Cryptocurrencies are a technology with global reach: the use of digital assets ensures that users can instantly send money to anyone in the world with little or no fees and without revealing their identity. These features make cryptocurrencies an easy candidate for sending crypto donations.
The amount of donations in cryptocurrency in 2022 increased by almost 12 times
The amount of donations in cryptocurrency increased over the past year to $330 million, back in 2021, the figure was $28 million, thus the amount increased by almost 12 times.
Most of the donations were made in bitcoins (88%). Another 11% was Ether, the remaining 1% was Litecoin.Despite this growth, cryptocurrencies make up a minority of the funds raised by overflow charity. In total, for 2021, the fund distributed $10.3 billion in grants. Of this money, 55% was income from stocks and bonds.
Cryptocurrency investors have already shown themselves as active donors. In 2021, 45% of digital asset investors donated at least $1,000 to philanthropic causes. Of the total number of such investors, 33% sent cryptocurrency to charity.
Cryptocurrency assets are owned by 35% of the total number of millennial investors. In total, 90% of this generation say that giving is an important part of their lives, and 75% call themselves philanthropists.
The charity of crypto users
Well-known charities, such as the Overflow, have long accepted cryptocurrencies as a powerful method of donation; Overflow makes generosity frictionless by helping nonprofits, churches, and corporations easily accept stock and crypto donations on our secure platform.
Innovators prove it is possible to help online
According to research, the crypto donations wallets had received over $ 100 million in cryptocurrencies by mid-March 2022. These funds were used to donate crypto to nonprofits, churches, and corporations, easily accept stock and crypto donations, medicines and to help every individual in every step of the way.
Industry leaders, prominent blockchain companies, non-profit organizations, anonymous traders, and individuals have contributed to helping crypto donation organizations to help peoples: Binance, Uniswap, Dr. Gavin Wood, Solana, Subsocial, Brains, and others. And the list could go on.
Continue on the path of mass adoption
The possibilities offered by the success of cryptocurrencies in helping nonprofits, churches, and corporations are fantastic; we are bound to see more users than ever enter the cryptocurrency industry. Donations represent an important part of the crypto adoption process, even though the simple act of making a transaction; sometimes a user and a wallet, or a web page, are all it takes to receive and provide the support people need.
It’s entirely possible that the crypto donation process will cause companies to rethink their stance on cryptocurrencies – we may very well see reputable charities and companies adopting cryptocurrency donations in the near future. In fact, there are few downsides to doing this.
It is impossible to predict with certainty what will cause the mass adoption of cryptocurrencies, but it seems that one of the possible factors will be donations.
Donate crypto today and support global charity projects with crypto. All cryptocurrency donations go to secure platform.