Recently an internationally recognized organization (Unicef) announced that they’ve started accepting cryptocurrencies for donations. This news came as a relief to crypto believers because it further proves cryptocurrency is real and has a future. The UN children’s agency, Unicef, has announced it is accepting and disbursing donations through cryptocurrencies ether and bitcoin.
The new Cryptocurrency Fund by UN is the latest in a series of efforts made by international organizations to experiment with “blockchain technology and Cryptocurrencies. It is believed that blockchain and cryptocurrency have the potential of transforming charitable giving and increasing financial transparency.
Donations made through cryptocurrency are obviously faster than the normal conventional ways of making cross border payments globally. In a normal or average situation, it takes hours or days to send money using the normal conventional method (fiat), but with cryptocurrency such as BITCOIN, EOS, DASH, BCH, it’s now hugely cheaper and faster.
|Coins||Maximum Delivery Time|
|BITCOIN||< 10 MINUTES|
|DASH||< 30 SECONDS|
|ETHEREUM||< 15 SECONDS|
|EOS||< 0.5 SECONDS|
Africans are turning to cryptocurrency for charity donations:
It’s no doubt that Nigeria has been on the radar for the region with the highest bitcoin and blockchain interest worldwide. It didn’t come as a surprise to find out that a charity organization known as humanelove.org was the first Nigerian NGO to accept cryptocurrency for donations. According to data pulled from their blockchain account, humanelove.org has received over $5000 in donations through cryptocurrency between November 2018 and now.
In a related scene, Fidelity’s charity arm, Fidelity Charitable, said that it has received more than $100 million in cryptocurrency donations since 2015. It is believed that cryptocurrency donations will rise along with an increase in the value of cryptocurrencies in the market and as popular institutions and NGO start accepting cryptocurrencies.
Accepting cryptocurrencies as donations is super easy because it takes a few minutes to set up an account and cryptocurrencies transfer delivery time is a lot faster with far lesser fees than the current conventional system.