British Red Cross, a global humanitarian charity organization, has disclosed its endorsement of donations in cryptocurrencies like Bitcoin, Shiba Inu, and XRP.
In a post on its official X handle 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 aiding people regardless of their identity or location.Â
The embedded image in the post visibly states the organization now accepts contributions in cryptocurrency.
In any crisis, humanity comes first. We’re 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 crisis regions like Palestine and Israel, as well as general emergencies caused by natural disasters.
The organization requires accurate donor information as it does not support anonymous contributions. Crypto donations under $5,000 require no screening beyond this. However, donations above $5,000 must go through another dedicated channel for ethical screening.
Furthermore, The Giving Block, which processes these crypto donations, charges a fee of up to 3.9% for contributions below $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 exceeding $1 million are subject to a 1% fee.
The platform supports various cryptocurrencies, including prominent ones like Bitcoin (BTC), Shiba Inu (SHIB), XRP, Dogecoin, Ethereum, and several stablecoins.
Other Charities Accepting Crypto
In response to a query in 2022, the British Red Cross confirmed they did not support cryptocurrency donations at the time. However, reports indicate that the organization likely began accepting crypto donations in the last quarter of 2023. Around the same time, the Singapore Red Cross also started accepting cryptocurrency donations.
In contrast, the American Red Cross has been accepting crypto donations for nearly a decade. According to an official press statement on November 26, 2014, the American Red Cross processes crypto contributions via the payment processor BitPay.
It is worth noting that funds donated in crypto do not directly reach the British Red Cross. Instead, The Giving Block converts all cryptocurrency donations into USD instantly and transfers the funds to the British Red Cross on a weekly basis.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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