UNICEF is a globally recognized nonprofit organization. It too decided to jump on the crypto donation bandwagon, courtesy of The Giving Block.
More and more nonprofits see merit in accepting bitcoin donations.
UNICEF Sets the Right Example
That decision is straightforward, as it is one of a handful of global currencies.
More importantly, the cryptocurrency community is widely considered to be a generous one where good causes are concerned.
In the case of UNICEF, their acceptance of bitcoin donations began some time ago.
An important change was made in recent months, however.
As of October 2019, UNICEF confirmed it will hold bitcoin donations in BTC, rather than converting them to fiat currencies.
This decision is part of UNICEF’s big plan.
The nonprofit aims to distribute crypto donations to open source tech projects.
By embracing cryptocurrency grants, the organization sets an interesting precedent for others to follow.
It is very interesting to see how UNICEF approaches bitcoin and altcoins.
Most nonprofits want tog et rid of cryptocurrency as soon as possible in favor of fiat currencies.
This is why so many organizations rely on BitPay, as it has a built-in conversion service.
The Giving Block does things a bit differently, and it supports the top alternative currencies as well.
If successful, UNICEF will raise $25 million in cryptocurrency grants.
Their main focus lies on bitcoin and ether.