Bitcoin
British Red Cross now accepts Bitcoin, Shiba Inu, XRP
The British Red Cross, a global humanitarian charity, has released its endorsement of donations in cryptocurrencies such as Bitcoin, Shiba Inu and XRP.
In a post on its official X on May 30, the organization solicited donations from the online community, emphasizing that humanity takes precedence in any crisis. The British Red Cross reiterated its commitment to neutrality and impartiality in helping people, regardless of their identity or location.
The image embedded in the post visibly states that the organization now accepts contributions in cryptocurrency.
In any crisis, humanity comes first. We are neutral and impartial, so we help people no matter who or where they are.
Donate today.
– British Red Cross 🧡 (@BritishRedCross) May 30, 2024
Donating BTC, Shiba Inu, XRP to the British Red Cross
Notably, the British Red Cross has a dedicated portal for crypto donations, allowing holders to contribute to various charitable efforts. It includes regions in crisis such as Palestine and Israel, as well as general emergencies caused by natural disasters.
The organization requires accurate information from donors as it does not support anonymous contributions. Crypto donations under $5,000 do not require screening beyond that. However, donations over $5,000 must go through another dedicated channel for ethics screening.
Additionally, The Giving Block, which processes these crypto donations, charges a fee of up to 3.9% for contributions under $25,000. Donations between $25,000 and $100,000 incur a 2.9% fee, and 1.9% applies to donations between $100,000 and $1 million. Contributions over $1 million are subject to a 1% tax.
The platform supports several cryptocurrencies, including prominent ones like Bitcoin (BTC), Shiba Inu (SHIB)XRP, Dogecoin, Ethereum and several stablecoins.
Other Charities That Accept Crypto
In response to a query in 2022, the British Red Cross confirmed that did not support cryptocurrency donations at the time. However, reports indicate that the organization likely began accepting cryptocurrency donations in the last quarter of 2023. Around the same time, the Singapore Red Cross also began accepting cryptocurrency donations.
In contrast, the American Red Cross has been accepting crypto donations for nearly a decade. According to an official press declaration On November 26, 2014, the American Red Cross processes crypto contributions through the BitPay payment processor.
It is important to note that funds donated in crypto do not reach the British Red Cross directly. Instead, The Giving Block converts all cryptocurrency donations to US dollars instantly and transfers the funds to the British Red Cross weekly.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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