Today, the possibilities to donate cryptocurrencies directly are very limited. This article is intended to draw attention to the day of action from the USA. Brought to life by THE GIVING BLOCK this day aims to promote the spread of crypto-donations.

Crypto donations already relevant today?

Buzzwords like bitcoin and blockchain are on everyone's lips. New asset and wealth classes have been invented with them and their acceptance is steadily increasing. A week ago, just Paypal made Bitcoin available to over 300 million customers/users and 26 million merchants in the USA. As is well known, the NPO sector is always a little behind in terms of digitalisation. Consequently, the field of "crypto-philanthropy" and thus also the "crypto-donations", which are now to gain more visibility with Bitcoin Tuesday, are less well known. The fact is the more accessible cryptocurrencies become, the more exciting they become in terms of generating donations. The best-known example of a crypto-donation is probably the Pineapple Fund. An anonymous donor who donated 5057 Bitcoins with a total value of approximately 86 million US dollars to 60 different charities.

The current market capitalisation of all cryptocurrencies is around 500 billion Swiss francs according to Coinmarketcap.com. The company specialising in cryptofinancial services alone Bitcoinsuisse.com speaks of 1 billion Swiss francs in crypto assets that it is allowed to manage. Anyone who studies the charts will notice that we are currently in a 2nd upswing of these assets. It is therefore worth looking ahead to the next chapter of this technical and financial innovation (possibly revolution) and making friends with expressions like the following: Tokenomics, Yield Farming, DeFi, NFTs, DAO.

But why should crypto donations be accepted: Exchanging cryptocurrencies for cash entails high transaction costs, which is a barrier to donations. Direct donations in the sense of wallet-to-wallet reduce the transaction costs considerably and increase the willingness to donate. In addition, this lowers the hurdle for a transaction. The fact that Paypal is introducing Bitcoins and is also a popular platform for transferring donations should give the topic new relevance.

On a personal note: The technicians at Fundraiso.ch, who have been in the cryptocurrency game since day 1, are now offering technical advice on crypto donations. Technologies are established faster than you realise. Don't miss the boat and benefit from your own strategy on the topic of crypto donations.

Your contact for questions: Moritz Gysel

Posted in Crypto Donations

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