Home / Crypto Currency / Giftcoin: Using Cryptocurrency for Charity

Giftcoin: Using Cryptocurrency for Charity

Giftcoin is a cryptocurrency that will be used for donations. The key goal of the developers of the coin is to help those in need using blockchain technology, which makes it easier for people to make donations.

Giftcoin offers more than an opportunity for users to donate. It also provides a wide selection of charitable organizations where one can donate. Additionally, the platform tracks the donations, ensuring that it has reached its intended recipients. The goal of the platform is to come up with a system that is completely transparent and free, starting from the donors to charitable organizations. This means that any transaction carried out on Giftcoin is free. However, to ensure the sustainability of the platform after the offering of the Giftcoin tokens, a small fee of $1 will be charged for converting fiat currency to Giftcoin. This will encourage users to use the system to give donations.

How Does the Platform Work?

Users who wish to donate via the platform have to download the Giftcoin e-wallet and link it to their bank account. The user further configures the app and chooses the maximum amount of Giftcoin he or she wishes to buy monthly. Every time you purchase something, the Giftcoin round-up app converts your payment to the nearest dollar. The difference is stored in your e-wallet in the form of Giftcoins. After you have accumulated enough Giftcoins in your wallet, you can donate them to the charity of your choice.

The use of smart contracts allows for transparency and donors will get to know who receives the donations. This will encourage others to donate. The platform also enables users to automate their e-wallet such that they will only release money to selected causes.

Benefits of The Platform

This is the first truly-charitable cryptocurrency and is set to fund noble causes

The donation process is transparent due to the use of blockchain technology unlike other donation platforms where donors are not even sure if the money they donate reaches the recipients

The rounding-off of small fractions of money and accumulating the funds is a great and convenient way to donate. Everyone can donate, as no large amounts of money is needed.

How to Buy the GIFT Token

Giftcoin is a cryptocurrency that needs to be stored in secure wallets. Users of Giftcoin should download a secure e-wallet first and keep the bought coins in it. Users who participate in the ICO can earn the digital coins, but they must meet some requirements.

Those wishing to invest in the platform can register for an upcoming ICO and acquire GIFT tokens using Ethereum or Bitcoin. The value of the gift coin is set at 900 GIFT tokens= 1 Ethereum.

Are you interested in charity? Do you think this is the right investment for you? Let us know your take in the comment section below.

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.

Read more

Check Also

Bitcoin Price Intraday Analysis: BTC/USD in Bear Flagpole Formation

Bitcoin on Tuesday depreciated more than 3 percent against the US Dollar after reversing from a bear flag top yesterday. The BTC/USD walked the day carrying the prevailing bearish sentiment on its shoulders. The early Asian trading session opened at 6518-fiat and didn’t wait much before dropping below key support areas around 6500-fiat and 6400-fiat. The post Bitcoin Price Intraday Analysis: BTC/USD in Bear Flagpole Formation appeared first on CCN

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.