What Is GivaCoin?
For a matter we often overlook, the non-profit sector is also a huge beneficiary of the blockchain technology. With all the transparency, and security the technology has to offer, chances of fraud or mismanagement are becoming more like past challenges.
As such, this has led to the rise of charity and aid platforms which incorporate the use of cryptocurrency in their donation programs and events.
Givacoin is a similar idea to a crypto token crowdfund. The platform accepts donations from donors in the form of cryptos and channels these funds into fiat currency to help the various aid and charity programs. Each contribution will be in the way of a crypto token (GVC), which is the project's form of currency for donation and its reward programs.
How Does GivaCoin GVC ICO Work
The platform intends to offer 400 million GVC tokens during the ICO phase. Once a user registers, they can purchase the coin to facilitate their donations to the platform. There are various campaigns to choose from ranging from health, and natural disasters among other. You can select a category and decide on how much you plan to donate. If you are a frequent donator, you can get lucky and receive extra tokens in return. If you plan on using the tokens, its liquidity is mainly through cryptocurrency exchanges.
Givacoin Cryptocurrency Crowdfunding Contributions Benefits
The first benefit would probably go to the user's platform. Apparently, the platform plans a customer loyalty program where users can get reward tokens based on the number of donations they give out. You can donate to the charity campaigns using various cryptocurrencies and get GVC tokens as a form of appreciation.
Additionally, the GVC tokens can be redeemed to claim valuable gifts at the site's online marketplace. The user gets to choose from an extensive product catalog what he feels suit most and redeems the tokens to get the item.
The platform users are not the only individuals who will benefit from this crypto funding. The charitable firms and individuals around the globe will also enjoy the benefits that come with having charity and donations on the blockchain. First off, there will no longer exist the barrier of currency among donators from a different part of the globe. The mode of money for the Givacoin platform is the GVC token, which can be bought by fiat, or other cryptos on the preferred exchanges.
Consequently, the blockchain platform would have opened the fundraising programs to an audience on a much bigger scale. That is a massive benefit for those in need since the number of donations will increase with the program now operating on a global level.
Is GivaCoin Worth It?
As of now, most crypto fundraiser charity programs have a bad reputation for turning into scams. A large part of these ventures have scammers looking for a quick means to extorting cryptocurrency. However, Givacoin seems like a viable project willing to help through the blockchain. All-in-all, it's hard to track whether the donations are going to the right causes. The use of smart contracts does not guarantee full proof of fraud not happening. As a result, it is wise to keep away from such projects if you feel you don't trust them enough. Remember this is the blockchain, and any anything is possible from the most innocent of ventures.