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Cryptocurrency has been on the rise for over a decade and is now valued at over $2 trillion, showing no signs of slowing down. While many have embraced the technology, some organizations, such as charities, have been hesitant to get involved.
However, with the emergence of crypto philanthropy, many charities are beginning to see the potential benefits of accepting cryptocurrency donations.
Crypto philanthropy is the practice of using cryptocurrencies to support charitable causes. One of the early adopters in this field is UNICEF Global, which set up a CryptoFund in 2019. Through this project, UNICEF Global is able to receive, hold and disburse cryptocurrencies by investing in various projects that support children and youth affected by COVID-19.
Another example is Binance Charity, which set up a crypto fundraising project called “Crypto Against COVID” that has raised approximately $10 million to help combat the ongoing effects of COVID-19.
The Giving Block, a cryptocurrency fundraising platform, reported $70 million of crypto donations in 2021 via their website – a significant increase of 1,558% compared to 2020.
Big Eyes Coin: A Transparent and Secure Cryptocurrency for Charitable Giving
Big Eyes Coin is a new cryptocurrency that is making a splash in the crypto space by aiming to make charitable giving more accessible and transparent. By using blockchain technology, Big Eyes Coin allows for easy and secure donations to be made to various charities and non-profit organizations. The coin’s transparency feature, enabled by the blockchain technology, is particularly appealing to potential donors who are hesitant to give to charities due to concerns about where their money is going. The cryptocurrency has already exceeded $18 million in presale, and has made donations to various charities such as Pets for Vets, Fundlife International and Luna Children, supporting causes such as disaster relief, conservation, and children’s welfare. Big Eyes Coin also empowers donors by providing them with real-time updates on how their donations are being used and the impact they are making. This level of transparency and accountability is a significant benefit of using Big Eyes Coin.
Another popular crypto token in the philanthropy space is Shiba Inu, also known as SHIB. Shiba Inu is a decentralized cryptocurrency that is built on the Ethereum blockchain. It was created in 2020 and quickly gained popularity due to its association with the “Dogecoin” meme.
The total supply of SHIB is limited to 1 quadrillion tokens, making it one of the largest token supplies in the crypto market. While primarily used for trading and speculation, Shiba Inu has also been used for charitable donations.
In recent times, Ethereum co-founder Vitalik Buterin burned 90% of his SHIB holdings and donated the remaining 10% to a charity with similar values to cryptorelief. However, it’s important to note that the value of SHIB can be highly volatile, and it’s crucial to do proper research and due diligence before investing in any cryptocurrency.
While crypto philanthropy is a step in the right direction, it is important to also address the environmental impact of cryptocurrency.
The production and mining of cryptocurrencies requires a significant amount of energy, which can have a negative impact on the environment. However, there are ways to mitigate this impact.
For example, many crypto mining companies are In conclusion, crypto philanthropy is a rapidly growing field that is making it possible for charities to accept and benefit from cryptocurrency donations. With the help of platforms like UNICEF Global, Binance Charity and The Giving Block, along with new cryptocurrencies like Big Eyes Coin and Shiba Inu, it’s now easier than ever for donors to support their favorite causes using digital currencies.
However, it’s important to keep in mind the potential environmental impact of cryptocurrency mining, and to look for ways to mitigate that impact through the use of renewable energy and energy-efficient mining methods.
Addressing the Environmental Impact of Cryptocurrency in Crypto Philanthropy
Overall, crypto philanthropy is a promising development that has the potential to bring more transparency, accountability and accessibility to charitable giving, now using renewable energy sources to power their operations.
Additionally, some cryptocurrencies like Bitcoin have implemented changes to their mining process to make it more energy efficient.
Crypto philanthropy is a rapidly growing field that is making it possible for charities to accept and benefit from cryptocurrency donations. With the help of platforms like UNICEF Global, Binance Charity and The Giving Block, along with new cryptocurrencies like Big Eyes Coin and Shiba Inu, it’s now easier than ever for donors to support their favorite causes using digital currencies.
However, it’s important to keep in mind the potential environmental impact of cryptocurrency mining, and to look for ways to mitigate that impact through the use of renewable energy and energy-efficient mining methods.
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*This article was paid for. Cryptonomist did not write the article or test the platform.
