Is it better to donate using cryptocurrencies?

Apr 6, 2022
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           Every social or nonprofit project needs resources to get off the ground. Ideally, each initiative should have access to funds from its early stages or even before it gets underway, and these funds should help meet the objectives set by its creators.

However, this is not always possible. Sometimes the requirements of the projects exceed the costs estimated at the beginning and a new injection of resources is indispensable. It is here when the value of donations takes on an important meaning since these are the ones that allow any project that starts from a personal initiative and lacks the capital to emerge, counting on the help of active collaborators who believe in the cause.

Thanks to the facilities of the internet making donations are possible with a click, but even more, due to the invention of new technologies such as Blockchain, donating can be surrounded by multiple additional benefits, such as expansion, security, and profit through the creation of tokens.

Why is it important to donate?

          Ultimately, solidarity, altruism, and empathy are current and necessary values. When a society, company, or citizens join together to collaborate for a social cause, the chances of success are greater. Donations are a fundamental element in many projects, especially if the resources allocated for them or institutional contributions fail to cover the needs that have driven them. Consequently, donating can have a significant impact on the well-being of society as a whole.

To donate means to contribute, to give impetus to initiatives of any kind. Those who carry it out understand the importance of the work being done and therefore decide to donate money so that it can be carried out.

When we donate we recognize the existence of a problem or a necessity that needs to be solved, but we are also helping to solve problems in the environment in which we live and to mitigate their adverse effects for our own welfare.

Why use cryptocurrencies?

          We already know that it is good and necessary to donate, but is there any advantage to doing it with cryptocurrencies?

To tell the truth, in the last few years, hundreds of millions of dollars in cryptocurrencies have been donated to multiple causes, from large anonymous Bitcoin donations to thousands of small individual donations. Initially, though, it was not a manageable resource for everyone due to its complexity. Today, donating through cryptocurrencies is efficient from many points of view:

Fast and convenient donation

          Many donors around the world have popularly preferred to donate using their credit or debit cards because it is a relatively simple online procedure. However, transaction fees range from 2-7% and can reduce the actual amount of donations received by organizations around the world. A donation delivered through cryptocurrencies perceives less financial loss and constitutes a greater contribution to the social projects or initiatives that await it.

Through cryptocurrencies, it is possible to send a larger amount of money with minimal commissions, and these can be made directly from the donor's pocket to the pocket of the institution or person receiving the donation.

Facilitates the adoption of cryptocurrencie

          A great benefit we can mention is the massification and/or adoption of more cryptocurrencies. The reason why this is important is that it allows trade to be sustainable as the volume and crypto movements and transactions increase.

We can also consider that the possibilities of donating in various countries increase since transactions can be made without taking into account official currencies, bank accounts, or limitations imposed by the government. More and more people can take part in it, just by using their computers or phones connected to the internet.

It can generate profits

          Through initiatives or platforms such as MintMe.com, token creation can deliver a whole new approach to create a win-win situation for donors and token creators. It is intended to create a direct donation method/means that also includes the possibility for the donor to collect future profits if the project they support decides to commercialize their tokens.

This is a new perspective about donations made with cryptocurrencies, which initially only meant profit for one party. With the use of tokens, any organization can ask for help and convince interested parties of its genius and growth possibilities, allowing them to also participate in the success of its work even if there are no legal obligations that jeopardize the absolute autonomy of the token creator and the personal satisfaction of the donor.

Mary Schwartz