The world of cryptocurrencies has exploded. Bitcoin, Ethereum, and Litecoin are just a few of the many new forms of cryptocurrencies. And now, the nonprofit sector is getting in on it.
No longer are assets controlled by strict financial institutions. Instead, currencies are being exchanged in real-time and impacting investors worldwide. ICOs are racking up quite the cash to invest in startups interested in spearheading the growth and development of the blockchain. But it’s not just startups that are branching into cryptocurrencies — nonprofits want to get in on the action as well.
Nonprofits rely heavily on the donations and support of their constituents. Relationship building with donors and partnering with corporations are just a couple of ways that nonprofits can bring in more cash. However, some are stepping away from these traditional methods and adopting cryptocurrencies into their methods of securing donations.
According to CCN, the first bitcoin crowdfunding website for non-governmental organizations in Europe, BitHope.org only uses cryptocurrency to generate funds for the campaigns it hosts.
Check out this lovely infographic by CryptoCoins News.
What are your thoughts on nonprofits using cryptocurrencies to help secure more funds? Tweet @StarterNoise.
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Katherine is a newbie to Denver. She recently completed her Masters in Peace and Justice Studies at the University of San Diego. When she isn’t trying to save the world, Katherine is all about trying any and all delicious foods, hitting up the beach but not actually swimming (deathly afraid of sharks), and taking as many hikes as humanly possible.