In the last year, a UK-based charity has collected more than $130,000 in cryptocurrency donations.
Using Crypto to Help a Good Cause
The organization, which is one of the few in the UK that accepts donations in digital assets like bitcoin (BTC), ether (ETH), and others, recently received a donation of more than $95,000, which is the highest single crypto donation ever given to a UK charity.
Charlotte Campbell, CHUF’s Head of Fundraising, commented on the large volume of crypto donations, saying that as a small charity, you have to be courageous when it comes to fundraising today more than ever. Therefore, we decided to collaborate with The Giving Block, which allows us to take bitcoin donations safely and quickly after conducting an extensive study.
“It’s been quite a journey since we first started the process to seeing donations of £10,000, £20,000, even £70,000 come through – as a fundraiser that will always be incredibly exciting. We are beyond grateful to the generous donors who have made it possible for CHUF to continue to bring smiles to the faces of Heart Heroes across the UK.”
The large bitcoin payments were made through The Giving Block, a prominent website dedicated to bridging the gap between crypto donations and humanitarian initiatives. As a result, CHUF is now one of just two charities in the UK that takes cryptocurrency donations.
The Role of Cryptocurrencies in Fundraising
Because of their fast transactions, traceability, and immutability, digital assets are ideal for contributions. Moreover, as seen by numerous recent real-world cases, the features of blockchain technology make digital currencies a perfect match for donations.
The recent enormous gift made by Ethereum co-founder Vitalik Buterin is one of the most talked-about examples.
Buterin contributed over $1 billion in SHIB tokens to the India Covid Relief Fund, founded by Polygon (MATIC) co-founder Sandeep Nailwal on May 13.