A Look Into How Cryptos Are Used For Charity Purposes

Cryptocurrencies and blockchain technology are gradually gaining acceptance, despite not yet being widely adopted globally. One area that has embraced the use of digital assets is the non-profit sector.

The use of digital assets, such as cryptocurrency, has grown rapidly in recent years, leading to changes in the demographics of donors, funding methods, and the overall landscape of charity. Let’s examine how cryptocurrency can be employed to support those in need.

In 2014, United Way Worldwide, the largest privately funded non-profit, announced that it would begin accepting Bitcoin donations through Coinbase, a move that was significant for charitable organizations globally. Since then, various charitable organizations such as As We Grow, Freedom of Press Foundation, and The Water Project have also begun accepting cryptocurrency donations.

Cryptocurrency investments are not only for generating wealth, but their underlying technology can also enhance the accessibility, usability, and security of donations. The transparency and immutability provided by cryptocurrencies, specifically blockchains, are important aspects in the non-profit sector as donors want to ensure that their funds are reaching their intended recipients.