Are you someone emphatic towards the conditions of people less privileged than yourself? Do you want to reach out to the poor and downtrodden and share your happiness with them? If both the answers are in the affirmative, you can work with non-profit organizations supporting causes close to your heart. In addition to the common means of making donations, you can also work with charities accepting bitcoin and do your bit towards the betterment of others in your immediate community.
Before we go further, some basic definitions are in order. Some of you might be aware of bitcoins whereas for others, the term may appear new.
It is a digital currency we are talking about here. Bitcoin is in fact a peer to peer payment system introduced as open source software no further back than 2009. The creation of money as well as its transfer is controlled through cryptography and so it is also called a cryptocurrency.
As someone wanting to send payments through bitcoins, you would have to broadcast digitally signed messages to the network. The participants in the network are known as miners. The transactions made in the network are verified and stamped by the miners in a shared public database, also known as the block chain. For this, they are rewarded with newly minted bitcoins as well as transaction fees. Bitcoins can be obtained either through mining or in lieu of exchange of products, services, and other currencies.
As of now, there are quite a few charities accepting bitcoins to fund their philanthropic activities. You can connect with one such organization, donate bitcoins, and make sure that you are reaching out to others in need.
Making donations using bitcoins is quite a simple affair actually. You can use your smartphone to scan a QR code; this executes the donation and ensures that your bitcoins reach the other party instantaneously.
There are many advantages of using bitcoins for charity. It is a frictionless way to send money and help others. It is a low cost money transfer that is hugely beneficial to the charitable organizations as well. The transactions are traceable; you can go back to the block chain mentioned above and see every transaction being made the charitable organization you are sending the bitcoins to.
The only thing is that you need to identify a reputable non-profit organizations or charities accepting bitcoin. You can then make your donations through this cyrptocurrency and bring in a positive difference to many lives.
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