With a bitcoin wallet, you can now donate to charities around the world at the click of a button. You can stay anonymous, or show your name. It’s all in the blockchain. In this article, we discuss just how you can lend a helping hand to those in need with the ease of your bitcoin money.
Oh, and donating funds to charity is often tax deductible. You literally get your money back, and help organizations that you support!
Charities that Accept Bitcoin Wallet Funds
Since we want to save money in our bitcoin supported wallet, let’s go over a few IRS 501(c)(3) public charities which accept BTC. The reason these are so fantastic is because they’re eligible to receive tax deductible contributions.
One of these organizations is Against Malaria Foundation. Their websites allows you to donate with Bitcoin with a $100,000 daily limit. That’s incredible for a charity to be so progressive with technology. Not only that, but the charity offers a huge emphasis on transparency. Indeed, many charities may not be so honest – funds can be allocated in marketing and barely go towards helping anyone. But with transparent charities, donations received all link to a specific distribution! Furthermore, BTC will allow the world to see what exactly the funds are going towards at what time. We just need a larger network in cryptocurrency. Every month, the donators all get regular updates.
As Bitcoin geeks know, every single transaction made with Bitcoin is permanently stored on a publicly accessible data structure known as the blockchain. Every digital currency cryptocurrency has this, and it’s basically a piece of data that links to the next piece of data, which contains information regarding all the transactions made in the timeframe between the two blocks.
This of course, relates to just how easy it is to track where payments are going. It’s impossible for organizations to allocate funds wrongly as the blockchain becomes a greater factor in general day to day life. Banks will begin to use it, and many organizations who want to show transparency will start to use the blockchain for the best bitcoin wallet as a huge selling point. As well, people will start to trust these organizations more as they offer a huge advantage to the competitors who do not offer the same level of openness with money related questions.
Non-Charity Organizations worth Donating to
There are plenty of organizations who do not do work regarding Bitcoin or charity, but run very useful services for the web. Among these, is archive.org. Their team indexes a huge amount of websites. Everyone can easily check a website’s past history before any deal is made. It truly is a game changer for the web.
If you want to donate, make sure to use a Bitcoin wallet as they offer the greatest amount of security and convenience for the end user. It’s vital to keep track of your coins, especially in this new technology age.
Be Careful of Fake Bitcoin Charities
Since digital currency is in its infancy, there are many people out there who are clever enough to take advantage of the gullible nature of humans. Indeed, charities which are not properly distributing funds or are simply unreal exist in our industry. And, people have gotten baited by such operations. There have been countless numbers of operations which people have been duped, and lost their Bitcoin. It’s vital to keep an open mind, and a skeptical heart to any kind of benefit to you – financial or emotional.