On May 30th, through its official X account, the British Red Cross announced its acceptance of donations in various cryptocurrencies, including Bitcoin (BTC), Shiba Inu (SHIB), and XRP. This decision reflects the growing popularity of digital assets and caters to a new generation of donors comfortable with cryptocurrency transactions.

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Dedicated Crypto Donation Portal

The British Red Cross has established a user-friendly portal designed for cryptocurrency donations. This portal allows donors to directly contribute to various humanitarian efforts, supporting crisis-stricken regions like Palestine and Israel, or providing general aid in the aftermath of natural disasters.

The British Red Cross prioritizes transparency and upholds ethical standards in its fundraising practices. While anonymous contributions are not allowed, the organization only requires basic donor information for crypto donations under $5,000. However, to maintain financial integrity, donations exceeding $5,000 undergo a dedicated ethical screening process.

Fees Associated with Crypto Donations

The British Red Cross partners with The Giving Block, a platform that facilitates secure and efficient crypto donation processing. The Giving Block charges a tiered fee structure to cover operational costs. Donations under $25,000 incur a 3.9% fee, which progressively reduces to 1.9% for contributions exceeding $100,000.

Supported Cryptocurrencies

The British Red Cross demonstrates its commitment to inclusivity by accepting a wide range of cryptocurrencies through its partnership with The Giving Block. Donors can contribute using established digital assets like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), alongside prominent stablecoins pegged to traditional currencies.

In contrast to the British Red Cross’s recent adoption of cryptocurrency donations, the American Red Cross has been processing crypto contributions for almost a decade. This highlights the varying paces at which charitable organizations adapt to technological advancements.

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Conversion Process and Disbursement

It’s important to clarify that donated cryptocurrency isn’t directly transferred to the British Red Cross. The Giving Block acts as a mediator, instantly converting all crypto donations into US Dollars (USD) for streamlined accounting. These converted funds are then transferred to the British Red Cross every week.

The British Red Cross’s embrace of cryptocurrency donations signifies a progressive approach to fundraising. This move expands donor options and leverages the growing popularity of digital assets.

By establishing a dedicated crypto donation portal and partnering with a reputable processing platform, the British Red Cross ensures a secure and transparent experience for donors seeking to support humanitarian efforts through cryptocurrency.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.

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Reportedly, about 10,000 buildings have been destroyed, over 36,000 killed, and more than 50,000 people trapped beneath the rubble, leaving over 13 million people in need of assistance in Turkey and Syria. 

According to an announcement published a couple of hours ago, Ripple is pledging up to $1,000,000 in XRP to finance non-governmental organizations (NGOs) that are providing humanitarian aid to the above earthquake-stricken nations. 

Notably, Ripple is making these financial commitments via a cause fund dubbed Crypto For Charity and the San Francisco-headquartered payments company is calling on more crypto projects to make voluntary donations to support victims of the Turkey-Syria earthquake. 

As per the update, Ripple donated $250,000 in XRP, disclosing that it would match 2:1 all crypto donations made to the relief, up to $750,000. 

“We are committing $1M in XRP to support NGOs providing earthquake relief in Turkey and Syria – through a relief fund on Crypto4charity and are donating 250k USD in XRP and will also match 2:1 all crypto donations here, up to $750k,” Ripple tweeted. 

We are committing $1M in XRP to support NGOs providing earthquake relief in Turkey and Syria – through a relief fund on @crypto4charity_ and are donating $250k USD in XRP and will also match 2:1 all crypto donations here, up to $750k USD. https://t.co/5baCiawOJr

— Ripple (@Ripple) February 14, 2023

The company added that grants made to the Crypto For Charity fund will be distributed equally among the included four non-profit organizations. These NGOs include CARE, World Central Kitchen, Mercy Corps, and the International Rescue Committee (IRC).

CARE provides food, shelter, hygiene kits, warmth supplies, and cash assistance in Syria and Turkey, while World Central Kitchen focuses on distributing meals for survivors and first responders in Turkey. On the other hand, Mercy Corps delivers essential supplies in Syria. Whereas, the International Rescue Committee (IRC) majors in the provision of immediate cash, hygiene supplies, health services, and safe spaces for women and children in both Turkey and Syria. 

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It’s worth noting that Ethereum co-founder Vitalik Buterin and the Tezos Foundation are among the crypto entities that have donated to the earthquake relief cause. In Buterin’s last two donations, he committed a total of 149 ETH to help victims of the natural disaster. Data on Crypto Ahbap show that $4,489,610 have been donated so far, at the time of writing. 

The #TezQuakeAid initiative would like to express our gratitude to the @TezosFoundation for agreeing to support in facilitating the transfer to the NGOs.

We have successfully transferred 50,000 XTZ to the Tezos foundation wallet. We will share all relevant information soon.

— TezQuakeAid (@tezquakeaid) February 13, 2023

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As revealed by Elliptic, a blockchain analytics firm, Ukrainian crowdfunding had gained a relatively 900% increase since 2021, with most donations coming from within the country rather than from other countries or organizations.

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As revealed by the analytics platform, one of the organizations from within Ukraine, which has been helping in crowdfunding for the country’s defense effort is Come Back Alive.

The group has reportedly received about $200,000 in funding between September and December 2021, providing support primarily for Ukraine’s army.

Also, Cybersecurity organizations have been receiving funding via cryptocurrencies for years now. A suitable example of such an organization is the Ukrainian Cyber Alliance.

The group predominantly carries out cyber operations against Russia-based hackers and propaganda disseminators. The organization relies solely on donations from supporters across the world via Bitcoin (BTC) or Litecoin mining ventures. Last year, they reportedly received nearly $100,000 donations in Bitcoin and other cryptocurrencies to fund their operations against Russia.

Crypto Is Taking the Centre Stage

With the possibility of their accounts being restricted by banks, private donors have resorted to donations in crypto as aforementioned.

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These groups have seen a significant rise in cryptocurrency funding thanks to Bitcoin. Digital currency is becoming an alternative channel for donors, despite restrictions imposed by traditional financial systems.

Since the Ukrainian military was effectively getting overwhelmed by the Russian invasion, many citizens have taken up arms to fight. They are called “volunteer groups.” They get funding from private donations, which come primarily from crypto.

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