Are cryptocurrencies suitable for donations?

[BrolySSJ]

To a large extent there are many that have started to make use of crypto and to accept it as a currency, despite the governments not being full on board with it yet. In fact there are even non-profit and charity organizations that are accepting crypto donation as well. However, do you think cryptocurrency is suitable for these donations?

If you think about it, you will notice that many joined crypto in order for them to retain their anonymity in the market and to be able to transact as such. Therefore, will having this in donation centres and so forth increase the likelihood of fraud in these sectors as the people handling the crypto will not be able to be held accountable for missing donations? What are your thoughts on this? Is there a way to perhaps counter this in the future?

 

[Ralphjoe]

Cryptocurrencies is good for donations In all way round, there is absolutely nothing to think about, before you give out on charities, atleast you must know the organization that you are donating for, they will definitely have an official cryptocurrencies wallet address on the organization's official website.

 

[Sake]

I've seen a guy donated 1 ETH to Unisef. It's good that charitable organizations are accepting Cryptocurrencies.. as long as it helps those in need right? As long as the Currency being donated has a value it should be accepted. Donation is donation regardless what type of Currency it is.

 

[maventiger]

@BrolySSJ crypto donation is one of the best way to donate for any course and still maintain your anonymous status. But it has negative sides too when mistakes are being made when sending coins to wrong wallets.

 

[Bilal0087]

To a large extent there are many that have started to make use of crypto and to accept it as a currency, despite the governments not being full on board with it yet. In fact there are even non-profit and charity organizations that are accepting crypto donation as well. However, do you think cryptocurrency is suitable for these donations?

If you think about it, you will notice that many joined crypto in order for them to retain their anonymity in the market and to be able to transact as such. Therefore, will having this in donation centres and so forth increase the likelihood of fraud in these sectors as the people handling the crypto will not be able to be held accountable for missing donations? What are your thoughts on this? Is there a way to perhaps counter this in the future?

Cryptocurrency is preferable for donation and it's worth is increasing day by day, but only in developed countries where it is implemented for common public. unfortunately in under developing countries like Pakistan cryptocurrency is still not implemented for common use.

 

[Ehizzy1]

I think there would be some certain record and also tracking for the donation in case of any fraud and others ,and just of recent i think the government is doing its job and finding different means nd ways to be able to track some crypto currency incase of any fraudlent activities , so there would always be a way to resolve that i think

 

[Erik4150]

There is nothing with accepting cryptocurrency donations. Using cryptocurrency is a good choice especially if the giver want to remain anonymous. In my country some philanthropist use cryptocurrency for charity donations.

 

[Suba]

Lots of charity organizations that accept cryptocurrency as donations, the most important thing is we have to know whether the organization is trusted or not. Every charity organization certainly has a record of where the donation came from, in what form it is fiat money, cryptocurrency or goods, and they also have records. expenses, usually a donation report published at the end of the year. So you don't need to worry about your donation being misused.

 

[BTCBEE]

Lots of charity organizations that accept cryptocurrency as donations, the most important thing is we have to know whether the organization is trusted or not. Every charity organization certainly has a record of where the donation came from, in what form it is fiat money, cryptocurrency or goods, and they also have records. expenses, usually a donation report published at the end of the year. So you don't need to worry about your donation being misused.

hello there...how are you all friend? well as i know lots of charity organizations accept crypto currencies as donation but nowadays no one is thinking to donate crypto to anyone...all want to hold it but it will go down soon

 

[MarieArie]

The first decision is whether the organization wants to accept this class of asset as a charitable gift. Before deciding whether your not-for-profit organization should accept cryptocurrency for gifts, you must understand what it is. A cryptocurrency, or virtual currency, is a digital medium of exchange that can be used for purchasing, selling, and storing value, but it is not backed by a sovereign government.

 

[Taimoor Jutt]

Crypto currencies are all about getting money and having business so that Yes this is all about donation. We can donate by these in various ways, we can share it to others for the sake of donation so to the sum up a Big YES.

 

[Suba]

hello there...how are you all friend? well as i know lots of charity organizations accept crypto currencies as donation but nowadays no one is thinking to donate crypto to anyone...all want to hold it but it will go down soon

Hi sis, in my opinion it is the opposite, said the party from the charity organization that the number of receiving their donations increased after they received crypto as a donation because it would make it easier for donors to donate without going through a bank account, so that it remains anonymous, and I will always donate part of it (3%) cryptocurrency profit for humanity.

 

[chicnthin]

I think it's great that some of the organization and charities accepts crypto currency for donation. It's a good thing for those who want to remain anonymous when giving their donation. If ever it was decided to donate, it's important to make sure that the said charity is legitimate. The transactiom may be hard to track if it the organization is a fraud.

 

[Ridorz]

Cryptocorrency is easy to donate charity for who are in need of it. But what is bothering my mind is fraudulent, is those charity organizations are trustworthy, are they recording all the donation?.
Anyway, crypto currency is easy to donate by people who wish to donate.

 

[Josemendez]

If your are talking about them been able to escape from being traced , I will agree with you , but when it comes from not being traced for missing coins , I won't agree because there will be transaction log showing that some money has been moved from the donation ,and those responsible ,will answer for it

 

[Niftyyem]

Many top organizations that have global reputations are already getting donations in btc and ethereum for some time now. I read the WHO already made this an option and some other world charity organisations.

 

[BrolySSJ]

Cryptocorrency is easy to donate charity for who are in need of it. But what is bothering my mind is fraudulent, is those charity organizations are trustworthy, are they recording all the donation?.
Anyway, crypto currency is easy to donate by people who wish to donate.

I am sure that there are reliable charities that are out there, however the possibility for fraud and the fact that it is not able to be managed is what concerns me. In fact if I am not mistaken I think that UNICEF has also started to accept crypto donations, and they are quite large. So with such organizations starting to accept crypto there should be some fail safes that are implemented perhaps.

 

[Patrik]

Bitcoin and Ethereum, there could be other cryptocurrencies / cryptocoins, but it depends on the person that's asking about donations and depends on users if they are able to afford those coins at the first place

 

[BTCBEE]

Hi sis, in my opinion it is the opposite, said the party from the charity organization that the number of receiving their donations increased after they received crypto as a donation because it would make it easier for donors to donate without going through a bank account, so that it remains anonymous, and I will always donate part of it (3%) cryptocurrency profit for humanity.

hello brother how are you ? well i agree with you they have a easy way now to donate and they no need to go bank also and they can send it from their laptop while crypto-currencies are going to high and its really good for big investor

 

[Akinwale701]

To a large extent there are many that have started to make use of crypto and to accept it as a currency, despite the governments not being full on board with it yet. In fact there are even non-profit and charity organizations that are accepting crypto donation as well. However, do you think cryptocurrency is suitable for these donations?

If you think about it, you will notice that many joined crypto in order for them to retain their anonymity in the market and to be able to transact as such. Therefore, will having this in donation centres and so forth increase the likelihood of fraud in these sectors as the people handling the crypto will not be able to be held accountable for missing donations? What are your thoughts on this? Is there a way to perhaps counter this in the future?

As you've rightly said, people join Cryptocurrency to conceal their identity and when it comes to donation, I think Cryptocurrency is the best way. but many are into identity fraud using Cryptocurrency, so this makes it difficult to conclude whether Crypto is good for donation or not.
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To a large extent there are many that have started to make use of crypto and to accept it as a currency, despite the governments not being full on board with it yet. In fact there are even non-profit and charity organizations that are accepting crypto donation as well. However, do you think cryptocurrency is suitable for these donations?

If you think about it, you will notice that many joined crypto in order for them to retain their anonymity in the market and to be able to transact as such. Therefore, will having this in donation centres and so forth increase the likelihood of fraud in these sectors as the people handling the crypto will not be able to be held accountable for missing donations? What are your thoughts on this? Is there a way to perhaps counter this in the future?

As you've rightly said, people join Cryptocurrency to conceal their identity and when it comes to donation, I think Cryptocurrency is the best way. but many are into identity fraud using Cryptocurrency, so this makes it difficult to conclude whether Crypto is good for donation or not.