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The convergence of charity and cryptocurrency has developed in recent years as more individuals and organisations have begun to use cryptocurrencies to make charitable donations. One significant benefit of adopting cryptocurrency for charity is that it enables direct and rapid payments to groups and causes, avoiding traditional intermediaries such as banks and governments. This has the potential to increase openness and efficiency in the contribution process. Furthermore, cryptocurrency gifts may be done anonymously, which can benefit both the giver and the recipient.
In this article, we will be looking at how Bitcoin (BTC), NFTs and meme coins like Big Eyes Coin (BIG) are making a difference in the world with philanthropy.
Yan Pritzker, the co-founder of Swan Bitcoin, used Bitcoin (BTC) to deliver cash to the organisation Ukraine TrustChain during a financial problem in the early days of the war. Pritzker explained that he was able to convert dollars to Bitcoin and send them through Kuna, a Ukrainian exchange, before converting them back to Ukrainian currency and transferring them to the debit cards of Ukraine TrustChain volunteers.
Pritzker pointed out that a single transaction is nowhere near as slow as many critics think, usually able to have money ready within the hour. And though many detractors of Bitcoin point out volatility as an issue with using it as a method of payment or donation, Pritzker emphasises that the volatility minute to minute is not something you need to worry about.
Of course, Ukraine TrustChain is not the country's only charity that accepts Bitcoin. Ukraine got "near to $100 million" in crypto donations less than two weeks after releasing its bitcoin wallet address on Twitter, according to Alex Bornyakov, Ukraine's deputy minister at the Ministry of Digital Transformation.
The Giving Block is a payment processing firm for NGOs who wish to take cryptocurrency and NFT-related payments. It also acts as a marketplace that connects crypto donors with cryptocurrency-accepting nonprofits. According to Morning Brew, the firm works with around 2,000 clients. With 1.8 million charities in the United States, this is a tiny but potentially significant figure that appears to be expanding.
One of The Giving Block's largest success stories is the support of Orangutan Outreach, a nonprofit to protect and care for displaced orangutans until they can be restored to their native environment. They began collecting cryptocurrency through The Giving Block two years ago and generated one million dollars in crypto- and NFT-related donations in their first year, substantially increasing their operational budget. They also received big donations from the community of the Bored Ape Yacht Club, with several "apes" contributing their NFT sale revenues to the NGO.
Additionally, donations relating to NFTs have skyrocketed in recent years – they account for 20%-30% of donations on The Giving Block. Donating NFTs is incredibly unique for example you could donate 25% to 50% of the original selling price to a charity, but also include future revenues in the contribution process. Donors can design NFTs such that 5% of the resale price goes to a specific charity each time they are resold, resulting in a recurring and sustainable stream of income for the charity.
Big Eyes Coin (BIG) is one of the most promising new meme coins on the block, having raised $21 million in pre-sale. It is an ERC20 token supported by the Ethereum network. Ethereum used to employ a proof-of-work system, similar to Bitcoin, but this changed in September 2022 when the whole Ethereum network switched to a proof-of-stake protocol, known as the Ethereum merge. Ethereum was able to meet the same degree of efficiency as networks like Cardano with this new protocol, making Ethereum a considerably more environmentally friendly coin.
Big Eyes Coin is committed to donating to ocean sanctuaries to help alleviate the damage done to marine life in the oceans caused by oil spills, plastic pollution, and overfishing. It not only donates regularly through one-time gifts, such as recent contributions to The Fruit Tree Planting Foundation and The Sea Shepherd but there is also a dedicated charity wallet built into Big Eyes Coin's tokenomics that holds 5% of all BIG tokens. Big Eyes Coin is an excellent meme coin to pick up if you are an environmentally conscious investor because of its emphasis on giving back to the world.
While there are certain hurdles to adopting cryptocurrency for charity, it may also be a great instrument for making a beneficial influence on society and tackling societal concerns.
Big Eyes Coin (BIG)
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
