As a whole, The Giving Block found that donations in cryptocurrency to charitable organisations increased an amazing 1,558 per cent over the past year, as traders and investors opted to share their spoils with deserving causes.
The evidence in the report seems to suggest that charitable organisations are increasingly interacting with a new class of donor; able to contribute larger payments instantly with a lot less paperwork.
To paint a picture, the average charitable cash donation in 2021 was $128 and the average charitable crypto donation was 82 times greater with an approximate value of $10,455.
An emerging class of crypto donors
“As an emerging source of fundraising, individuals from all corners of the crypto community – from anonymous donors to industry leaders to NFT artists—have shown an eagerness to embrace their capacity as supporters of important causes, from animal rights and disaster relief to mental health awareness and cancer research,” said Pat.
“We are thrilled to have made increased access to capital available for hundreds of worthy causes and provided the opportunity for a growing number of crypto users to donate to the charities that interest them.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.