Market Overview

Bitcoin Gaining Support Among Do-Gooders

Share:
Bitcoin Gaining Support Among Do-Gooders

Despite recent press portraying bitcoin as a seedy currency used by criminals in underground black markets, the cryptocurrency has seen an influx of interest among non-profit charities who say the currency is a great way to improve how people from around the world give back.

Enabling Bitcoin Donations

The relief effort in Nepal has seen an influx of bitcoin donations, as several charities working to restore the community have enabled digital currency donations.

Not only are non-profits like Save the Children and See Change Foundation able to reach a new audience of donors by using bitcoin, but the cryptocurrency's fast delivery system and lack of transaction fees means 100 percent of the donated cash is distributed quickly and spent on the Nepalese victims it was intended for.

Related Link: ChangeTip Allows Fans To Tip Their Favorite Musicians In Bitcoin

Connecting Non-Profits

Bitcoin-based firms like bitCharities.com and The BitGive Foundation are working to give charitable organizations more access to the bitcoin community. As bitcoin allows real-time transactions from anywhere in the world without an intermediary, it gives the charities a larger pool of donors to draw from.

Enthusiasts say the bitcoin community's push to assist in facilitating donations could eventually make bitcoin the preferred donation method for philanthropists.

More Accessible

While bitcoin's unique platform benefits non-profits, its use by charities is also a positive for the cryptocurrency itself.

Playing a role at big name charities could help improve the public's perception of bitcoin and offset some of the damage done by high profile scandals like the Silk Road trials and the collapse of Mt. Gox.

Image Credit: Public Domain

Posted-In: bitCharities.com Bitcoin Save The ChildrenCryptocurrency Forex Top Stories Markets Tech Best of Benzinga

 

Related Articles

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

The Option Samurai Talks Strategy, Favorite Stocks

GBP/USD Little Lower