Amidst the market downturn and widespread panic selling that began last week, shaving billions from Bitcoin’s market cap, altruism is driving-decision making among certain crypto investors. According to a new survey conducted by Pollfish, cryptocurrency hodlers are inclined to give up their assets for a worthy cause.
An overwhelming majority of respondents say they’re interested in making charitable donations using their cryptocurrency. The vast majority of respondents had already made a crypto donation and 1 in 4 are more likely to give up their assets if they can do it in crypto.
Here are some highlights from the study, commissioned by WeTrust, a decentralized platform for financial products.
90.5% reported having made a monetary donation to a charitable cause.
- 77% want to make a donation.
63% made a donation within the past year.
62% said charitable organizations should embrace cryptocurrencies for fundraising (versus those who said charitable organizations are doing fine without them).
24% said they would be more likely to make a monetary donation to a charitable cause if they could do so in cryptocurrency.
- 55% believe the crypto community is more generous than the general population.
- Children’s issues – 49%
- Homelessness – 42%
- Hunger – 41%
- Animals – 38%
The survey of 1,000 US adults was conducted on October 11-12.
Your Ethereum donation just got bigger! @WeTrustPlatform will match donations to Code for America by half through #GivingTuesday (11/27)! Make your donation here to help restore #JusticeAtScale: https://t.co/sswfv1Lw4Z pic.twitter.com/KJPyYJd0SN
— Code for America (@codeforamerica) November 20, 2018
Socially driven entrepreneurs and nonprofits are able to raise crypto funds through WeTrust Spring, which allows cryptocurrency holders to make donations in Ethereum to a range of participating nonprofits.