Are cryptocurrencies suitable for donations?

[singlej007]

Yes, Cryptocurrency are quite suitable for donation and is good because most countries now use crypto, so if it is a word wide donation, a lot of person can participate in that donation because crypto is easy to buy with their local card on most site, then before they donate using crypto.

 

[Aniwhyte]

Cryptocurrency is absolutely good for donations, there are a lot of top websites that accepts cryptocurrency as donations. Only those whom are wise would save up some cryptocurrency for the future.

 

[BrolySSJ]

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.

I never thought about it in a sense of maintaining your anonymity when making a donation through cryptocurrency. There are many people that do like to remain anonymous when they make a donation and in this case I guess cryptocurrency will provide them with the best possible way in which to do that. However like you said there's a lot of fraud that goes on as well, so if you use cryptocurrency to remain Anonymous in your donation, at the same time there's also no trace that you made a donation, and someone can then take that money and not give it to the necessary charity organisation that you are hoping it goes to.

 

[Caali]

Never give out you the private key or the password, unless you want to make a “reverse donation”. You probably want to give a good reason for soliciting the donation. Most people including myself won’t just give you anyone any money for no reason.

 

[Damscooguns73]

Concerning if cryptocurrency is good for donation. Well, I don't see anything that is bad in donating using cryptocurrency. So far the organization or company the individual is planning to donate to has a cryptocurrency wallet that accept transactions, then you can, it is fast, easier, and reliable

 

[Asad Ali]

So far, cryptocurrency is not legally available in many countries, not even in our country Pakistan.And if donations are made in crypto, I don't think it will be a good step because the fee for cryptocurrency is very high and if someone wants to make a donation in bitcoin, the fee is also very high. My opinion is different from yours.

 

[BrolySSJ]

So far, cryptocurrency is not legally available in many countries, not even in our country Pakistan.And if donations are made in crypto, I don't think it will be a good step because the fee for cryptocurrency is very high and if someone wants to make a donation in bitcoin, the fee is also very high. My opinion is different from yours.

The transaction fees are exceptionally high when you are using cryptocurrencies such as Bitcoin, however if you use another cryptocurrency for example ripple or even LTC you will find that the transaction fees are reduced significantly. And furthermore whilst the transaction fees are quite high when it comes to Bitcoin in general it is relative to what value transaction you are doing. For example if someone is doing a $500 transaction then having a transaction fee of about 6 to $7 won't seem that much to them.

 

[Iamt_tommy]

To my own knowledge cryptocurrency is the best form for donations because it keeps the sender anonymous and its also positively valuable to the receiver because moneys in crypto has more worth to normal currency..... In short I would advice cryptocurrency policy for donations and if possible all other means of exchange

 

[Nurudeen]

When it comes to payment or any donations crypto currency is one it the best means of payment to use. It's glad to see that more and more PLATFORMs are now using and embracing the Digital currency for their payment method this will be a good development in the online space for crypto currency traders and investors

 

[Abelcairo43]

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.

 

[tyrim88]

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.

Since the cryptocurency has gained a lot of acceptance around the globe,it is quite ok for it to be used for donations,because it has been increasingly used as an alternative medium of exchange.So there is nothing wrong with it.

 

[ahmedo24]

I have not heard of any organisation or country rejecting cryptocurrencies donations which shows that they are comfortable to an extent with cryptocurrency.

 

[Setho]

The fact that crypto currencies are available in many countries and you can track your donation makes it one of the suitable ways of donating for a course.

 

[Alexandoy]

This is a good topic to discuss. However, for a donor to donate crypto to someone or to an organization the donor should first inquire if the receiver has a crypto wallet. If someone would give me crypto for a donation my only digital wallet is Paypal so I may decline the donation in crypto coin.

 

[Lens]

Missing donations! I don't seem to get the narrative . What i do know is that transaction done in cryptocurrency are untraceable. You can't track it. So, there is high level of secrecy involved. That's the major aim of the cryptocurrency transaction

 

[BrolySSJ]

I have not heard of any organisation or country rejecting cryptocurrencies donations which shows that they are comfortable to an extent with cryptocurrency.

This is true. Also it allows for the donor to remain anonymous because they are not required to divulge any personal information in order to make the trnsaction or the donation.

 

[FreshKaz11]

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?

To me. Is the best and suitable donation currency so far, because some people don't like making noise when it comes to donation and they want to remain anonymous as well.

 

[Hena101]

Of course crypto currency are suitable for any sort of donations as far as I'm concern there is no problem attached to it as long as it's not donated to sponsored any kind of crime. But if you want to donate crypto currency you must make sure that those you're donating to know what crypto currency is all about.

 

[eLdavis]

There is actually no law that says donation has to be only the country's flat currency. Donation could come in any from. I have seen people donate raw materials or their properties and cash as well. I have seen a few cases whereby donations have been made with crypto. As long as it is accepted. And i believe they would make provisions to receive the crypto if they have not been receiving before

 

[Nomad]

If you want your donation to be anonymous, I think donating in crypto currency can be the best option. A lot of people use crypto to avoid tax, therefore, it might be easier for the receiver to evade tax.