Advertisement PDAX Banner

DIGITAL BAYANIHAN: Cryptocurrency Revolutionizing Donations

Photo for the Article - DIGITAL BAYANIHAN: Cryptocurrency Revolutionizing Donations

Subscribe to our newsletter!

[newsletter_form type=”minimal”]

Editing by Nathaniel Cajuday

  • During ‌Holy Week, aside from using the days to bond with their families and take a rest, people often take the time to reflect on themselves and the life they have lived; some use it to make a change by doing charitable work, such as donating. 
  • Crypto or digital donations in general are extremely convenient. Donors can give from anywhere, at any time, using their mobile devices, laptops, or desktop computers. They do not have to leave their homes or offices to contribute.
  • Some of the firms that accept crypto donations include PDAX, Binance Charity, The Giving Block, Give Crypto, and BitPay. 

Although it has been around for years, cryptocurrency really made a buzz during the pandemic, and since then it has definitely changed a lot of lives, and the financial world will never be the same again. Through the nature of a decentralized ecosystem that uses strong cryptography to secure transactions, financial records have never been more transparent and publicly accessible.

Not only does it change the financial landscape, but cryptocurrency is also revolutionizing how ‌people donate to charities and non-profit organizations. In recent years, the popularity of cryptocurrency donations has grown significantly, with many organizations now accepting digital currencies.

During ‌Holy Week, aside from using the days to bond with their families and take a rest, people often take the time to reflect on themselves and the life they have lived; some use it to make a change by doing charitable work, such as donating. In 2020, the Catholic Bishops’ Conference of the Philippines (CBCP) specifically stated that helping is “the best sacrifice the faithful can do,” especially during the pandemic, which is still ongoing despite some physical restrictions being lifted and the country slowly going back to normal. 

Why Crypto Donations Matter

Advertisement PDAX Banner

At the height of the pandemic, digital transactions surged. Although people are now free to move and transact physically, the ease of doing so will always be here to stay. Crypto or digital donations in general are extremely convenient. Donors can give from anywhere, at any time, using their mobile devices, laptops, or desktop computers—they do not have to leave their homes or offices to contribute.

Moreover, one major advantage of using crypto as a means of donation and transaction is the transparency and accountability it provides. Unlike conventional transaction methods, crypto transactions are visible and immutable, giving donors a sense of confidence that their contributions will be utilized for their intended purpose because blockchain technology guarantees an unalterable and secure record of transactions, and fosters transparency and accountability for both donors and organizations. 

Crypto transactions also have lower fees compared to ‌traditional ones, as the only required fee is the required data to process the transaction. This helps an entity increase donor engagement and loyalty because it demonstrates that they are forward-thinking and innovative, which can help build trust and strengthen relationships with donors.

In addition, crypto donations can also extend the reach of potential donors, particularly among younger generations who are more comfortable with digital currencies. By accepting cryptocurrencies, charitable organizations, and nonprofits can engage a new group of donors who might not have previously considered making donations.

With this, BitPinas has curated different firms, apps, websites, and organizations that allow crypto donations:

Crypto Donation Options

  • Philippine Digital Asset Exchange (PDAX)

In July 2022, Philippine-based cryptocurrency exchange PDAX launched PDAX Donate. It is a service offering where users can send crypto donations directly to the PDAX wallet of a non-government organization (NGO), charity, or foundation that they want to help. 

As of this writing, PDAX Donate is partnered with the Philippine Business for Social Progress (PBSP), Yellow Boat of Hope Foundation (Yellow Boat), and the Jesuit Communication Foundation (Jescom).

How to donate crypto through PDAX Donate:

  • Step 1: Go to the “PDAX Donate” section on its app and choose from the NGO partners listed. 
  • Step 2: Select the crypto that you wish to convert to fiat, then input your pledge amount.
  • Step 3: Provide your details and the purpose of your donation.
  • Step 4: Scan the QR code or copy the wallet address and send it from your desired exchange or crypto wallet to complete the transaction.

Access the site here: https://donate.pdax.ph/ 

  • Binance Charity

Binance Charity is under the cryptocurrency exchange Binance, a non-profit organization “dedicated to building a future where Web3 technology is used as a force for good.” It allows crypto donations to be transferred directly to the end beneficiary and accepts both cryptocurrency and fiat with a preference for crypto—currently accepting BNB, ETH, and BTC.

It currently funds initiatives supporting Humanity First-Ukraine emergency relief fund, environmental fund Protect Our Planet, Binance Lunch for Children, and Crypto Against COVID. 

How to donate crypto through Binance Charity:

  • Step 1: Go to the “Binance Charity Wallet” and choose “Donate Now.”
  • Step 2: Select the crypto that you wish to donate, then input your pledge amount.
  • Step 3: Provide your details and the purpose of your donation.
  • Step 4: Complete the transaction.

Access the site here: https://www.binance.charity/ 

  • The Giving Block

The Giving Block is one of the first entities to allow crypto donation solutions. It provides an ecosystem for nonprofits and charities to raise funds using Bitcoin and other cryptocurrencies by serving as a bridge to allow crypto donors to send money quickly; recipients are also able to receive funds instantly.

It currently has 40 partners that provide marketing, fundraising strategy, and other consultative support services to nonprofit organizations. The Giving Block also has a partnership with blockchain, cryptocurrency, and other crypto industry leaders to support its cause, such as MetaMask, CoinGecko, ByBit, CoinTelegraph and more. 

How to donate crypto through the Giving Block:

  • Step 1: Go to the “Donate” tab section on its website and choose from the NGO partners listed. 
  • Step 2: Select the crypto that you wish to convert to fiat, then input your pledge amount.
  • Step 3: Provide your details and the purpose of your donation.
  • Step 4: Scan the QR code or copy the wallet address and send it from your desired exchange or crypto wallet to complete the transaction.

Access the site here: https://thegivingblock.com/ 

  • GiveCrypto

By using crypto and blockchain technologies, GiveCrypto is a nonprofit organization that claims to distribute cryptocurrency to people living below the poverty line. The crypto donations in this entity are powered by the crypto exchange Coinbase; other wallets are also accepted. It currently accepts donations in BTC, BCH, ETH, LTC, XRP, and ZEC.

How to donate crypto through GiveCrypto:

  • Step 1: Go to the “Give Now” tab section on its website 
  • Step 2:  Provide your details. Name and email address. 
  • Step 3: Pick which wallet to pay, either through Coinbase or pick a cryptocurrency to pay with another wallet.
  • Step 4: Confirm donation.

Access the site here: https://givecrypto.org/ 

  • BitPay

BitPay is a bitcoin payment service provider that allows donors to donate cryptocurrencies such as BTC, LTC, ETH, BCH, DOGE, SHIB, XRP, MATIC, APE, DAI, BUSD, USDC, WBTC, USDP, GUSD, and EUROC.

How to donate crypto through GiveCrypto:

  • Step 1:  Select “BitPay” as their payment method. 
  • Step 2: Choose your preferred cryptocurrency. 
  • Step 3: An invoice is generated which the donor then pays with their crypto wallet. 
  • Step 4: Once the cryptocurrency is received, BitPay converts the donation to fiat and is deposited into the nonprofit’s bank account in their preferred fiat currency the following business day.

Access the site here: https://bitpay.com/nonprofits/ 

Closing Thoughts 

Consequently, cryptocurrency donations to charities are changing the landscape of living, as it implies that organizations are now embracing digital currencies as a new way to receive donations. As more people become comfortable with cryptocurrencies, it is likely that we will see an increase in the number of organizations accepting digital currencies as a form of payment.

Like what happened when Typhoon Odette ‌hit the Visayas and Mindanao before 2021 and left many families, including guild scholars, with damaged homes. 

This unfortunate incident became a way for crypto communities to lend a helping hand, as YGG Pilipinas reached about $1.4 million (about Php 71.1 billion) in crypto donations and has helped less than 5,000 households in the region.

In conclusion, crypto donations are an exciting development in the world of philanthropy, offering greater transparency, speed, and convenience for donors. 

If you are to donate to an entity using crypto, in what king of charity are you willing to help? 

This article is published on BitPinas: DIGITAL BAYANIHAN: Cryptocurrency Revolutionizing Donations

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.