UNICEF Accepts Donations Through Bitcoin And Ethereum

UNICEF seems to catch on the trend of payment method as it now accepts donations in major cryptocurrencies, including bitcoin and ethereum. The UN’s charity is the first organization in the UN system that claims crypto as an acceptable method, so it and recipients of the funding will take advantage of fee-free when transferring money overseas. In addition, donors will have the ability to observe how their donations are spread out all around the world.

Once the organization receives a donation in the form of cryptocurrencies, it won’t exchange it for any national currency. UNICEF then forwards those bitcoin or ethereum funding to a charitable fund that links with UNICEF and similar humanity purposes. As mentioned, all the distributions and donation processes will be ensured to be transparent as much as possible. Compared to cash, the worth of original contribution will keep a larger percentage when being handled to recipients.

The volatility of cryptocurrencies leads to value lost between the time of a donation and a disbursement, bitcoin and ethereum will only be used for short-term programs. For example, such donations will be tasked with sending water and food to areas struck by famine.

With the launch of UNICEF’s Cryptocurrency Fund, its first contributor will be the Ethereum Foundation. The new donation model is expected to vary other types of funding for UNICEF and its future missions.