Cryptocurrency Can Really Make a Difference in Helping People

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Between Bitcoin (BTC) breaking through the $ 50,000 hurdle and the rise of altcoin markets, crypto has never been more appealing to speculators. But, stacking profits through trading is worth nothing unless that money is spent. Fortunately, charities are becoming aware of the possibility of crypto donations as the world embraces crypto. For blockchain entrepreneur Wendy O, when a local gym was in jeopardy, she was able to tap into crypto Twitter for help. Using social media, her YouTube channel and Tik-Tok, the influencer launched the call to save a business close to her heart.

The Self Care Lab is a boxing gym located in Pomona, California that caters to disadvantaged and at-risk youth. Owner Nita Watson recently discovered that ownership of the gymnasium building had changed hands and she only had 30 days to move out and find a new home for a community she had spent years building.

Luckily, Wendy O is a longtime gym client and an avid supporter of using fitness to raise young people. Wendy has tapped into her network of blockchain enthusiasts, traders, entrepreneurs and self-proclaimed degens to raise funds not only to move locations, but also to upgrade various worn out equipment. While the Gyms’ Go Fund Me page did not reach its end goal, there were enough fiat and crypto donations to secure a new location. Wendy O told Cointelegraph:

This gym has been such an important part of my life and I can’t imagine where I would be without it. It’s more than boxing, it’s all about self-care and therapy. And many of these kids need a positive place like this to stay focused and away from other less productive activities. As someone who made a living in crypto, I knew I could count on my friends to step in and make a difference.

However, the innovation was not limited to allowing crypto donations. To capture the attention of the fledgling blockchain art community, Wendy O has successfully launched a series of non-fungible tokens (NFTs) on the Theta blockchain, with thousands of sales to date. Two of these NFTs are redeemable for counseling sessions with Wendy O, injecting some utility into donations. Bridging the gap between speculators and charity is a relatively new phenomenon in the decentralized asset ecosystem, although it will likely be more popular as more well-known names in the space begin to leverage crypto for. charitable causes. By avoiding payment operators, middlemen, and third-party processors, more of each crypto donation can be received.

Related: Putting Humanity First Over Profits Through NFTs

Other projects have long accepted Bitcoin donations, including the Kessler Foundation and the Dementia Society of America. More recently, the PAWS Animal Rescue in Chicago has started accepting donations of Dogecoin (DOGE). Even though there is no NFT involved in the PAWS case, the appeal of helping dogs with such a popular canine token seems undeniable.

More recently, the blockchain industry has supported charities focused on helping humanitarian efforts in Afghanistan. As thousands of refugees seek new homes around the world, nonprofits are mobilizing to act. Consulting firm Visualize Value recently partnered with CARE to sell NFTs that cover a family’s emergency needs.

Related: Digitizing Charity: We Can Do Better To Do Good

As impactful as these donations are, perhaps it is the convenience of crypto that ultimately prompts more users to send funds. Generally speaking, the traditional way to donate online includes filling out a long form, manually entering credit card information, and other steps to donate. In contrast, for crypto investors who feel comfortable doing blockchain transactions, sending BTC or Ether (ETH) is second nature. Instead of bidding on penguin NFTs, in this case, they are helping a just cause.

A casual glance at some of the posts on Crypto Twitter might seem a little odd. Timelines are filled with random scams, various scams, traders celebrating their wins, and stories of people losing untold amounts of money due to bad business practices. While it might seem like a rude crowd to an outsider, those who can navigate space are able to find charitable diamonds in the rough.

This article does not contain any investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research before making a decision.

Kaltoro is the Senior Social Media Manager at Cointelegraph.

The views, thoughts and opinions expressed here are the sole authors and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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