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For quite some time now, a lot of different organizations have leveraged the utility of cryptocurrency in order to receive donations easier. In major cities, there are even cryptocurrency transferal machines, which allow users to exchange and transfer their coins as they see fit. However, Bitcoin still holds the vast majority for the number of charities that accept coins. A good reason for this is that it has the largest number of users, and it is also because their current market value is still number one. There are certain things that need to be done before a charity can receive Bitcoins though.
The organizations that are willing to receive Bitcoins need to set up a Bitcoin account first. They would then register through the official website, and then select the type of wallet they wish to use, which is usually Web or Desktop. After the wallet is set up, people can then start giving donations. Just last year, generous Bitcoin holders donated $22 million worth of coins to Fidelity Charitable. This is considered as donor-advised funds, which can be used to make grants to charities.
Cryptocurrency is a flexible and convenient way to donate to charities. Although it is still not that widely accepted by the public, there are enough coin exchange entities that transferring coins to fiat money is of no issue. UNICEF has even launched a page that allows people to donate computing power, and use it to mine cryptocurrency. The users who want to donate can set what percentage of their processing power they want to contribute. This is just one example of how cryptocurrency has given us new avenues to contribute to charities and worthy causes. Here, we will be laying out the most popular charities that leveraged cryptocurrency in their efforts.
Antiwar.com is described as a libertarian website, which devotes itself to non-interventionism, and they also oppose imperialism and war. This online resource was launched in 1995, and their activity is basically aimed at stopping conflicts and reducing the reach and power of the military industry. They started working with Bitcoin in 2013, and have since then also started accepting certain altcoins for donations, like Zcash and BCH.
The group started as a response to the Bosnian war back in the 90s, and is currently focusing their efforts on the wars in the Middle East. Their website is filled with content that opposes war and violence, and because of their status as a non-profit organization, they rely heavily on donations. With the expanded avenues for receiving donations, the website has started increasing their efforts in order to inform the people of the horrors of war, and the detriment it brings to the people involved.
- Electronic Frontier Foundation
The EFF is an international NGO that is based in San Francisco, California. They are very well-known throughout the world as a charity organization that helps in defending civil rights in the virtual world. They have been doing this since 1990, and back in 2013, they started accepting Bitcoin as contributions to their cause. In the modern world that we live in, sometimes crimes are perpetrated easily due to the anonymity that the internet usually affords us.
Although there is already technology that helps law enforcers track down those who use the internet to do crime, it can still sometimes be a hit and miss, and EFF is one of the organizations helping in that effort. The donations they receive from the cryptocurrency community are said to go to internet lawsuits and software development.
This organization, which was established back in 2006 by the Australian internet activist Julian Assange, is an international and non-profit organization that publishes classified information such as news leaks and classified media provided by anonymous sources. They have been fighting for the freedom of information for a long time, and a lot of people have grown to trust the organization given the riveting (and sometimes sobering) but accurate information they’ve so far exposed. Back in 2010, credit card companies blocked the organization from receiving payments through their channels.
Considering the nature of their activism, it is expected that large and powerful financial and political entities would target them. After this happened, the organization then turned to Bitcoin as an alternative. Just last year, they also started accepting other cryptocurrencies for donations, which bolstered their budget which they use to provide even more classified information to the public. Any online merchandise that WikiLeaks offers on their website is available for payment via cryptocurrency as well.
- Water Project
The Water Project is a popular charity that has been helping men, women, and children in the sub-Saharan communities in Africa get access to clean, drinkable water. They lack access to this basic necessity due to the fact water sources are quite far from their communities. Usually, females in the community fetch water every day, spending hours trekking under the scorching sun to fetch dirty water for their village.
The group has been expending their efforts in changing that for the past 11 years, and so far have made substantial strides in their campaign. When they accepted cryptocurrencies, they have helped more and more people get access to clean water, which they use in their daily lives. In 2016 alone, Water Project received over $2 million in donations. This has helped make the lives of many people in communities better, and it has helped fund over 100 water projects since then.
- Code to Inspire
Code to Inspire is yet another non-profit group that aims to educate female students in Afghanistan. It was founded three years ago, and since then have provided education to hundreds of female students aged 15-25. CTI focuses on giving the Afghani women skills in software and online business, which is currently one of the top grossing industries worldwide.
This organization was initiated due to the fact that in Afghanistan, only 16% of the labor force is represented by women, and almost 70% of young women lack formal education, and are illiterate. The organization aims to change that, and wants to give the women in Afghanistan a chance to stand up, be educated, and then work for themselves.
In all truthfulness, not all donations are given from the heart. There are some contributors who freely admit they donate a part of their earnings in cryptocurrency to get tax deductions. But no matter the sentiment behind the act, the fact is that this money has helped thousands of lives all over the world. Because these charities have accepted new avenues of getting donations, it gives people more options to give.
A lot of charities are also considering allowing users to donate other altcoins as well. The CafeCoin Foundation, which is an up-and-coming cryptocurrency, is aiming to provide their users with an easier time to handle their coins even without in-depth technical knowledge. With cryptos like CafeCoin, more people will have an even easier time donating, and this will end with the charities getting more funds to bolster their respective projects and causes.