Binance Charity’s Survey Reveals Rising Crypto-Based Donations

Key results from a poll done in honor of the International Day of Charity were today released by Binance Charity, the charitable arm of the top global blockchain ecosystem Binance. In order to provide useful insights that will direct Binance Charity’s future initiatives and more closely correlate with public sentiment on philanthropy, the survey, which aims to understand the changing landscape of charitable giving, depends on remarks from 1126 people, including both Binance users and the general public.

Important Findings from the Survey

Despite the continued popularity of conventional donation methods including cash, checks, and credit cards (43% of choices), the poll reveals a rising demand for blockchain-based charity donations. A considerable 32% of respondents said they prefer to give using cryptocurrencies, showing the growing importance of digital assets in philanthropy.

The poll reveals a strong foundation of cryptocurrency-based charity already in place. While the majority of respondents (71%) have never donated using cryptocurrencies for charity, 29% have previously done so, highlighting the growing popularity of cryptocurrencies in philanthropy.

Three key benefits of blockchain technology were mentioned by respondents when asked why cryptocurrencies are becoming more popular. An astounding 37% complimented it for being able to provide openness, and 32% applauded it for being effective and efficient. Another 28% identify blockchain’s exceptional capacity to improve accountability via verifiable recipient-to-donor traceability.

The most important elements affecting people’s choices when selecting a charity to help were revealed via a study conducted by Binance Charity:

• Integrity and responsibility: This criterion stands out as a non-negotiable for 27% of the respondents, highlighting the importance of ethics and transparent reporting in gaining the confidence of donors.
• The actual cause: Nearly 26% of participants are inspired to take action by the charity’s unique aim, demonstrating the potency of a well-articulated goal.
• Impactfulness: An extra 18% of respondents pay attention to the quantifiable effect a charity has had, showing that in the era of data-driven choices, tangible outcomes matter.

The survey’s analysis of the fields that reflect the public’s selection of a charity cause reveals the following preferences:

• Humanitarian assistance According to 22% of respondents, immediate assistance in times of need is crucial.
• Education: 20% of respondents point to a shared desire to advance society via education.
• Health: Nearly as important as schooling, 19% of respondents expressed a general concern for wellbeing.

The study also looks at the public’s involvement in charity causes. 51% of respondents say they participate when their schedules and resources allow them to. Impressively, 20% of participants said they are devoted philanthropists who actively look for chances to have a significant influence.

How Binance Charity Promotes Global Harmony

A growing trend in the use of cryptocurrencies for charity is confirmed by the study done by Binance Charity, which offers insightful information about the landscape of charitable giving. These results have a direct effect on the current worldwide impact-focused projects of Binance Charity. Binance Charity continues to use blockchain technology to improve charity, transforming anything from immediate rescue operations to educational projects and health programs.

Binance introduced the first-of-its-kind Binance Refugee Card to provide a quick, affordable, and secure means of sending cash to individuals in need. Binance also contributed $10 million in crypto towards disaster assistance in Ukraine. Additionally, Binance provided $5 million in direct aid to Turkey earthquake victims.

Over 57,000 alumni have participated in Binance Charity’s educational programs, which are funded by Binance Academy and are carried out in collaboration with prestigious academic and professional organizations including Women in Tech and Utiva. In order to close the gender gap that still exists in the sector, the program involves tech and blockchain scholarships with a primary emphasis on women.

Additionally, the “Crypto Against COVID” campaign of Binance Charity contributed $5.7 million in cryptocurrency for healthcare, enabling the delivery of 500,000 vaccinations and over 2 million PPE pieces internationally.

By enabling non-profit organizations all across the globe to receive cryptocurrency payments via Binance Pay or any DeFi wallet, Binance Charity is also setting the standard for cryptocurrency-based philanthropy.

Read the 2022 Annual Report to find out more about how Binance Charity is creating a world where Web3 technology is a force for good.