Coins 4 Clothes is a Toronto based charity organization that links charity to cryptocurrencies. The crypto charity movement is out to spread love to the homeless using Bitcoin Cash. Those living in the streets can benefit from the power of blockchain which allows them to have clean clothing and tasty meals.
Coins 4 Clothes Donations
There are various ways that this organization donates to the homeless. It includes:
The platform has strategically partnered with cryptonize to make massive purchases from retailers. The brand new clothes purchased are paid for using Bitcoin Cash through the cryptonize website.
The founder of the movement, Tim Horton, has put in place strict guidelines on how food cards can be used. If the cards are inadequate, he uses his credit card to an amount equivalent to Bitcoin Cash.
The platform is still in search of a credible crypto provider to engage them in having a pre-paid card; this ensures accountability and transparency. The food cards are distributed to the homeless by a team of volunteers.
Tracking Donations on Coins 4 Clothes
Lack of transparency and accountability is a significant challenge when it comes to charities. The team has designed a spreadsheet that’s accessible to the public which has details on everything the network is doing in regards to charity.
There’s a downloadable excel file that shows all the incoming and outgoing transactions. Constant updates on social media and blogs are also done to show all the charity activities being undertaken.
Why Use Bitcoin Cash?
Unlike Bitcoin, Bitcoin Cash has lesser fees and a quicker confirmation time. Opting to use Bitcoin would make donors have to pay high transaction fees and wait for lengthy periods of time before their transactions are confirmed. The use of Bitcoin Cash allows donors to make even minimal donations that still make an impact since there are no exorbitant fees.
If a person doesn’t own Bitcoin Cash and still needs to donate, they can offer to be volunteers in the program. Volunteering to help distribute food and clothing to the homeless is done by filling in an application form. Sharing information on one’s social media platforms also helps create awareness and spread the beautiful deeds undertaken by Coins 4 Clothes.
The charity movement is among the first in the world to use cryptocurrencies such as Bitcoin Cash to help humanity. Such a move adds to the many reasons why cryptocurrencies can't be ignored. Charity organizations can further their agenda by embracing blockchain technology and allowing donors to make their pledges in a transparent and accountable manner.