Cryptocurrencies can really make a difference by helping people
Between Bitcoin (BTC) breaking the $ 50,000 mark and the prosperity of the altcoin market, Cryptocurrencies have by no means been extra engaging to speculators. However, it’s nugatory to make revenue from trading until the cash is spent. Fortunately, charities are realizing the potential of crypto donations because the world accepts crypto. For blockchain entrepreneur Wendy O, she knew how one could flip to crypto Twitter for assist when a native gymnasium was in jeopardy. Using her social media, YouTube channel, and Tik-Tok, the influencer made a name to avoid wasting an enterprise she loves.
Self Care Lab is a boxing gymnasium in Pomona, CA, caters to deprived and susceptible teenagers. Owner Nita Watson not too long ago came upon that the constructing’s constructing has modified arms, and they solely have 30 days to seek out a new dwelling for a group she has constructed up through the years.
Thankfully, Wendy O has been a long-time gymnasium buyer and a robust advocate of utilizing the bodily train to empower youth. Wendy has harnessed a community of blockchain fans, merchants, entrepreneurs, and self-proclaimed “degens” to lift funds not solely to transfer but additionally to improve various growing older units. Though the gymnasium’s Go Fund Me web page has not reached its last vacation spot, there have been sufficient fiat and crypto donations to assist it for a new location. Wendy O instructed Cointelegraph:
“This gymnasium has been such an necessary part of my life, and I can’t think about the place I’d be without it. It’s not nearly boxing. It is about self-care and remedy. And many of those kids want a constructive place like this to remain centered and away from different, much less productive actions. As somebody who makes a residing doing crypto, I know I can rely on my mates to become involved and make a difference. “
However, the innovation doesn’t stop at only allowing cryptocurrency donations. To attract the attention of the emerging blockchain art community, Wendy O has successfully launched many Non-Portable Tokens (NFTs) on the Theta Blockchain, thousands of tokens of which have been sold to date. Two of these NFTs can be redeemed for counseling sessions with Wendy O, which benefit the donations. Bridging the gap between speculators and charities is a relatively new phenomenon in the decentralized asset ecosystem. However, it is likely to become more common as the names become more prominent in the space. By avoiding payment providers, intermediaries, and third-party providers, each crypto donation can get more.
Related: Prioritizing people over profits through NFT
Other projects that have long been accepting Bitcoin donations are the Kessler Foundation and the Dementia Society of America. PAWS Animal Rescue in Chicago recently started accepting donations in Dogecoin (DOGE). While there is no NFT associated with the PAWS case, the appeal of helping dogs with such a popular dog-themed token seems undeniable.
More recently, the blockchain sector has been supporting charities focused on supporting humanitarian efforts in Afghanistan. As thousands of refugees around the world search for a new home, nonprofits are taking action. Consulting firm Visualize Value recently partnered with CARE to sell NFTs that meet a family’s urgent needs.
Related: Digitize charity: We can make charity better.
These donations also have the same effect; the convenience of cryptocurrencies may eventually drive more users to deposit. In general, the traditional way to donate online involves:
- Filling out a long-form.
- Manually entering credit card information.
- Other steps to complete a donation.
In contrast, sending BTC or Ether (ETH) is a course for crypto investors who like to carry out blockchain transactions. Instead of bidding on the Penguin NFTs, in this case, they are helping a good cause.
A quick look at some of the Crypto Twitter posts seems a bit strange. The timeline is filled with random shills, various scams, traders celebrating their wins, and stories of people who have lost countless amounts of money due to wrong trading practices. However, those who can navigate the space, which may seem like a harsh crowd to an outsider, can find charitable diamonds in the ground.