The United Nations Children's Fund (UNICEF) has just started a new UNICEF Cryptocurrency Fund that lets the UN Children's agency to receive, hold and disburse donations in cryptocurrencies such as Bitcoin (BTC) and ether (ETC).

To be honest, why would you not. General fiat money is very corrupt and if donors want to make sure the correct money goes to the correct place then Bitcoin or Ethereum could be the Answer.

According to RTT, the initial contribution to the fund of reportedly 100 ethers was received from non-profit Ethereum Foundation through the French National Committee for UNICEF. This move will also enable exchanges or crypto firms to donate directly.

Unicef will reportedly use the money to improve technology in deprived areas. It has been said that some funding will go to a project coordinated by the GIGA initiative to connect schools across the world to the Internet.

This is not the first move into cryptocurrencies by a charity. Australia has tapped into cryptocurrency mining to raise funds for the refugee children in Bangladesh using an application by Coinhive, which mines Monero. 

Who said that cryptocurrencies were only used for illicit purposes? What a great way to spread the love and I truly believe it will give access to more donations as more people increase their personal wealth through cryptocurrencies.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin must reclaim $40,000 or risk plummeting to $20,000, curtailing crypto bull run

Cryptocurrencies in the market seem to be resuming their uptrends, following significant losses in the previous weeks. Uncertainty in the market was brought about by Bitcoin’s swings to $40,000 and back to $34,000.

More Bitcoin News

Chinese investors are growingly concerned that Polkadot fails amid EOS-like fraudulent activity

Polkadot is known as the Ethereum Killer and although started trading in 2020, quickly reached a market capitalization of $4 billion. This blockchain protocol offers a high throughput and low-cost transactions, but what does make DOT different than any of the other Ethereum competitors like EOS?

More Crypto News

Binance Coin Price Forecast: BNB makes new all-time highs, bulls target $60 before ultimate upswing to $100

BNB price was able to hit a new all-time high at $46.88 on January 18 after a long grind that started in March 2020. The digital asset has been trading inside a healthy and robust uptrend and could rise even higher.

More Binance Coin News

Ethereum price looks ready for lift-off, targeting new all-time high of $1,700

Ethereum outperformed Bitcoin this past weekend and remains trading above $1,200. The digital asset seems to be contained inside an ascending triangle pattern on the 4-hour chart and could see a breakout in the near term. 

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC price faces extreme volatility ahead of a new all-time high

Bitcoin had a wild run this week, dropping from a high of $41,350 to a low of 30,420 in less than 48 hours. 

Read the weekly forecast

BTC

ETH

XRP