Published
5 years ago on
June 28, 2018
“Two billion people have smartphones, but don't have access to basic financial services. We give cryptocurrency to people to help connect them to an open financial system.Recipients can; cash out crypto to their local currency, buy goods and services they need, and, transact in crypto or hold it long term.â€Moreover, according to Armstrong:
“Given the enormous wealth creation from cryptocurrency, and the future potential upside, I believe there is a rare opportunity to create a large non-profit fund.â€https://www.givecrypto.org/ At present, donations can be made in Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple XRP and Zcash. As mentioned, all donations are being used to directly send finance to those in need, however, the website does stipulate that those willing to donate over $25,000.00, are able to agree to have some of their donation used to help cover the costs of the Givecrypto.org platform. This is an opt-in process however, otherwise, your donation still gets sent to a person in need in its entirety. This is a great platform and a very noble project. Armstrong is using his position as a leader in the crypto-world to give something back and re-empower those who need assistance. Incredibly, this is exactly what cryptocurrency was made for and therefore, this really is taking advantage of the nature of crypto. Hopefully, when the markets start moving back upwards, more people will be in a position to donate. They have made over $1 Million already and the platform has been live for a day (okay, these donations came prior to launch) but even so, imagine how many donations they are going to have to handle when prices surge again?
