Cryptocurrencies are among the riskiest investments in the financial market. As with any business dealing, high-risk assets yield high returns and losses. That is why it's imperative you know what you're getting into before diving into the crypto world. While traders lose hefty sums every day due to market volatility, most inexperienced investors fall victim to crypto scams. These unfortunate incidents are painful because they can be avoided.
It was reported by Reuters that that scammers swindled investors an estimated $1.7 billion in cryptocurrency in 2018. OneCoin is an example of a world global scam that ripped investors off. This has led to some wary investors thinking that the entire idea of blockchain is a scam. Today, that number has grown even more, with the crypto market's capitalization surging past $2 trillion. This article will cover the most common Bitcoin scams today and how you can identify and avoid them.
To understand how scammers operate and the tactics they employ, you need to know how cryptocurrencies work.
Cryptocurrencies are virtual currencies that are based on a technology called blockchain. These currencies are secured by cryptography, hence the name "cryptocurrency."
The blockchain is a public ledger that records and facilitates cryptocurrency transactions. It can also be applied in other real-world use cases such as governance and decentralized finance using smart contracts.
Cryptocurrencies are one of the most secure assets to own as long as you don't give them up.
When you buy a coin, it gets transferred to your digital wallet. If you purchase any token through a centralized crypto exchange, you can withdraw it to an external wallet. Mnemonic phrases are used to protect and recover wallets. Whoever holds them has access to your crypto assets.
In the cryptocurrency market, scamming involves engaging in deceptive schemes or tricks to defraud unsuspecting investors of their crypto assets. Anyone who sends you a message offering to help with issues in your account or telling you about a great giveaway is a scammer meaning you should block them immediately.
Every scammer's goal is to steal. Therefore, all their schemes and maneuvers are designed to fool you into handing over your assets. Since no one can just turn over their funds, these criminals engage in different clever schemes. From impersonation to outright hacking, they are ready to go all the way to siphon crypto assets. Crypto scammers start by sweet-talking unsuspecting investors about once-in-a-lifetime deals and get-rich-quick schemes. Since many already see cryptocurrencies as a fast way to make cash, it's easy to fall into the trap.
Once they are engaged in the conversation, fraudsters gradually get investors to reveal their wallet phrase or log-in details. In other cases, they defraud the investor by convincing them to invest in a scheme or transfer "transaction fees." Some scammers set up sophisticated websites with wallets and a dashboard. They'll show users balances and how their investments grow, full of fake Bitcoin transactions, ROI, and PNL statistics. Unfortunately, any money you send to these sites is likely gone, and sadly, you might only realize it when you decide to withdraw your funds.
The hype around cryptocurrencies isn't dying down despite the sad stories of people losing funds to scammers. That is because stories about massive gains and the crypto boom always dominate the headlines. However, scammers are mostly successful because new investors are quick to buy without doing their due diligence. In addition, fraudsters take advantage of eager crypto enthusiasts who are new to the scene and want to make fast cash.
Crypto scammers also exploit cryptocurrency's decentralization to get away with fraud. Since people can send and receive cryptocurrencies anonymously, investors can't identify who scammed them. That is what makes a cryptocurrency scam very dangerous. Users cannot seek relief or recover their funds since there's no way to track a perpetrator.
Let's cover the common scams that fraudsters still use today to trick people.
ICOs are the most popular fundraising methods for cryptocurrency startups. It's the best way to raise money for a new project with little to no regulation. Short for Initial Coin Offering, an ICO allows an investor to pay a small fee in exchange for a cryptocurrency that's yet to hit the market. Many ICOs are genuine and are run by trusted crypto platforms.
IEOs are conducted on centralized exchanges, while decentralized platforms run IDOs. You should be conversant with these terms as fraudsters may want to use them to confuse you into sending them your tokens. ICOs, or presales as they're often called, are considered investment gold. This is because their ROI can be massive. To keep tokens valuable, ICOs are only open to a limited number of people. Most platforms run lotteries, randomly picking from a large pool of investors. In addition, IEOs and IDOs usually require users to stake other crypto tokens for a period to qualify for the presale event.
Many of the biggest cryptocurrency scams in crypto history were executed through ICOs. Scammers use the prospect of being selected for an ICO to entice and defraud investors.
A well-organized ICO scam can be difficult to detect. This is because fraudsters now take the time to create a convincing front. It's now easier than ever to create scam tokens on blockchains using fake currency names.
However, you can identify scam ICOs if you know what to look for.
Social media is one of the major channels pushing cryptocurrencies to mass adoption. Unfortunately, it's also the main hunting ground for scammers. Intending investors naturally search Twitter, Facebook, Reddit, and Telegram to find out other people's opinions about a cryptocurrency token. Naturally, this drives them to either purchase or ditch the coin.
Scammers create multiple social media accounts and use bots to shape people's opinions about fraudulent crypto schemes. They set up accounts to look like cryptocurrency experts and tell the unsuspecting to send tokens to a particular address. People can even be drawn in by a scammer's comment about a cryptocurrency asset, giveaway, or airdrop under a celebrity's tweet. Cybercriminals also use bots to flood Facebook, Instagram, and YouTube comments section. The bots promote fraudulent cryptocurrencies and other related schemes.
You could receive unsolicited messages about a new coin that will soon be launched. The criminal could come in the guise of a customer support assistant or crypto developer.
Hackers also set up social media accounts to impersonate celebrities and companies to lure people into participating in sham crypto programs. In some cases, they go as far as hacking the real accounts and ask followers for crypto.
According to Guardian, in 2020, a hacker hijacked high-profile Twitter accounts, including Bill Gates's, Apple's, Uber's, and Elon Musk's, and urged followers to send Bitcoin to a particular address.
Fake giveaways are rampant scams for which many investors fall victim. Scammers will offer you something for free but will end up asking you to make a small deposit to claim your rewards. You'll have to send cryptocurrencies first to a given address before they can hand over whatever they are offering. They disappear once you make the transaction.
In some cases, they'll ask for your wallet information or require that you click on a link. The link will ask you to log into your exchange account, input your passphrase, or change your passwords to claim your offer.
Once you send your wallet information or change your exchange account's password, they'll access your account and withdraw your funds. There are different variations of giveaways. They can be sent through your email address, Twitter DM, or Facebook inbox. You can also see announcements in social media comment sections such as Reddit, Discord, Twitter, and Facebook.
Bitcoin mining is one of the lucrative aspects of cryptocurrency. You get to use powerful machines to solve complex mathematical equations to unlock Bitcoin blocks. Each block comes with a number of tokens, which is halved every four years or after every 210,000 blocks. While it's a lucrative business, it's expensive to start up. For example, mining hardware will set you back hundreds to thousands of dollars.
However, to make things easy, some companies set up cloud mining for users who can't afford advanced mining hardware. These users pay a subscription fee to use the company's cloud mining resources. While there are genuine cloud mining companies, hackers often set up their own sites with cheaper subscription rates. They show users fake Bitcoin balances that they can never withdraw.
You should consider avoiding cloud mining in any shape or form, whether it's legit or not. This is because you're better off using your subscription fees to buy actual crypto tokens. In addition, cloud mining these days is a bad investment as you'll likely never get returns that are worth your subscription fees and the time it takes to reach you.
Fraudsters are now sophisticated that they can clone decentralized and centralized exchange websites and use fake URLs. They Typically push these fake exchanges as mobile apps. However, they can also be presented as websites or desktop applications.
It's now easier than ever to start a crypto exchange. With as little as $1,000, fraudsters can set up websites that look like a DEX (decentralized exchange) or CEX (centralized exchange).
Fraudsters who clone sites like Coinexchanage scam their users by using fake balances and Bitcoin replicas. For example, you'll find tokens in your wallet once you sign up. You'll be notified that these funds can only be withdrawn after you've made a deposit.
You could also be offered huge bonuses upon your first deposit, all in a bid to get you to transfer funds to the platform. Once you deposit your money, you'll find that you can't withdraw, trading comes with exorbitant fees, and in severe cases, your account might be blocked almost immediately. Typically, there will be no customer care representative to handle your complaints, and every contact information on the site will be fake.
Scammers also use fake cryptocurrency wallets to steal information and funds. They create sophisticated wallets, especially mobile apps, that can steal sensitive account information. Some of these fake exchange and mobile wallet apps had even made it to the Google Play Store, where thousands of people downloaded them before they were removed.
Pyramid or Ponzi schemes lure new investors by promising them unrealistically high monthly, weekly, and even daily ROIs. These schemes are simple but worryingly effective. There have been many cases where pyramid schemes folded and bankrupted thousands and even millions of people.
Today, it has made its way to crypto. Scammers are now convincing people to invest in such schemes, promising huge Bitcoin and other cryptocurrencies payouts. You'll be approached with the offer, and after depositing your money, you'll get your first ROI from your initial deposits, not interest accrued from the scheme's businesses as advertised. The scammers will continue to pay out ROIs from funds deposited by new investors. The entire scheme relies on new investors bringing in money. Whenever the new cash flow can't sustain ROI payouts, the whole system crashes.
Pyramid schemes are not as sophisticated as their promoters make them out to be. For example, there are no professional cryptocurrency traders trading with your investments and making profits. And the scheme doesn't have a business plan to keep paying ROIs forever. The Trade Coin Club scam is an example of a cryptocurrency Ponzi scheme that relies on new customers to keep paying out ROIs.
The bull season in 2021 saw many cryptocurrencies explode in value. As a result, unsuspecting investors began to flood into the market, buying new cryptocurrencies to catch the next train to prosperity. Hackers exploited this trend and began to create numerous coins without underlying utilities. They leverage the power of social media and the momentum of the bull run to convince and influence people into buying cryptocurrencies without carrying out proper research.
Most of these scammers will then manipulate the price of these coins, showing a good uptrend. Seeing this, investors will pick an interest and start buying these tokens. Once the market cap and value of these tokens begin to increase, other investors flood in. At some point, the scammer will pull the coin's liquidity, leaving investors penniless. Such schemes are called pump and dumps, and they mostly happen on decentralized exchanges such as Uniswap and Pancakeswap.
In most cases, you can't identify the fraudsters behind these tokens since decentralized exchanges don't require any registration process. You just have to connect your wallet, enter the token's smart contract address, and start trading. It doesn't go through the strict listing process required by well-known centralized exchanges.
An example is the Upcoin scam. The token was promoted by a prominent Youtuber who users considered a go-to resource. Unfortunately, he ended up selling off his entire bag, crashing the price of the cryptocurrency.
Fairmoon is another example. A cryptocurrency social media influencer who had taken over control of the project was alleged to have sold hundreds of thousands from the token's liquidity pool, tanking the coin's value by 96%.
Collectively, rugpulls are one of the biggest crypto scams as they wipe out millions of dollars from investor wallets.
Phishing scams have been around long before cryptocurrencies came to the scene. Even cryptocurrency beginners know this type of scam. Fraudsters typically impersonate a company or person, sending emails or messages through chat apps or even using telephone calls to try and extract sensitive information from victims.
Most of the unsolicited emails you receive sound like your exchange informing you about a problem with your account. You are required to reply to the said message with information concerning your account, such as your password or cryptocurrency wallet passphrase.
Many users are pressured to give out this information because they are told that their accounts might be closed, and they might lose all their funds. However, fraudsters employ different phishing attack playbooks. For example, a link might be sent to your email address to download malware to your system. The link could also lead you to a Bitcoin doubler scam site that will ask you to deposit tokens to get double your Bitcoin.
The goal is to send such emails and messages to many random people hoping that one gullible investor will fall victim.
Just like phishing attacks, scammers can send you emails pretending to be hackers with some damaging evidence about your activities. They threaten to send whatever they claim to have found to everyone in your contact list unless you send crypto to an address that will be included in the email. Even if you've engaged in any embarrassing activity, these scammers are constantly lying about access to such evidence. They send these emails to many people at once, hoping to land someone who'll be afraid enough to send tokens.
Sometimes, you might get an email detailing some information about you. These mostly come from fraudulent sites that you might have given some information such as your password hint.
Unfortunately, there's no way to recover stolen funds unless the fraudsters decide to send them back. This is because the funds are now in cryptocurrency wallets that the scammer controls. There’s hardly anyway to help victims of a scam meaning they’ll likely never recover their funds.
Centralized cryptocurrency exchanges enact KYC and AML policies in line with government regulations to curb money laundering and bad financial practices. Cryptocurrency is an appealing target for money launderers due to its lack of regulation and confidentiality. Laundered funds are typically acquired through unlawful business dealings such as scamming, drug and human trafficking, and theft. They are then used to finance diabolical practices such as terrorism.
Consists of various regulatory policies that exchanges must follow to deter and report money laundering practices. These policies include KYC compliance and other measures enacted by regulatory government bodies.
Is a process that every user registering on an exchange must go through to verify their identity. It's an AML procedure of utmost importance because it goes a long way in curbing financial practices that sponsor criminal activities.
KYC AML crypto policies prevent new users from accessing various crypto trading services until they've verified their identity. In addition, exchanges impose trade, deposit, and withdrawal limits.
Firstly, make sure you take your time to learn about crypto hacks and find out everything you can about blockchains. This way, you can easily tell if a company is making things up. The good thing about crypto is that the tech makes sense even though it can seem complex. You can easily identify contradictions, which are serious red flags for any crypto project. Confirm that a company has a customer help desk that you can reach at any time.
Crypto exchanges like Kyrrex.com that comply with strict crypto KYC AML policies can be trusted. However, scammers can also use this as a front but without imposing strict deposit limits like legitimate exchanges.
You should also check for how long the company has been in existence and try to confirm its consumer base.
It's not enough to just head to Google and type "Is life token legit?" You'll likely see fake blog posts hyping the token. Instead, head to its webpage to check out its whitepapers, details, and roadmap. Also, check how long it's been in existence and if it's good enough to be listed on reputable exchanges. Never send crypto funds to anyone, and avoid sending your private keys for any reason. No legitimate giveaway or customer service representative will ask for your money, password, or wallet key.
The cryptocurrency market is a rapidly evolving landscape that offers big opportunities for profit. However, navigating this market can be challenging, particularly for those who are new to the space. In this article, we will explore how you can maximize your profitability in cryptocurrency trading by taking advantage of Kyrrex's wide range of trading opportunities.
Open trades are trades that have not yet been closed. These trades can have a significant impact on profitability, as they represent potential gains or losses. In general, having more open trades can increase profitability, as long as they are managed effectively.
One way to manage open trades is to use stop-loss orders. A stop-loss order is an order that automatically closes a trade when a certain price is reached. By using stop-loss orders, traders can limit their losses and protect their profits.
For example, if a trader buys a coin at $10,000 and sets a stop-loss order at $9,500, the trade will automatically close if the price falls to $9,500. This can help the trader get out of a bad trade before their loss becomes bigger.
Another way to manage open trades is to stay up-to-date with market trends. By staying informed on market trends and using technical analysis, traders can identify potential trading opportunities early and make informed trading decisions.
For example, if a trader notices that the price of a particular cryptocurrency is trending upwards, they may decide to open a long position (i.e. buy the cryptocurrency) with the expectation that the price will continue to rise.
However, it is important to remember that open trades are never risk-free. If the market moves against the trader, they may end up losing money on the trade. To minimize this risk, it is important to use appropriate risk management strategies, such as setting stop-loss orders and diversifying your portfolio. Stop-loss on a winning trade locks in your profits while a diversified portfolio helps to spread risk around.
Trading several cryptocurrencies, instead of just one or a few, is essential for maximizing profitability. By limiting yourself to a small number of cryptocurrencies, you are potentially missing out on gains that could be made by trading in other coins. Additionally, trading more cryptocurrencies can help to minimize risk, as losses in one coin can be offset by gains in another.
Here are some benefits of a diverse cryptocurrency portfolio:
Kyrrex is a leading crypto-fiat platform that offers comprehensive services for individuals and institutional clients alike. With its advanced trading, storage, and payment technologies, Kyrrex is designed to meet the needs of modern cryptocurrency enthusiasts.
One of the main advantages of Kyrrex is its wide range of trading opportunities. Users can access the built-in trading terminal, which allows for seamless transactions in cryptocurrency pairs. Currently, Kyrrex offers a total of 20 currency pairs, including popular options such as AVAX/USDT, ETH/USDT, and XRP/BTC. By offering a diverse range of currency pairs, Kyrrex enables users to trade in a way that best suits their needs and preferences.
The Kyrrex trading platform boasts flexible functionality. Users can easily analyze and track quotes around the clock, select limit and market orders, and enjoy reduced trading commissions. These features make it easy for users to make more trades and analyze market trends, thereby increasing the chances for gains.
In addition to its trading capabilities, Kyrrex offers a comprehensive set of features to help users manage their cryptocurrency assets. With its state-of-the-art storage technologies, Kyrrex ensures the safety and security of user funds. Users can also take advantage of the platform's advanced payment technologies, which enable them to make and receive payments in a variety of currencies.
Maximizing profitability in cryptocurrency trading requires a combination of trading in a wide range of cryptocurrencies and effectively managing open trades. Kyrrex's wide range of trading opportunities, advanced trading tools, low trading fees, and real-time market data make it an ideal platform for those looking to engage with the cryptocurrency market.
Bitcoin (BTC) has emerged as one of the most popular cryptocurrencies in the world, and its value has skyrocketed in recent years. As a result, traders and investors have become increasingly interested in BTCUSDT trading on platforms like TradingView.
TradingView is a popular charting platform that allows users to analyze and trade financial markets. With BTCUSDT trading, traders can track the performance of Bitcoin against Tether (USDT), a stablecoin that is pegged to the US dollar. This pairing is commonly used on crypto exchanges, and TradingView provides comprehensive BTCUSDT charts and indicators for traders to make informed decisions.
BTCUSDT's price action has been volatile, with sharp price swings and fluctuations. However, the overall trend for BTC has been bullish, with the cryptocurrency hitting all-time highs in recent years. TradingView's BTCUSDT charts provide traders with the ability to track BTC's price movements in real-time, as well as view historical price data.
Technical analysis is a popular method for traders to analyze financial markets, and BTCUSDT trading is no exception. TradingView provides a wide range of technical indicators and charting tools to help traders analyze BTC's performance.
One popular indicator used in BTCUSDT trading is the Moving Average Convergence Divergence (MACD) indicator. This indicator can help traders identify trend reversals, as well as potential entry and exit points. Additionally, traders can use other technical indicators like Relative Strength Index (RSI), Bollinger Bands, and Fibonacci retracement levels to gain further insight into BTC's price action.
In addition to technical analysis, fundamental analysis is also important in BTCUSDT trading. Fundamental analysis involves analyzing the underlying factors that affect BTC's price, such as adoption rates, regulatory changes, and economic events.
TradingView provides traders with access to news feeds and economic calendars, which can help traders stay up-to-date on the latest developments that may affect BTC's price. Additionally, traders can use TradingView's social networking features to discuss and share information with other traders and investors.
BTCUSDT trading on TradingView offers traders a comprehensive set of tools and indicators to analyze Bitcoin's performance. With both technical and fundamental analysis options available, traders can make informed decisions about when to enter and exit the market. However, as with any financial market, BTCUSDT trading carries risks and traders should exercise caution and conduct their own research before making any investment decisions.
There are two sides to everything, though humans tend to focus on one side of the coin. The latest weapons can help through deterrence, not just destruction. Artificial intelligence is an incredibly useful tool despite its dangers. And cryptocurrency, just like everything else, can be a force for good in the world.
Crypto is about PnLs, market and limit orders, DeFi and staking, coin offerings and L1s. It is also about borderless payments which can facilitate goodwill donations by anyone from anywhere to any organization that works towards a noble cause.
The philanthropic space, just like health, finance and sports, has realized the benefits of adopting crypto. Some of the best known global and regional charities have created channels for crypto donations.
Bitcoin, Ethereum and stables like USDT are the most popular coins supported by charities accepting crypto. Depending on the type of crypto charity, other popular digital coins like Dogecoin, Monero, Bitcoin Cash and Litecoin may also be accepted.
So if you're moved to reserve some of your cryptocurrency holdings or trading gains for a worthy cause, there are lots of charity crypto projects that would be happy to receive your donation
These crypto-affiliated charities vary by mission. Some are dedicated to helping oppressed peoples in war-torn areas like Ukraine to stand up to the aggressors. Others utilize blockchain technology to support next-gen ideas and technology like effective altruism and AI.
These organizations all have noble goals and have thrived through the benevolence of citizens who use some of their crypto for charity. This article presents 5 reliable and dependable crypto charity projects. So if you're looking for charities that accept crypto, you've come to the right place.
The Electronic Freedom Foundation (EFF) is a U.S. 501(c)(3) nonprofit that has a mission to defend civil liberties and human rights both online and offline, but especially online. It supports outreach and legislation that protect digital rights and provides funding for projects that promote the rights of the individual to free expression in the digital space.
The EFF sees increased legislation and user restrictions in the digital age as a wall that stifles creativity and infringes on the rights to liberty. Thus, it campaigns hard against moves that seek to restrict people's rights and freedoms, especially online. The organization has a long and proud history of canvassing change and is one of the best charity crypto projects around. It accepts Bitcoin, Bitcoin Cash and Ethereum from individual donors and you can also elect to receive some cool swag if you donate at least $100.
The start of the war in Ukraine has led to a groundswell of governmental, institutional and individual support for the beleaguered country which continues to maintain its independence in the face of overwhelming odds. The Kyrrex Charity is the social arm of Kyrrex, a regulated crypto-fiat ecosystem. Its goal is to work towards the war's end and victory for Ukraine by supporting the country's civilians, volunteers and defenders through financial aid.
The foundation organizes charity events and fundraisers all over the western world to raise money which it then distributes to various agencies across Ukraine.
Because of the difficulties caused by the war, crypto donations to Ukraine is one of the best ways to get money across to those who need it on the ground. That is why the Kyrrex Charity's main vehicle is a crypto charity fund. Benevolent individuals and organizations can directly donate Bitcoin, Ether and USDT through the foundation's Ukraine crypto donations wallets and be rest assured the money will be used for a worthy cause.
So if you have excess coins gathering dust in your wallet or cold storage and wondering how to donate crypto to Ukraine, you can send your coins to a Kyrrex Charity wallet and sleep easy knowing you've just done a great deed for humankind.
Unicef, or the United Nations Children Fund, works in 190 countries across six continents to help children overcome developmental and geographical challenges and achieve their full potential from early childhood to adolescence. It's long been one of the most visible agencies of the UN and its impact has been felt in every corner of the globe for decades.
In 2019, UNICEF launched a crypto fund to simplify fundraising and grants distribution and reach their networks of donors and beneficiaries faster than the complicated web of traditional finance would allow. Donors can send BTC and ETH directly to the UNICEF CryptoFund. To date, the fund has received 8 BTC and 2527 ETH which is distributed to open-source frontier tech solutions showing promising results.
All donations made by the funds are done in BTC and ETH only and capped to $100k. Through this scheme, UNICEF has invested 52 ETH in a digital cash and voucher transfer platform in Nigeria, 43.5 ETH in a platform for digital healthcare savings in DR Congo, and 21 ETH in a tool for visual eye tests to detect vision disorders among children in the UAE.
Would you like more control and flexibility over your charity crypto donations? Then you can check out The Giving Block. This donations service is like a crypto charity marketplace that allows you to give crypto to a nonprofit, charity, university, faith organization, environmental NGO or any other mission-driven agency of your choice.
The Giving Block emphasizes choice and flexibility. Donors are free to choose any of the 100+ organizations that accept crypto donations through the service. You can use their search tool to filter available organizations. For example, a "crypto donations Ukraine" search brings up the Ukrainian American Coordinating Council, the US-Ukraine Foundation and similar organizations. You can also switch to "Impact index funds" and donate crypto to a particular cause, such as the war in Ukraine, women and girls empowerment, or arts and culture.
Another big draw of The Giving Block is the versatility provided for those who use the platform to donate crypto to charity. Most blockchain-positive philanthropic platforms support just a few cryptocurrencies. But on The Giving Block, you have your pick of more than 70 crypto options to donate with such BTC, ETH, USDC, USDT, DAI, MAKER, AVAX, SOL, and many more.
Tor, or The Onion Router, is the free and open-source browser that enables anonymous communication through a network of volunteer nodes spread across the world. The Tor project and its browser allow users to bypass censorship and restrictions on internet usage. It generates a semblance of digital privacy and independence in an environment rife with governmental policy.
The Tor Project accepts donations in crypto and other avenues to keep the Tor network running and protected against intrusion by global institutions and governments. Tor accepts crypto donations in 9 currencies including Bitcoin, Ethereum, Dogecoin, Augur, Dash, Litecoin, Monero, Stellar Lumen, and ZCash.
If you'd love to donate crypto to charity, you can try one of the organizations on this list or another one that accepts digital currencies. You can donate your crypto directly—no need to convert into a stablecoin or fiat money first. Moreover, if you have a stablecoin in your portfolio, you can donate that. The price of a stable fluctuates less compared to traditional cryptocurrencies, which can benefit the charity of your choice more than a volatile coin would.
Making donations to a charity actually helps fulfill one of the founding principles of cryptocurrencies—anonymity. By donating through crypto, you show that you truly care about a cause and aren't donating just to look good in the news or on social media.