Bitcoin and Philanthropy: Transforming Charity in the Digital Age

credit: John Peter Lee, Ltd.

"In the digital age, where technology plays a pivotal role in shaping societal norms, Bitcoin is emerging as a powerful tool for charitable giving."

That's the takeaway from an agavecoin.io post that looks at the potential of the cryptocurrency to "transform the world of philanthropy."

In short, it's a way for people who don't have bank accounts or other basic financial services to donate money without having to deal with banks, charities, or other intermediaries.

Plus, it's a lot cheaper than other forms of payment, such as wire transfers or credit cards.

"Bitcoin transactions, on the other hand, typically have lower fees, making it more cost-effective for donors," writes the post, which cites studies showing that many people around the world don't have access to basic financial services, such as bank accounts, and that Bitcoin can be processed in minutes, compared to days for traditional banking systems.

The post also notes that Bitcoin's public ledger, called the blockchain, allows for greater transparency and accountability, as well as allowing donors to reach populations that aren't served by traditional banking systems.

The Pineapple Fund, for example, has donated more than $55 million in Bitcoin to various charitable causes, including health, education, and environmental conservation

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