Recently, the National Council of Nonprofits urged on their website not to leave the donors hanging without any option of not donating cryptocurrency.
According to Yahoo Life, around 1,300 nonprofits accept crypto donations nationally and the number is still growing. Last year, a platform named The Giving Block nurtures such contributions reported total donations of more than $69 million, a massive 1,558% jump from the previous one.
Keeping in mind the trends, most of the non-profits in North Carolina have taken a drop. Through one of the donation platforms Engiven, Pisgah Legal Services began taking Bitcoin, Ethereum, and other cryptos.
The crypto market is extremely volatile as the currencies are not backed by any physical assets in most cases though the market valuation of cryptocurrency has touched $2trillion more than once.
cryptocurrency is the digital currency but without any government interference rather it is on a decentralized online system to record.
the volatility of the crypto market is the main concern of the Pisgah Legal Officials when debating whether to accept such gifts.
Till now, the nonprofit has not accepted any crypto donations which Development Director Ally Wilson thinks is a little bit surprising in the digital national conversation.