Charitable organizations stand to gain a lot from accepting Bitcoin payments, due to its global availability and very low transaction fees. The Against Malaria Foundation is the latest organization to accept cryptocurrency payments, although it is limited to a few countries for now.
The number of charitable organizations around the world keeps on growing, as there are so many people in need of financial aid. The Against Malaria Foundation is trying to tackle one of the most severe life-threatening diseases of all time, and every single US Dollar is more than welcome in the ongoing fight against malaria.
But as most people are well aware, every financial institution has to be evaluated on a regular basis. In the case of the Against Malaria Foundation, that evaluation process is handled by GiveWell. This process looks at how effective charities are in turning additional donations into a positive change for the world.
Based on the finding by GiveWell so far, the Against Malaria Foundation is the most effective known way to save human lives on the planet. This is achieved by using the donations to purchase proper countermeasures to malaria infections, in the form of long-lasting mosquito nets at a fair price.
Since Bitcoin is all about transparency and accountability, users will be delighted to hear the Against Malaria Foundation is very transparent about their operations. All of their expenses are properly documented, and they provide regular updates regarding their efforts about post-distribution survey information and malaria case rate data.
For the time being, only residents in the US and Canada can make a contribution in Bitcoin. However, the Against Malaria Foundation is planning to expand their reach in the coming months, as the UK, Germany, and Australia will be coming soon. Theoretically speaking, anyone in the world can donate with Bitcoin right now, but for those users looking to get a tax deduction, they will need to wait until it is available in their country.
Source: Reddit
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
GSR has formally entered the ETF market with their first ETF, $BESO, which is listed…
While the Dogecoin community has always had its share of news to talk about, it…
In a major development, Bitget Wallet has announced the integration of Polymarket directly into its…
The Aave rsETH/wrsETH market froze abruptly, leading to a rapid series of withdrawals, including one…
Last week saw major investment firm Strategy Inc. (MSTR) bust into the crypto world with…
One of Bitmine Immersion Technologies came out to be the most aggressive in its cryptocurrency…
