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There has not been much good news lately with falling prices. Even with a sudden increase, no one knows for sure if crypto has bottomed out. It may be surprising that even when crypto HODLers bleed richness, they are always in a good mood. According to a poll by WeTrust, no less than 77% of crypto holders are interested in charitable donations.
It may be the spirit of the holidays, giving a few ETH today does not cost so much, or maybe tax breaks. It could also be that the cryptographic community is largely composed of millennia and this generation simply likes to donate to charities.
Whatever the reason, the 1,000 US-based crypto holders surveyed by WeTrust revealed their willingness to give for good causes. And the majority has already done so.
The most surprising statistic? 79% would prefer to donate their virtual money than to buy a Cryptokitty. It seems that we are not a renegade group so upset after all.
Some of the main conclusions of the WeTrust survey
- 90.5% had already made at least one crypto donation to a charitable cause
- 77% are interested in making more cryptographic donations to a cause that matches their values
- 55% say the cryptographic community is "more generous" than the rest of the population
- 62% believe that all charities should accept cryptographic donations as a simpler and more efficient way to raise money
- The number of crypto holders interested in buying a Cryptykitty is still quite high (71%), but is overwhelmed by those who would prefer to donate to a nonprofit at 79%
What types of causes interest crypto holders?
With regard to types of charities, there is a wide variety. The causes that most interest the cryptographic community are the problems of children (49%) and homelessness (42%). Animals (the real ones) also occupy an important place on the list with 38%.
A key finding of the conclusions, however, is that most crypto holders believe that charities do not yet do enough to reach potential crypto donors. More than half (54%) of respondents said it was difficult to find good charitable causes that accept cryptography. And it is even more difficult to find those who really keep their promises.
In honor of giving Tuesday
WeTrust is a blockchain company that allows crypto holders to directly donate ETH to nonprofit organizations. She commissioned the survey at Pollfish in honor of Donner on Tuesday, November 27th. Its latest platform, WeTrust Spring, accepts cryptocurrency donations in Ethereum, although the company plans to extend it to other crypto-currencies in the future.
WeTrust's advisors include Ethereum founder Vitalik Buterin and Cornell University professor and co-director of IC3 Emin Gün Sirer. Alongside Pollfish, a market research company that uses cutting-edge techniques, including machine learning and programming, has been able to achieve accurate results through advanced fraud protection.
The rise of charitable giving through crypto
Crypto donations are particularly popular with the millennial generation. This is not a surprise. They are tech-savvy, have shorter lifespans, and are looking for simpler ways to donate than the generations that preceded them.
With more than 1.5 million nonprofit organizations registered in the US alone, it can be difficult for charities to compete for donor attention. The most popular charities are those who can afford to spend money on advertising. Well-known organizations that can infiltrate donor consciousness through television or advertising promotions.
In this competitive environment, charities need to make it as easy as possible for people to donate. Accepting cryptography is a great way to get rid of the group.
Non-profit organizations wishing to accept cryptographic donations can visit the WeTrust Spring platform here. And for those who prefer to receive donations in Bitcoin, there are other platforms available to help them, including BitGive and Bithope.
What social entrepreneurs mostly remember from this survey is that their largest demographic group is also the most involved in cryptography. They must make it as easy and transparent as possible to donate with the cryptocurrency of their choice and see the benefits of their donations.
Selected image of Shutterstock.
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