Crypto Emerging As Much Needed Tool For Charities During Coronavirus Pandemic

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  • Red Cross one of many charity groups which began accepting Bitcoin due to the Coronavirus

The Coronavirus pandemic is hitting peak levels worldwide, and charity organizations have a greater need than ever before to raise funding, which is why many charity organizations have begun to accept Bitcoin. Further, charity organizations which have decided to accept Bitcoin are seeing great success not only in reaching and exceeding their goals, but also since the fees are lower when using Bitcoin.

For example, the Italian Red Cross began accepting Bitcoin for the first time and quickly exceeded its goal of USD 10,000, and raised its goal to USD 26,000 and have already almost achieved it. Another charity organization called the Water Project, which installs and repairs water services across Africa, has also begun accepting Bitcoin, Ethereum, and Litecoin and has seen success.

Further, crypto businesses have raised millions of US dollars for Coronavirus charity, including Binance which has already raised USD 1 million and has a goal of USD 4 million, and Huobi which has pledged USD 1.4 million for fighting the pandemic.

Thus, cryptocurrency is proving to be quite useful for helping charity organizations to get the funds they need to fight the Covid-19 pandemic, and in this case, it could perhaps be said that crypto is saving lives.

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