Binance Charity’s recent survey reveals a growing preference for blockchain-based donations, with 32% of respondents favoring cryptocurrencies for charitable contributions.
Today, Binance Charity, Binance’s philanthropic subsidiary, shared essential insights from a survey geared toward understanding the shifting dynamics of charitable contributions. The study, gathering feedback from 1126 participants, including Binance users and the general public, sheds light on evolving philanthropic trends.
Traditional methods such as cash, checks, and credit cards are still in vogue, accounting for 43% of donation methods. However, blockchain-based donations are rising, with 32% preferring cryptocurrencies for their charitable endeavors.
Although 71% haven’t tapped into the potential of crypto-based donations, a promising 29% have ventured into this domain, emphasizing crypto’s growing acceptance in charitable spheres.
The appeal of cryptocurrencies for donations lies in blockchain’s inherent strengths. 37% laud its transparency, 32% its efficiency, and 28% value its accountability with traceable transactions.
Crucial aspects when selecting charities include:
Transparency and accountability: Essential for 27%.
The cause: A driving force for 26%.
Demonstrable impact: Vital for 18%.
Charitable sectors gaining traction are:
Humanitarian relief: 22%
Regarding charitable engagement, 51% donate as per their capability, while an inspiring 20% are devoted philanthropists.
Binance Charity’s Global Impact
Given these insights, Binance Charity has been steering its projects to align with public sentiment. From emergency aid education to health projects, Binance Charity leverages blockchain to redefine philanthropy.
$10 million in crypto donations for Ukraine crisis relief.
Launch of the innovative Binance Refugee Card for swift and secure funds transfer.
$5 million aid for Turkey’s earthquake victims.
Educational endeavors span five continents with 57,000 graduates.
“Crypto Against COVID” campaign donated $5.7 million in crypto, facilitating the distribution of 2 million PPE items and 500,000 vaccines.
Enabling global non-profits to accept crypto donations via Binance Pay or DeFi wallets.
For a comprehensive understanding of Binance Charity’s mission with Web3 technology, refer to their 2022 Annual Report.
The survey spanned from August 19 to September 4, 2023, via the Binance Survey platform. Engaging 1126 global participants, its findings don’t reflect Binance’s views.
About Binance Charity
A non-profit venture, Binance Charity aims to harness Web3 for impactful societal change. Its mission is to make Web3’s education and research universally accessible and catalyze global humanitarian projects. Binance Charity, through its transparent donation platform, envisions a future where technology stands as a beacon of positive change. Further details are available at Binance Charity.
Binance stands as the world’s foremost blockchain ecosystem and cryptocurrency service provider. Renowned globally, Binance enhances financial freedom and offers a diverse crypto product spectrum. More about their offerings can be found at Binance.