Nowadays, there is no secret that cryptocurrencies are already actively recognized by society and used for the purchase of services and goods. At the moment, the scope of crypto assets applications is expanding. Commercial and even some government entities have begun to use both blockchain technology and cryptocurrency donations. On donation platforms, people may often notice that along with the usual methods of collecting money (a request to provide details of credit cards), they can find details of crypto wallets.

Charity organizations are often unable to accept endowments from other countries. The cryptocurrency allows receiving donations from all over the world without high fees, delays, and account blocking risks. In this article, we will tell you about some organizations and charities that accept cryptocurrency and support blockchain projects helping others.

For example, old-timers of this sphere — Greenpeace, the Water Promise, United Way — started digital wallets, and the public organization Fidelity Charitable raised $7 million in two years of working with Bitcoin.

Many non-profit organizations save about 30% of donations as bonuses and administrative expenses. Specific information on invoices is not provided. There is a shadow economy. The blockchain also allows to track the movement of funds up to a specific recipient, and this strengthens the reputation of charitable organizations.

UNICEF

Pineapple Fund

There are projects like Charity Mine, Give Bytes, Bail Bloc that allow users to help people without spending any coins. To do this, it is enough to provide the power of the computer for mining. The Fund converts the collected assets into fiat and transfers them to the necessary organizations.

Charity coins

  • For example, Clean Water Coin, which raises funds for projects to deliver drinking water to regions suffering from water shortages;
  • Pinkcoin, which allows donors to earn income from their investments;
  • Impak Сoin, which is intended to raise funds for social impact projects;
  • RootProject, which finances projects to combat poverty.

However, such initiatives have not been widely adopted — after all, instead of charity coins, you can donate classical Bitcoin.

Cryptocurrency donations worldwide

In addition to globally-minded funds that support people, natural resources, and other things, it is worth mentioning that communities also try to help specific people or countries collecting donations for a certain case. For example, when it is necessary to fight against natural disasters or rescue affected objects and art pieces. Among recent events, the support for the fight against fires in Australia should be noted. Board member at Blockchain Australia and founder of the YouTube channel Nugget’s News, Alex Saunders, wanted to “show the world the power of Bitcoin” and encouraged his subscribers to donate and use the leading digital currency.

The fire in Notre Dame left few people indifferent: companies, governments, and individuals are donating hundreds of millions of dollars to restore a unique historical monument, and the Bitcoin community has not been left out. Gregory Raymond, the anchorman of French podcasts about Bitcoin, organized the collecting of cryptocurrency donations. Funds should be transferred to the restoration of the cathedral.

To sum up, we would like to say that the growing popularity of crypto donations may indicate that charities understand the prospects of a new channel for attracting money. However, the speed of the new technologies introduction is limited by several factors: the volatility of cryptocurrencies, legal uncertainty, lack of awareness about cryptocurrencies among a wide range of donors, and others.

If you want to contribute to an organization, first of all, you should get acquainted with it, find out its history, how positively it has established itself and if it has a good reputation. In some cases, if you have any doubts, you may need to contact the organization’s representatives directly to get more information about money transfers. Remember to check bank details and details of official websites so that you don’t run into scammers.

Feel free to follow our updates and news on Twitter, Facebook, Reddit and Telegram.
Read what the customers say about SimpleSwap on Trustpilot.
Don’t hesitate to contact us with any questions you may have via
support@simpleswap.io.

# cryptocurrency donation# crypto funds

Originally published at https://simpleswap.io on November 26, 2020.

SimpleSwap is an easy-to-use instant cryptocurrency exchange. Free from sign up, limitless swaps, support more than 300 cryptocurrencies. https://simpleswap.io