While there are more and more merchants and ecommerce sites that accept payment in Bitcoin and cryptocurrency, this new payment method can also be used to donate to charities and humanitarian organizations.
While some NGOs such as UNICEF or the Red Cross have already launched calls for donations of BTC and other cryptocurrencies, a very first fund to fight cancer financed by donations in Bitcoin and crypto-currencies has just been launched in the United States.
Announced on its site, the American Cancer Society is launching the Cancer Crypto Fund, a fund that accepts donations in:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ether (ETH)
- Litecoin (LTC)
- Zcash (ZEC)
- Gemini Dollar (GUSD)
- Basic Attention Token (BAT)
- Chainlink (Link)
The Cancer Crypto fund seeks to raise at least $1,000,000 by early 2021, donations that will go directly to funding cancer research.
The American Cancer Society says the Coronavirus/Covid-19 crisis has made funding difficult, indicating that its ability to fund cancer research has declined by 50% in 2020.
With cryptocurrencies, the cancer association hopes to find a source of growth and new donors within the crypto community.
With a rising Bitcoin price, cryptocurrencies have come back into the spotlight, and more and more individuals and entrepreneurs now own them.
In an effort to attract large donors, the association says the first crypto donor to donate $250,000 or more will have the option of naming the fund, in their name or that of a loved one.
Donations of $10,000 or more will appear on the Cancer Crypto Fund Wall of Honor.
If ecommerce can help the adoption of cryptocurrency, crypto donations could also play an important role in this adoption by getting the general public to give through cryptocurrency.
A call that also aims to adapt to fans and users of cryptocurrency who are open to donate but who do not want to convert their cryptos into dollars or euros.
Over time, this trend is expected to intensify with more and more associations accepting donations in BTC and cryptocurrency.
