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Charity in crypto. Is that real?

Why would not that be real?

Cryptocurrency and Blockchain technology have shown new methods of making money and have created new approaches to charitable fundraising.

Charity is a non-governmental voluntary non-paid activity aimed at supporting people or organizations, which do not have enough resources to be fully operational for whatever reason.

Targeted charity is particular assistance to distressed people/organizations. Non-targeted charity is money transfers to non-profitable organizations. In both cases, you expect your funds to be used for the intended purposes. With the use of distributed ledger technology, any charity becomes targeted. The amount of transfer and address of the sender/recipient are permanently preserved and displayed on the blockchain. All transactions from this wallet are public. Therefore, corruption in non-profit organizations, which accept and send payments in cryptocurrency, becomes impossible.

Vitalik Buterin, the founder of Ethereum, transferred over 50 trillion Shiba Inu meme coins, worth an estimated $1.2 billion, to the India Covid Crypto Relief Fund.

He also donated $50M of Ethereum to the GiveWell company supporting charities with evident proof of aid.

Security, transparency, and intent are the key decisive factors of using cryptocurrency for charitable purposes.

Cryptocurrency transactions are way more favorable and quicker than operations with traditional currency. Since cryptocurrencies are international, the expenses on currency conversion get eliminated as well as the cost of gatekeepers in the form of banks and payment operators.

Also, all the operations with cryptocurrency are recorded on the blockchain and signed by a cryptographic signature. It enables people to keep track of all the operations made.

For instance, a philanthropist can always see how his money is being used by looking at a blockchain scanner. It helps to build trust and credibility between charitable organizations and society.

Do you contribute to charities?

We encourage you to do this only by using cryptocurrency. You can rest assured your funds will be used as intended.

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