The better part of the cryptocurrency community is aware of the advantages Bitcoin has when compared to traditional payment systems. Its decentralized nature allows it to skip middleman fees that are often too expensive in centralized systems. These are replaced by network fees that are given to miners as a reward for their work. Furthermore, transactions are uncensorable, meaning that no form of authority can dictate which transactions should and should not happen.
Furthermore, transactions are uncensorable, meaning that no form of authority can dictate which transactions should and should not happen, allowing users to retain full control of their finances.
The pseudonymous nature of Bitcoin also allows it to be a flexible tool that is useful both for anonymous or transparent payments, meaning that anyone can retain their privacy (if they know what they're doing), but they can also use the blockchain as an immutable proof of payment, ensuring maximum transparency.
These characteristics have made Bitcoin a superior tool to be used in various areas. One of the most relevant examples would be charity. Bitcoin allows donators to give back in an anonymous way, while still allowing them to keep track of their donation and what it's used for. The global nature of Bitcoin has made donations much more efficient by skipping middleman and conversion fees and allowing funds to be transferred almost immediately.
So, why are we telling you all this? It's no secret that the charity "business" has a shady side where many CEOs from large charity organizations pocket considerable profits and only a small portion of the donations ever reached those in need. Bitcoin, however, can put an end to all this. One can donate in an efficient and transparent manner, allowing the world to follow the donations from its source to the recipient.
That is why today we want to teach you how to donate to charity using Bitcoin. If you want, you can also donate with other cryptocurrencies like Ether or Dash which is exactly what the Unsung app allows you to do. Unsung is an app that allows merchants and restaurants to signal that they have food that would otherwise go to waste. A volunteer can then pick up the food and deliver it to the hungry. People who need food can also broadcast this to the community alerting members of a location to where the food can be sent.
Let's learn how to donate with Bitcoin!
How to Donate with Bitcoin
The first thing you'll need is, of course, Bitcoin. Unless you got lucky this Christmas or that you're a miner, the only way to acquire Bitcoin would be to purchase it from an exchange or person. There are many exchanges available for most any national currency available. You can also opt for a decentralized exchange like Bitsquare, which will allow you to retain your privacy and control of your funds.
Step 1: Buy or mine Bitcoin
Step 2: Now, you can either store your BTC on an exchange, which we strongly advise against, or you can move them to a Bitcoin wallet. This will allow you to stay in control of your private keys.
Step 3: You now have Bitcoin in a wallet or exchange. Time to donate to charity! So head over to Bitcoin for Charity and check out their list of Bitcoin-based charities here.
You can donate directly to the wallet shown on the Bitcoin for Charity website or you can go to the website to get more info on what you're donating to.
When donating, it is best to choose a cause for which you stand for and to research the organization you're donating to thoroughly. After you've done your due diligence, it's time to donate. We've chosen to donate to The Water Project, one that focuses on providing sustainable water projects to communities in sub-Saharan Africa who suffer needlessly from a lack of access to clean water and proper sanitation. The project allows you to get involved on many levels and to track the progress of your donation.
Step 4: Now that you've chosen your preferred organization, head over to its website and look for a donate button and click it.
While the next steps may vary a bit, it will be the same overall.
Step 5: Usually, these pages will provide a "donate with Bitcoin" button for easy use. In this case, we have the "Other Ways to Give" button, which will lead to a "Donate with Bitcoin" button
Step 6: Then, all you have to do is send the desired amount of Bitcoin to the wallet address shown. You can also click the "Donate Bitcoin" button to receive an invoice.
The Bitcoin will be sent to the address and will be with the organization in a matter of minutes. You can now rest assured that you are donating in the most efficient and transparent way possible.
- Little Phil: Now Anyone Can Be a Philanthropist
- How to Gamble with Altcoins on Bitcoin Casinos
- How to Use the CryptoCompare Portfolio Risk Analysis tab
- CryptoCompare Portfolio FAQ
- How to Add Sold Coins on the CryptoCompare Portfolio
- How to use the Portfolio Advanced Charts
- How to use the Portfolio Accounting Tool