Much of the growing interest in Bitcoins and other digital currencies has focused on individual financial gain. However, for those who prefer to use their digital assets to make positive changes in the world, there is also the opportunity to donate funds to charity using cryptocurrency savings.
This article will talk about cryptocurrency donations, why cryptocurrency transfers are attractive to charities, as well as about the positive features of donations with the help of electronic money. Tell us more about the GiveCrypto project, whose work is aimed at crypto help to those in need.
There are several reasons why the provision of assistance and cryptocurrency transfers are attractive to charitable organizations. For example, the speed of delivery and transparency of transfers, as well as the pseudonymity provided to those who do not wish to publish information about their charity, are attractive.
In 2018, high-profile charity events were presented by representatives such as Coinbase CEO Brian Armstrong, who launched Givecrypto.org, a platform that distributes funds to those living in poverty.
Armstrong said he always believed in the power of cryptocurrency-funded philanthropy, and his new non-profit organization is dedicated to empowering, educating and raising the level of global communities.
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Give Crypto is a charitable international organization that uses blockchain technology to distribute payments to needy people using cryptocurrency.
The project was launched on June 27, 2018 and was founded by Rose Broom and Brian Armstrong, who began donating with $ 1 million of their own cryptocurrency. In addition to Armstrong, initial donations were received from well-known crypto-investors: Chris Larsen, Ron Conway, Fred Wilson, Brad Garlinghouse and Zooko Wilcox, Fred Ehrsam, Linda Xie, Kathryn Hahn, Matthew Roszak, and others.
To date, more than $4 million has been transferred through the project. The foundation is designed in such a way that 100% of the donated funds go to the recipients, and the operating costs are borne by the founding members.
Give Crypto works by region to determine the distribution of funds personally, as well as collaborate with other charities.
The main goal of the project
"Our first goal is to collect donations of 10 million dollars. We recently opened, but we were able to attract $ 4 million. With our project we want to encourage and inspire new philanthropists with donations." – Brian Armstrong, founder of GiveCrypto.org.
Stages of payment and withdrawal
The process of collecting and issuing donations consists of three steps:
- The investor transfers the cryptocurrency to the GiveCrypto.org account.
- The platform distributes donations and makes direct transfers to those in need.
- People use funds for food, medicine, education.
The transfer is made to a personal account or by email to the recipient. Further, receiving funds, for example in bitcoins, can exchange them for real money of their country.
Crypto is a great donation choice
Cryptocurrency donations are an opportunity to create a movement that reveals the power of cryptocurrencies for people and families around the world who need it most. Crypto can be an excellent choice to help get millions of people out of poverty and accelerate the pace of innovation around the world.
"We believe that people in essence want to do good." – Give Crypto.
Editor: Yuliya Soroka