As of 2021, it is estimated that global crypto owners are close to 300 million worldwide. The number almost tripled from 106 million in January to 295 million in December, reflecting an exponential growth of 178% in crypto adoption. With more and more people holding their wealth in cryptocurrency, the demand for crypto donations have also increased.
Related: Bit by Bit Journey of Bitcoin
In response to such demands, charities worldwide, including GlobalSadaqah, an award-winning global charity crowdfunding platform, have begun accepting donations of Bitcoin, Ethereum, and other altcoins on our platform. Here’s how it works.
How to donate your crypto via GlobalSadaqah
1.You need to own crypto before you can donate it.
That’s a given. Whether it’s Bitcoin, Ethereum, or USDC, we accept the top seven coins on Coinbase.
2. Pick a cause that resonates with you the most.
Be it to help refugee children secure a brighter future, to build solar powered water pump in Yemen, to treat vulnerable Muslims from around the world Ramadan meals, or to pay zakat to the poorest families in Nigeria, there are an array of campaigns for you to choose from.
View a list of live campaigns.
3. Click the ‘Donate’ button on the campaign of your choice.
You will be directed to the campaign page where you will see donate via ‘Cryptocurrency’ button – click it.
4. Once you click the donate via the ‘Cryptocurrency’ button, you will land on the Coinbase checkout page. Enter your email address to proceed. We will need your email to send you updates on the campaigns.
5. We use a self-managed wallet on Coinbase Commerce to process crypto payments. You can choose to pay using your Coinbase account, or other wallets.
6. Follow the instructions to make the payment by scanning the QR code with your wallet.
7. Once you’ve made the transfer, you will see a confirmation of payment on the screen. You will also receive an email confirming your transfer.
Related: Under the Lens: Gold vs. Bitcoin
Benefits of crypto donations
- Tax deduction: Your cryptocurrency donation can be tax-deductible if you donate to select established charities on GlobalSadaqah.
- Pseudo-anonymity: If privacy is what you are after, crypto donations could address your concern. You can make an almost anonymous donation using pseudo-anonymous crypto such as Bitcoin.
- Fast: It doesn’t take long for crypto donations to be processed. It only takes a few seconds for your transaction to be confirmed, and a few days for your funds to reach us.
Share a small fraction of your wealth with those in need. Donate your crypto to social finance campaigns closest to your heart via GlobalSadaqah today!
“The best of people are those who are most beneficial to others.” [al-Mu’jam al-Awsaṭ]
Related: 7 Benefits of Giving Sadaqah