Charities are turning to Bitcoin Donation In the war against the novel Coronavirus, cryptocurrency has emerged as a very necessary tool for philanthr
Charities are turning to Bitcoin Donation
In the war against the novel Coronavirus, cryptocurrency has emerged as a very necessary tool for philanthropic and fundraising projects. There are already many large non-profit organizations that accept bitcoin donations. In addition, some blockchain and cryptocurrency companies donate medicines to hospitals to control the virus, while others have set up fund-raising and charities to help victims.
As non-profit organizations continue to accept donations of cryptocurrency, they are beginning to recognize that cryptocurrencies can significantly reduce costs in terms of fees. The charities and fundraisers who receive donations in cryptocurrency are:
Coronavirus infection rates in Italy are surprisingly high. For this reason, the Italian Red Cross has moved to accept Bitcoin (BTC) and other crypto donations with the aim of setting up a second level advanced medical post using the proceeds of the campaign. Medical posts are used to prescreen coronavirus patients.
The project was so successful that its $ 10,710 funding goal was achieved by day three of the campaign. Since then, charities have been raising more money, targeting $ 26,000 through bitcoin and other crypto donations. The funds from the second round of financing are set to be used for the purchase of emergency equipment. So far, the organization has achieved about 85% of its goal.
The Water Project
Apart from social distance, one of the frequent calls by health professionals was to wash their hands. Undoubtedly, hand washing is one of the important ways to combat the spread of the coronavirus. Charities like The Water Project install and repair water stations throughout poor areas of Africa.
They have also taught the community how to wash their hands, how to free water from bacteria and other pathogens, and how to start and maintain other health controls. As the coronavirus is endemic in various parts of Africa, charities like The Water Project are important to contain the virus.
For the first time, the organization has launched a funding project called WaSH (Acronym for Water Sanitation and Sanitation) with the aim of raising funds to provide clean water and sanitation. In addition to standard donations, the Water Project also accepts encrypted donations for Bitcoin, Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC).
Binance Charity Foundation
Binance, one of the largest cryptocurrency exchange, recently launched the Crypto Against COVID initiative through the Binance Charity Foundation, a non-profit organization aimed at building a unified front within the crypto community against pandemics. So far, $ 1 million has been raised through the Foundation, with an overall goal of raising $ 4 million by the end of the campaign.
In addition to accepting bitcoin donations, Binance Charity records every transaction on the blockchain and increases transparency. Then, all crypto donations are converted to fiat currency and displayed on the organization’s website. The Binance cryptocurrency exchange has also pledged $ 1.4 million to help fight the virus.
Houbi, the leading Singapore-based cryptocurrency exchange, has also announced that it has established a charity that pledges up to $ 1.4 million. The company said in a tweet that the funds would be used to “purchase protective gear and donate to medical staff working at the forefront.”
According to a tweet from Uvoy’s Charity Wing, it has already completed the first round of the fundraising campaign and protective medical equipment has been delivered to the hospital.
When the outbreak of the coronavirus began, Wuhan, China, was the region most affected. The vast number of people infected with the virus in the area overwhelmed the state’s medical resources and lacked protective gear for medical staff.
As a result, blockchain marketing company Cryptical has launched a charitable fund aimed at obtaining medicines for coronavirus victims. The company’s charitable campaign is built on a blockchain-enabled donation system that promotes efficiency and transparency. When asked in an interview about the company’s motivation for launching a philanthropy, Margie Wu, CEO and co-founder of Cryptical, said the initiative was to protect healthcare staff.
Save the Children
Communities around the world are encouraged to wash their hands, access strong medical systems and maintain social distance, but refugee communities with densely populated camps are not You cannot enjoy luxury. In areas such as the Rohingya refugee camp in Bangladesh, children are the most vulnerable.
Save the Children is one of the charities that is leading the way in protecting children from coronavirus. The organization exists in more than 100 countries and strives to help children grow safe and healthy.
Save the Children, in partnership with The Giving Block, will continue to work on the goal of giving donations in Bitcoin and other cryptocurrencies, while at the same time giving children a specific future.
United Way Worldwide
United Way Worldwide started accepting Bitcoin until 2014 to make it easier for donors to support important causes. This was achieved through a partnership with Coinbase, one of the largest cryptocurrency exchange platforms.
United Way Worldwide is a non-profit organization focused on solving the most critical problems in communities around the world. During the global coronavirus pandemic, charities were part of a lobby group that supported the passage of laws to bring relief to victims of coronavirus. Currently, the United States Congress has signed legislation with a bill that includes several major victories for non-profit organizations fighting the pandemic epidemic.
The Giving Block
With the US Internal Revenue Service treating cryptocurrencies as property, those who donate cryptocurrencies to local charities receive enormous tax incentives. With this in mind, Giving Block has emerged as a solution that allows non-profit organizations to accept bitcoin and other cryptographic donations and benefit both donors and organizations.
In addition to helping nonprofits accept crypto donations, Giving Block also runs its own campaign called # cryptoCOVID19. The Giving Block is working to integrate the most important cryptographers in the fight against the coronavirus pandemic through a partnership with Gitcoin, an open source working platform for crypto enthusiasts. One of the goals of the campaign is to raise $ 100,000 in Bitcoin donations.
No Kid Hungry
No Kid Hungry is a campaign hosted by a non-profit organization, Share Our Strength, and as its name implies, this charity aims to eradicate child hunger and poverty in the United States. In response to the coronavirus pandemic, organizations have begun accepting both Fiat and Crypto donations. No children can go to school and benefit from school meals they rely on, so No Kid Hungry uses donations to provide 1.7 million healthy meals to children in need Offers.
Bitcoin donations help finance nonprofit projects
As the cryptocurrency and blockchain industries continue to grow, more innovators, creators and billionaires will emerge. This means that non-profits that accept Bitcoin donations are set to be competitive in the market.
Apart from the fact that Bitcoin donations open new opportunities for project financing, they also reduce fees that nonprofits may incur while trading. This makes it easier for non-profits to transfer funds and finance projects. In the long run, non-profits can release more money to invest in more projects. With the whole world at stake, there is a need for a solution such as that provided by donating cryptocurrencies.