The last couple of months opened up the gates to several platforms into the crypto-verse. Prominent messaging application, Signal is the latest firm to induce crypto into its system.
The price of Bitcoin [BTC] and an array of other coins were seen bagging massive gains. BTC even surged to a high of $61K. While the asset managed to garner shelter from several platforms, Signal revealed that it had started to accept crypto as donations.
Signal To Accept BTC Donations
The Signal application was rolled out in 2018 and amassed immense fame after WhatsApp users began encountering privacy-related issues. Now, Signal Technology Foundation, a nonprofit platform working under the messaging application has decided to accept donations in cryptocurrencies.
In a recent tweet, the app announced that the platform has begun receiving crypto. The tweet read,
Twelve prominent cryptocurrencies were accepted as donations by Signal. This list entailed, Bitcoin [BTC], Litecoin [LTC], Bitcoin Cash [BCH], Ethereum [ETH], Chainlink [LINK], Basic Attention Token [BAT], Gemini Dollar [GUSD] as well as Zcash [ZEC].
This latest initiative would reportedly be aided by The Giving Block, the prominent crypto donations portal.
The platform further read,
“If you want to receive a tax deduction in the US for the fair market value of your cryptocurrency donation, you can optionally provide an email address to receive a tax receipt. The Giving Block also supports anonymous donations.”
This messaging app isn’t the first platform to accept crypto for donations. The United Nations [UN], particularly the United Nations Children’s Fund [UNICEF] had been taking donations in crypto for quite a while now. The agency set up the CryptoFund back in 2019, to spruce up its presence in the digital world. UNICEF’s press release stated,
“The CryptoFund is a pooled fund of bitcoin and ether. It is a part of UNICEF’s Innovation Fund, with the distinction that investments made through the CryptoFund are denominated in crypto.”