Numerous towns and people have been affected by the devastation caused by the February 6 earthquake that struck Turkey.
In reaction to the tragedy, the cryptocurrency exchange Binance has announced that it would distribute $100 USD worth of BNB tokens to all Binance customers living in the earthquake’s hardest-hit areas. Adana, Adyaman, Diyarbakr, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, anlurfa, and Osmaniye are the ten cities impacted by the earthquake that will be checked for Proof of Address (POA) submissions submitted prior to February 6.
Even if the POA approach may not be 100 percent accurate, Binance has said that it is the best accessible tool for locating customers harmed by the earthquake. The entire amount of the gifts is believed to be around $5 million, or 94 million Turkish lira. Binance Charity has also established a public contribution address, enabling users to contribute to the Emergency Earthquake Appeal via BTC, ETH, BNB, BUSD, and XRP.
In the aftermath of natural catastrophes, it may be difficult for people to get access to regular banking services, particularly when they need it most for necessities such as medical supplies and food. As a result, the usage of crypto transfers for giving financial relief to crisis victims has grown in popularity, as they are quick, inexpensive, transparent, and unrestricted, making them ideal for offering aid in emergency situations.
Cryptocurrency has become an increasingly viable method for giving disaster relief. For instance, Crypto has been used to benefit individuals impacted by the conflict in Ukraine. Due to the crisis, aid groups have exploited cryptocurrency to offer financial support and supplies to individuals who cannot access regular banking institutions.
Other groups within the cryptocurrency ecosystem are also assisting the victims of the tragic Turkish earthquake. The cryptocurrency exchange Bitget donated 1 million Turkish lira ($53,000) to relief efforts on February 6.
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