Bitso, the Mexican cryptocurrency exchange, has partnered with Donadora, the Mexican crowdfunding platform, to launch a crypto-based COVID-19-related donation system, as the platform will help gather funds to buy food for the most vulnerable families affected by the COVID-19 crisis.
On May 15, it has been reported by El Heraldo de México that each pantry delivered will be worth 150 Mexican pesos. They will have enough food to feed families of between four and six members for a week.
However, donation options include both fiat currencies and various cryptos, such as Bitcoin (BTC), Ether (ETH) and XRP.
#Bitcoin #Cryptocurrencies Mexican Companies Launch Crypto Donation Platform For People Impacted by COVID-19 https://t.co/N0CofgchOT | https://t.co/9AaTTqXITl pic.twitter.com/cLktIFvoSV — eStream Studios (@eStream_Studios) May 16, 2020
Bitso stated that crypto donations are a very efficient method for crowdfunding. This is due to their decentralized nature and the fact that anyone in the world can participate in the initiative.
Also, the exchange commented:
“Donations through cryptocurrency wallets are easy, fast, and secure. Transactions are reflected in seconds, making it a very transparent method to ensure that your donation was received.”
Thus, several crypto firms launched similar initiatives related to the COVID-19 pandemic crisis across the world.
About Bitso
Bitso is Mexico’s first Bitcoin exchange, offering a platform for trading of Bitcoin with Mexican Peso. The exchange offers the highest level of professionalism and security to Bitcoin trading and can be accessed directly at bitso.com. it operates like a traditional currency exchange with a central limit order book. To know more about the exchange, you can visit the official site here.
About Donadora
Donadora is a Mexican crowdfunding platform through which you can raise funds to support personal or social projects such as health campaigns, emergencies, community, and environmental projects, volunteering, educational models, etc. The term “crowd” is related to “multitude” or “many people”, while “funding” refers to financing. So the term crowdfunding has been born to describe a collective financing model, where many people finance a campaign through small or large contributions. To know more about the platform, you can visit the official site here.
Source: Cointelegraph | Image: Deseret News