Day 6 of the 12 Days of Coinbase program is dedicated to a humanitarian cause and solving income problems with digital currencies.
The US-based cryptocurrency exchange gifted $10,000 in BTC to GiveCrypto.com for a project that provides a basic income to over 150 Syrian refugees living in Greece.
Helping Those in Need with Crypto
In a blog post highlighting its step, Coinbase noted:
“Cryptocurrencies provide the easiest and most accessible way to give money directly to those in need. With GiveCrypto.org’s innovative approach, recipients can actually turn around and use crypto to buy what they need — immediately, without fees and delays.”
The donation allows GiveCrypto.org and partner Sempo to expand its model that has already supported 5 Syrian families in Beirut and 15 Yazidi families in Kurdistan.
Several organizations are helping the refugee communities, but they may not have access to financial institutions where donations could be received and stored.
Additionally, fees eat up a portion of the cash aid received by the community.
Sempo works with Givecrypto.org to establish local vendor relationships with those who are willing to accept cryptocurrency as payments for good or exchange cash for crypto.
The vendor is paid via a program recipient’s wallet.
The vendor can request to exchange the cryptocurrency for fiat.
Crypto, thus, acts as a bridge, ensuring recipients can use their donations quickly.
Encouraging Uses to Donate
Coinbase talked about the steps taken by GiveCrypto to help refugee families.
It is planning to support even more refugee families living in Greece.
Coinbase asked its users to join it in supporting their cause.
The 12 Days of Coinbase Program reached midway point yesterday this latest announcement.
The exchange will be making six more announcements till December 21st.
Previous announcements have included e-gift cards and the ability for users to withdraw funds directly from Coinbase to a PayPal account without paying a fee.
Coinbase Announces $10,000 Bitcoin Donation to Syrian Refugees in Greece was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.