UNICEF France Now Accepts Donations in Bitcoin (BTC) and Other Major Cryptos

  • UNICEF France is now accepting donations in nine major cryptocurrencies.
  • Mosques and various other charitable organizations have started accepting crypto donations.

The United Nations Children’s Fund (UNICEF) has reportedly starting accepting donations in nine major digital currencies including Bitcoin (BTC) and Bitcoin Cash (BCH). At present, only UNICEF’s office in France is accepting crypto donations.

Nine Major Cryptocurrencies Accepted

In addition to BTC and BCH, UNICEF’s French office is accepting Ethereum (ETH), Ripple (XRP), Stellar (XLM), Monero (XMR), Litecoin (LTC), Dash, and EOS. People who want to donate cryptocurrency to UNICEF France can do so by visiting their website.

Sébastien Lyon, the executive director at UNICEF France, commented on the organization’s announcement by noting:

Cryptocurrency and blockchain technology used for charitable purposes offer a new opportunity to appeal to the generosity of the public and continue to develop our operations with children in the countries of intervention.

Sébastien Lyon

Lyon also mentioned that cryptocurrencies and their underlying technology offer an innovative way to raise funds for various social causes, however, there are currently not many organizations that are harnessing their benefits.

The French UNICEF head acknowledged that there are a few communities which have started the positive trend of accepting charitable donations in cryptocurrencies. In May, the Shacklewell Lane mosque in East London announced it would accept charity in cryptocurrency.

Notably, this is not the first time that UNICEF has introduced a crypto-related initiative. In February, the New York-based humanitarian organization started a fundraising effort to help children in Syria, which has been embroiled in a violent civil war since 2011.

"Game Chaingers", "The HopePage"

UNICEF’s fundraising campaign was called “Game Chaingers” and aimed to get online video game players involved in an effort to help children suffering in Syria. In order to participate in the charitable initiative, users had to download a crypto mining app from UNICEF’s official website.

After installing the app, the users’ computing resources were used to mine Ethereum’s native token, Ether (ETH) - which went towards offering developmental assistance to children in Syria. The Game Chaingers program managed to raise 85 ETH, an amount valued at nearly $21,000 according to CryptoCompare data.

In May, UNICEF’s office in Australia began its own crypto fundraising effort by launching a website called “The HopePage.” People who visit the website can donate their computing resources in order to mine cryptocurrencies. The digital currency generated from mining is then used to help the citizens of underdeveloped countries.

Bitcoin's Usage Is Growing Faster Than Its Price According to Research Indicator

Bitcoin price hit an all-time high in December of 2017, as it briefly broke $20,000. Since then a year-long bear market saw it lose over 80% of its value, but in recent months it’s been recovering. A real-world usage indicator suggests the bitcoin price may be undervalued compared to its growing usage.

Since the recovery started, bitcoin’s usage has seemingly been growing more than its price – a trend we saw back in 2017, a year in which the cryptocurrency surged 1,400%.

According to Thomas Lee, the co-founder of independent research boutique Fundstrat Global Advisors, certain events have “confirmed” the cryptocurrency bear market is now over. Factors including improving fundamentals, the market’s reactions to negative news, and increasing trading volumes point that way.

Since the market has seemingly turned around, traders and investors are now looking at the market to look for indicators that may help them navigate the next cycle, and there’s no shortage of theories.

While some take a bearish stance and believe the recent recovery is a dead cat bounce that’ll see us keep on dropping, others are pointing upwards. Billionaire investor Mike Novogratz revealed he believes it’ll consolidate between $7,000 and $10,000.

Fundamentals, such as Bitcoin’s mining difficulty reaching an all-time high as miners show renewed confidence, are most important, while others look at charts to analyze what they can get from historic patterns.

One indicator that’s often overlooked is how people are using the flagship cryptocurrency, and its economic activity. DataLight Laboratory has recently launched a Real Usage Index, which measures how blockchains are used by calculating the number of active addresses and multiplying it by the number of transactions.

The Real Usage Index seemingly shows that so far this year, activity on the Bitcoin blockchain has grown more than the cryptocurrency’s price – just like it did in 2017. In fact, the index is approaching November 2017 values, when BTC started surging to its $20,000 all-time high.

This essentially means that while BTC’s price has seen a significant rise so far this year, it hasn’t been able to keep up with actual usage metrics suggesting that the bitcoin price may be undervalued. The cryptocurrency ecosystem’s bull run in 2017 could, however, have been an exception.

Any analyst will make it clear that past events aren’t indicative of future performance, and that no indicator is bulletproof. However, the index is a handy tool for traders and investors to gauge how active a blockchain really is, looking beyond the hype on social media.