- December 20, 2018
- Posted by: Matthew Miller
- Category: Blog
Digital currency or cryptocurrency is taking expanding its potentials; developed, not only for business industry or profitable organization but also for non-profitable institutions.
What is cryptocurrency anyway?
Cryptocurrency, as defined by the experts, it is a digital monetary that is designed to work as a payment or any other medium of exchange by using cryptography; this is to secure all financial transactions, without being controlled by a bank or the government.
Using the blockchain technology that keeps and drives each transaction safe and secured, here are a few incredible benefits of cryptocurrency in general:
• Paying for the purchased item, assets or properties, and more is now faster and seamless.
• Since cryptocurrency is designed with encryption and backed with blockchain technology, any fraudulent activities are almost impossible to happen.
• Another notable advantage of cryptocurrency is the reduced to zero transfer fee; unlike for a bank to bank transaction.
• Even though there are still several consumers and business owners who know less about cryptocurrency, it is still widely recognized that includes the cryptocurrency transaction outside of the country.
More than these, cryptocurrency is now starting to expand its popularity and use; this includes the non-profit organization or institution. In fact, did you know that more and more NGOs are now utilizing cryptocurrency when it comes to accepting donations?
However, before delving into cryptocurrency, it would be wise to read more posts and articles like this; in fact, if you check how cryptocurrency works in on a crypto press release service, it’ll be easier for you to join, especially for the non-profitable institution.
But, why does non-profit organization has to bother adapting cryptocurrency?
It is not unknown to many that almost everything is now done through “smart” devices and the internet, where you can easily purchase your favorite dress through the use of cryptocurrency or digitized money.
So, why bother to adapt to the system? That is simple; here are a few reasons why your non-profit institution needs to adapt to cryptocurrency:
Reason #1: Every transaction is fast, efficient, and transparent
It is without a doubt that all transaction in cryptocurrency is fast, efficient, and transparent; since it does not deal with too much paperwork, but works digitally, you do not need to wait for several days for each donation to appear on the bank account, especially for international donation.
Reason #2: It is more accessible to foreign donors
If you want to access international donations, cryptocurrency is one of the safest and more accessible options for foreign countries to donate digital monetary for your non-profit institution. There is some non-profit institution that uses both crowdfunding platforms and cryptocurrency when dealing with donations in the international base.
Reason #3: There is less risk of fraud
Even for a non-profit organization, collecting donations for a cause is still at risk of fraud. Fortunately, with cryptocurrency, all transactions are encrypted and backed with blockchain technology; where human alteration on the data is almost impossible to happen.
This is the future; if you want your business or non-profit organization to grow, why not understand more about digital currency and how it can make the path to a more advanced and secured future.