If you are feeling generous this holiday season, Coinbase has you sorted out. The exchange recently announced that it was collaborating with DustAid to enable its customers to make donations in crypto to worthy courses. According to the press release, customers at the exchange will be able to donate to three charities. These charities are Space for Giants, Edi Foundation, and NSPCC, which is a UK charity that works to protect young people from being abused. The service will only be available to Coinbase UK users.
About the Organizations
According to an official from NSPCC, accepting crypto donations highlights the organization’s effort to find new avenues via which they can receive donations to continue fighting for the rights of kids. Little Edi Foundation works to help children living in poor areas by offering them Christmas gifts, educating them, and feeding them. They believe that every child deserves to have a great future and to be educated. Space for Giants is an organization that works to protect animal reserves in Africa, specifically those where elephants live. The aim of the charity is to ensure that elephants and the environment can co-exist peacefully.
To make donations in crypto possible, DustAid will integrate Coinbase Commerce, which is a platform that makes it possible for merchants to receive crypto payments. According to an official from DustAid, blockchain technology could become an important tool for positively influencing lives globally. He added that he was grateful for the Coinbase partnership.
This is good for Crypto
For a while now, there has been a perception that crypto is only used by thugs, drug dealers, and hackers making ransoms. However, partnerships like this are helping to change that narrative. As long as crypto is used to make a positive impact on the lives of people, many more lawmakers and the public will be more accepting of the crypto sector.
However, it is still worth noting that crypto donations pale in comparison to fiat donations. One of the reasons is that crypto does not have a lot of liquidity. Besides that, it is quite difficult to find charitable organizations that accept crypto.
Besides crypto, the blockchain that powers digital currencies is changing how charitable donations are made. For many years, it has almost been impossible to track how donations to charities are used. This sometimes causes people to shy away from giving away their money, since they are not sure if it will be put to proper use. However, blockchain technology is changing that. With the technology, donors can track how their funds are used. This is good for non-profit organizations.
It will help to eliminate bad actors in the charity sector out to steal funds from people while encouraging more people to donate to charity due to the increased transparency. In general, only good things could result from charitable organizations embracing crypto and blockchain technology. It is possible more crypto exchanges will roll out similar features for their users.
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