New Road - Senegambia Area, Kololi / The Gambia +220 7273841 E-MAIL: contact@nosecrets.ngo

Should NGOs consider taking cryptocurrencies as a form of donation?

If we did not accept cryptocurrencies we would lose potential donations! Once upon a time organisations required people to mail cheques rather than accepting online donations. Eventually transferring a donation online was so comfortable that some donors decided not to donate before going through the process of writing and mailing a check. Organisations that were late to make that switch probably suffered.
These days very few people are actively using crypto as a currency. Most are viewing it as an investment, so they prefer to convert their crypto to Euro/Dollar/Pound Sterling and then donate as always.
Furthermore we have to consider whether we accept crypto earnings to the benefit of our NOSECRETS.NGO

Do you agree that cryptocurrency provides a promising option for charities and humanitarian organisations with respect to fundraising?
WE think YES !

ADVANTAGES & DISADVANTAGES

It is possible that the world benefits greatly from the blockchain but cryptocurrencies don't see the same long-term success. As for crypto, the underlying benefit is a faster and more efficient transfer of money around the world that also potentially takes the big banks and governments out of the equation.
To oversimplify, why do we need to have big banks taking big money to transfer money between people if we have the technology as a society to do it ourselves?
As for the disadvantages, the biggest is that it is still immature and volatile, so it’s hard to invest or pay for something with a currency you don't feel certain that it will be worth anything (or might be worth a hundredfold) in the future.

UNICEF - FRANCE

Accepting Crypto Donations since 09/2018

"Cryptocurrency and blockchain technology used for charitable purposes offer a new opportunity to appeal to the generosity of the public and continue to develop our operations with children in the countries of intervention."
UNICEF France has announced it's now accepting donations in 9 cryptocurrencies, according to a press release published by French media. The local office of the organisation collects contributions in some of the most widely known digital coins, including bitcoin cash (BCH), bitcoin core (BTC), ethereum (ETH), litecoin (LTC), ripple (XRP), eos (EOS), monero (XMR), dash (DASH), and stellar (XLM).
The UNICEF official pointed out that cryptocurrencies and crypto technologies represent an innovation in fundraising for solidarity but are still employed by few organisations in the field. At the same time, he noted the positive trend in regards to the spread of cryptocurrency donations.

ARE WE TRADING OR SPECULATING WITH YOUR CRYPTO DONATION?

We vehemently say NO!

We decided to monetize on a monthly basis 75% of all received crypto donations, cashing crypto in Gambian Dalasi.
Each of our activities, the workshops and projects as well as our financial support for the trainess in the form of food and transport have to be paid in the national currency, i.e. Dalasi!

Is your Crypto Donation safe?

We say YES. All received Crypto Donations are stored offline in a LEDGER NANO X crypto wallet. On a monthly basis we convert 75% of all received Crypto Donations and transfer it to our Gambian ECO BANK account.

What kind of coins do we accept for donations?

First, though, a caveat: it is impossible to list all. There are more than 2000 different coins in existence as of this writing, 02/2019. We decided for six coins believing this selection contains the most secure, stable and future-oriented projects behind the blockchain technology.
Admittedly a subjective selection but we have to start somewhere, although well-considered!

  • XRP - RIPPLE
  • BTC - BITCOIN
  • ETH - ETHEREUM
  • LTC - LITECOIN
  • NEO - NEO
  • ICX - ICON