) submissions made earlier than February sixth in ten cities affected by the earthquake, together with Adana, Adıyaman, Diyarbakır, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, Şanlıurfa, and Osmaniye.

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Though the POA methodology will not be 100% correct, Binance mentioned itconsiders it to be the most suitable choice obtainable to find customers affected by the earthquake. The estimated complete worth of the donations is round $5 million USD (94,000,000 TRY). Binance Charity has additionally arrange a public donation handle, encouraging people to donate to the Emergency Earthquake Enchantment utilizing numerous cryptocurrencies, together with BTC, ETH, BNB, BUSD, and XRP.

Following pure disasters, people incessantly encounter challenges accessing conventional banking providers particularly once they want it probably the most for important wants akin to medical provides and meals. To fight this downside, the usage of cryptocurrency transfers has turn into more and more widespread for delivering monetary assist to catastrophe victims, since transfers are speedy, cost-effective, clear, and unrestricted, making them well-suited for offering assist in emergency circumstances.

Cryptocurrency has more and more turn into an answer for delivering assist within the aftermath of disasters. For instance, in relation to the war in Ukraine, cryptocurrency has been used to offer assist to these affected by the warfare. Assist organizations have utilized crypto to ship monetary help and provides to those that are unable to entry conventional banking providers because of the battle.

Related: Binance to temporarily suspend bank transfers in US dollars beginning Feb. 8

Within the aftermath of Turkey’s earthquake, organizations inside the crypto ecosystem are stepping as much as assist the unlucky victims. On Feb 6, cryptocurrency trade Bitget introduced that it had dedicated 1 million Turkish Lira to help reduction efforts to assist folks affected by the earthquake.