Mexican companies launch Crypto Donation platform for people affected by COVID-19

Crypto-exchange of Mexico has launched an initiative to collect donations related to COVID-19 through cryptocurrencies.

The Mexican cryptocurrency exchange Bitso has partnered with the crowdfunding platform Donadora to launch a donation system based on cryptography. The platform will raise funds to buy food for the most vulnerable families affected by the COVID-19 crisis.

According to a report published on May 15 by El Heraldo de México, each purchase delivered is worth 150 Mexican pesos. You will have enough food to feed families of four to six members for a week.

Gift options include fiat currencies as well as various cryptocurrencies such as Bitcoin (BTC), Ether (ETH) and XRP.

Crypto donations are becoming increasingly popular as a crowdfunding method
The local exchange said crypto donations are a very effective method of crowdfunding. This is due to their decentralized nature and the fact that everyone in the world can participate in the initiative.

Bitso posted the following comments after the announcement:

“Giving with a cryptocurrency wallet is easy, fast and secure. Transactions are shown in seconds. This is a very transparent way to make sure your gift is received.”

COVID 19 initiatives continue to emerge in the crypto space
Cointelegraph reported another crypto-crowdfunding campaign launched in April by the Italian Red Cross. The campaign aimed to build a high-level medical post to combat COVID-19 in Italy. This company raised $ 10,000 in four weeks.

Several crypto companies such as Binance, BitMEX and the Star Foundation have launched similar initiatives worldwide related to the COVID-19 pandemic.