TL;DR Breakdown
• Engiven is the cryptocurrency platform behind these crypto donations.
• The list of cryptocurrencies that can be donated includes over five different tokens.
Recently Cryptocurrency trading platform founder of Engiven stated that some of the token holders of tokens such as BTC, DOGE, ETH, LTC, and TRX are eager to support charities. However, this trend in donations with cryptos only gained priority this year as in previous years, the cryptocurrency fever was still relatively mild.
At the beginning of the year, the support company had only 40 users, but eventually, its clients increased. James Lawrence, who founded and manages the crypto platform, figured out how to attract customers to their scheme of work.
Cryptocurrency fever reaches NGOs
In 2021, the fever for the cryptocurrency market has increased dramatically, going from having few holders to millions of people in the world who trade the most popular tokens, including Bitcoin. According to studies, cryptocurrency enthusiasts are between 18 and 49, although mostly millennials.
At the same rate that crypto gains priority, several payment servers have expanded their operations towards cryptos. Now donations between NGOs can be made through cryptocurrencies, using different tokens. These platforms that receive the donations change the decentralized currency to fiat in seconds.
Engiven, who stands out as one of the best crypto platforms for such, met with supporting 700 charities in the United States. The platform has Compassion International, Salvation Army, and Ronald McDonald House Charities on the list of donors endorsed by the crypto.
Churches receive donations with cryptocurrencies
The latest trend that has tackled the cryptocurrency market is based on ecclesiastical donations to various evangelical and Catholic churches. Engiven has also been tasked with creating a bridge between potential donors and churches needing the money.
These donations within churches have been normalized since last fall and may still be in place after the start of the New Year. Crypto donations have become so popular that many charities have even created live seminars explaining them and how to go about them.
Cryptocurrency donations range from five to twenty dollars depending on the client and the NGO. According to the Engiven manager, most of these donations are anonymous because of the customer’s wishes.
The best thing about donations with cryptocurrencies is that if the NGO keeps the tokens, it could have royalties due to the volatility of the crypto. However, some charities do not receive these crypto donations because they operate with a regulated currency. But this closed thinking will fade in North America as many more people use cryptocurrencies.
One of the most iconic donations is Liberty Live, an evangelical church in Hampton, Virginia, which received more than $20,000 in cryptocurrency in 2021.
