TL;DR Breakdown
- Signal, an encrypted cross-platform messaging service, has rolled out support for crypto donations.
- The donations are geared towards the project development.
Popular privacy-focused messaging application, Signal now supports donations in Bitcoin (BTC) and 11 other digital currencies. Funds donated to the Signal Technology Foundation are used to further the application’s development, bandwidth, and servers since they operate as a nonprofit organization. They noted in a tweet on Monday.
“As a nonprofit organization, we depend on your support. If you’ve been patiently waiting for Signal to accept cryptocurrency donations, you no longer need to hodl back your generosity.”
Signal now supports donations in crypto
Following the information provided on the webpage, the messaging app now accepts donations in Bitcoin, Ethereum, Litecoin, Gemini Dollar, Bitcoin Cash, Chainlink, Zcash, Basic Attention Token, Amp, 0x, Dai, and Storj. The foundation partnered with The Giving Block to accept donations in digital currencies. Being a privacy-focused messenger, Signal also noted that users could choose to donate anonymously, as The Giving Block also supports such options.
More like WhatsApp, the Signal application was launched as a messaging service. However, it was focused on promoting users’ privacy and security, as it features end-to-end message encryption. The application had over 105 million downloads – over 50 million Android downloads – as of January 2021. The monthly active users on the platform are estimated to be around 40 million.
The encrypted messenger came to the limelight last year, following the Black Lives Matter movement. Many protesters were reportedly using the platform to keep their communications and corresponding location hidden from the police officers. Also, more people got to know about the application after the billionaire founder of SpaceX, Elon Musk, recommended using the application.
