Skip to main content

Charitable Community – Crypto donations have increased 16x in 2021

 


The volume of the average crypto donation has also increased significantly compared to the previous year.


2021 was not only the year that cryptocurrencies became an increasingly interesting financial instrument for institutional investors, but also the year that they were increasingly used as a vehicle for charitable purposes.


As per data from donation platform The Giving , the volume of crypto donations has increased from $4.2 million in 2020 to a whopping $69.6 million in 2021. This has increased cryptocurrency donations on the platform by a massive 1,558%, or almost 16x. At the same time, the average value of donations increased by 236%, which corresponds to an increase from US$ 3,109 (2020) to US$ 10,445 (2021).


The data also shows that the average crypto donation is 82 times larger than cash donations. As mentioned, the average donation in crypto is $10,445, while the average donation in cash is just $128.


The monthly distribution of crypto donations is also quite interesting, as they were by some distance the highest in the fourth quarter of 2021. The volume of donations also increased steadily over the months. In January "only" $300,000 was raised, while in December more than $20,000,000 was donated to charity. With that, 42% of all crypto donation funds in 2021 came in the last two months of the year.


The platform's market researchers suspect that the record run of the crypto market in the third quarter of last year and the increased acceptance of crypto payments by charitable organizations and projects are responsible for this trend. More than 1,000 charities are now accepting crypto donations.



With regard to the annual quarters, there is also a steady increase, which proves this thesis. While only US$1.69 million was donated in Q1 2021, this volume grew to US$43.1 million in the fourth quarter. More than 70 cryptocurrencies were used, among which Ether ( ETH ) made it to the place in the sun. This is followed by Bitcoin ( BTC ) and the stablecoin USDC. The first three together are responsible for almost 85% of all crypto donations.


Data on crypto donations provides evidence that digital currencies are becoming the accepted means of payment for activists, politicians and charities. Bitcoin was also used as a financial policy tool during the protests in Hong Kong last year . Similarly in Myanmar, where the stablecoin Tether (USDT) was used as the unofficial currency of opponents of the regime.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
Upland - Collect Digital Properties & Test Your Skills
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin
Post a Comment
Read more

MSP Recovery and Tokenology aim to optimize healthcare with the help of Polygon

  MSP Recovery LLC, a Miami, US-based healthcare provider with an estimated enterprise value of $32.6 billion, is partnering with Web3 company Tokenology to jointly launch a new blockchain platform called Lifechain. Lifechain wants to leverage the verifiable and transparent nature of blockchain technology to aggregate medical care claims, medical expense reports and patient data and streamline their processing. For this purpose, MSP Recovery launched its own LifeWallet in January, which already has 1 million users. In addition to the wallet and blockchain platform, an associated crypto token called LifeCoin is also used. The press release explains that the primary purpose of the system is to enable secondary healthcare providers to more effectively bill health insurance companies for their costs. “The number of medical claims tokenized going forward will surpass $50 million per day by 2024. For this we need scalability, security and sustainability, which we have only found with Polygon
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne
Post a Comment
Read more