Topic: Have you seen where Bitcoin is used to make donations in fundraising? (Read 225 times)

E dey happen low key but you no know, the end sars protest wey cause wahala the country, you dun forget say na Bitcoin donations na wetin trigger the vexation of the governments the last time and all the occasions wey dey happen for the country involving cryptocurrency enthusiast, you think say Bitcoin and other crypto don't get donated. Wetin you go talk na say e no dey very common but no talk say e no dey happen because the last birthday way I go of a friend, na Bitcoin and stablecoin na wetin people been den donate to the guy and if you take about fundraising, we get some startup wey dey rise and fail for the country wey dey get support through Bitcoin/altcoins.


Education is the key, many people aren't informed correctly and they need our help so make we dey, on our own give back to the society through enlightenment. Make we dey hold small seminars for our areas they teach people about bitcoin as e go help them dey stay ahead of scammers wey full the industry. Small donations mightn't have an impact as people fit sell go chop as you no go fit dey hodl free gift wey be money when hunger dey catch you but knowledge wey people get, dem go use am wisely and e fit dey help adoption of Bitcoin for the country.

When we talk about this Bitcoin sometimes the way it is mentioned so common and taken so common in some write up I start thinking if there is another Bitcoin mining for those who did not meet up initially am confused please this Bitcoin discussion should have it's standard, make some new comers no read dey confused

Now talking about Bitcoin for fund raising, Dem say dorime no be for civil servants. Bitcoin is running in a flash now some people 1 BTC na their net worth. Even though it should be, no be Nigeria here wey government and EFCC dey worry any how.

What's the point of using your Bitcoin to reward folks who have no interest in keeping it? Who will only change it back to Naira? Please do not do it unless the individual is willing to hold for an extended period of time; this is a competition, and everyone wants to be paid after the game. Printing banners and raising awareness is enough; stop giving your Bitcoin to those who don't understand its value.

Having the desire to give donations, gifting or paying for something bought with Bitcoin, is definitely a way to increase it's adoption in Nigeria, even if the recipients don't accept the Bitcoin, atleast they will hear about it, that it is a decentralized digital cash. And one of the reasons why people might not be willing to accept Bitcoin, is because of their lack of knowledge of it, a lot of them don't even have wallet addresses to receive it, few that have wallet addresses might be discouraged to accept it, if they want to remit it or spend it immediately, when transaction fees is very high, they will prefer to collect Bitcoin, only if they want to hodl it for long.

Talking about ways in which Bitcoin adoption can be influenced should also include the impact social media platforms has made as well as creative projects, all geared towards making Bitcoin more known and used.

I am yet to see Bitcoin being accepted as donations during fundraising or ceremonies where cash gifts are given, but I have seen a movie called 'Lupin", where it was used to accept donations during a fundraiser for a children's orphanage program and it went so well that I would like something of such to be replicated in real life scenario for a special event that may require cash gifts.

Yes I believe. Personally I have done some privately and I'm just saying it for the very first time...... I hosted a football Competition in my local community and award the first team that won the Competition payments with Bitcoin. It was actually last year December. ( $100 ) the rest was made with Naira.

Secondly, I made payments with Bitcoin to someone for my sister's to learn about copy trading.

I have plans to buy, Shawarma for some kiddo's too in my hood with Bitcoin and I believe they'll forever get that stucked in them heads. ( I feel like it's a way for them to see Bitcoin as a means of payment is fast and efficient. They may not understand but as they grow they'll have a vivid picture of it in them heads. )
 It's my own little ways of giving back to the community. I have plans for making that football a bigger one, maybe when done I will definitely share pictures for Forum users to see.  

You've spoken well like someone who means well for Bitcoin. But let me start by saying that Bitcoin has its issues even as it has its own advantages, and yes, it is being used for donations and fundraising, except that Bitcoin is digital, so introducing it in a traditional donation will only cost the person money because many donors/philanthropist may not even know Bitcoin, while others that know it may not have access to it not to mention of giving you the money in Bitcoin.

Fine, if the person planned it in such a way that Bitcoin is an alternative here, then it is a very good way to go about it. But the person should also know that it is the risk he is taking. You can imagine if people donated $100,000 worth of Bitcoin to you, and in the next 30 days, due to the sharp drop in the price of Bitcoin, the worth now moves to $89,500, for example, it is surely a disadvantage. This could be in the favour of the person as well if Bitcoin rises, but an asset that is fluctuating that much is risky for a serious donation.

Regardless, many online fundraising channels are now accepting Bitcoin and other cryptocurrencies, but I know that patronage can't be much when more stable fiat is still accessible. However, if it is online and the person has a reasonable converting means as soon as the Bitcoin is received, I think it is a very good option, especially if it is a global donation, so as to give people wider freedom and accessibility to choose their payment system and for the donation to be seamless.

But still, making Bitcoin an option while there are other active means to receive the donation is the best way out.

Since when I start this cryptocurrency journey I never heard or see any fundsraising (donation) here or outside. And it happened in one of our brother who died years bank before I came so I don't know if it was bitcoin or in naira is in usdt. And I believed most people would donate with usdt. A senior man in dis place don gave me NGN20k as usdt before. So if it happens in this our forum which we know ourselves and there is celebrate to donate, we go donate for all the useful currencies in the world. Bitcoin those what like to donate with am. Usdt, and in naira. Personally I no like dollar because nai be out problem in the country.

In addition another thing wey go make people not to donate with bitcoin na because the transaction fee is high and there is now you go make transaction with bitcoin wey you no go pay for transaction fee but coins like usdt you no go pay transaction fee because if you dey send from exchange to exchange and that to be internal transaction. Then another one is naira, if you dey make transaction with local banks then there is no transaction fee and that is why people like to use others currencies for donations.

I have been looking at like this comment on this thread and thank god I fund your own, which country bitcoin go promote? For Nigeria or there is another country that we are talking about? Nigeria that doesn’t want anything about the cryptocurrency or Nigeria that doesn’t want the country to promote, I don’t even think they will count Nigerian among the countries that want their country to promote with some technology things and cryptocurrency process, because if the government even has a chance they will have ban every movement of Nigeria just to stop them from doing what they do to survive, bitcoin can never promote unless if those our leaders died and the new fresh blood with the heart of youths becomes the government.

And about the donation of bitcoin, I think it will be possible, some people can do it but it will be those who have been holding bitcoin for a long time and those have the bitcoin to give, did we even know how much the person who own the ceremony will earn if he change the bitcoin to a fiat currency, and with this kind of operation that government is doing will affect those that do the donation because the way government is working now it’s look like they don’t want to even see people spreading money anyhow during any ceremony.

If in an event the host invites his fellow bitcoin investors to the program of course they could be possibilities of donations of funds with bitcoin.  That's literally because they knows each other and are familiar with the digital financial system.
Imagine asking a bitcoin novice to have you his wallet so that you can make your donation with bitcoin, I guess it'd sound odd to him.
However, I've been in several events such as birthdays and marriage weddings were committee of friends in the ceremony raised funds for their host using bitcoin.

While considering using bitcoin for fund raising, let's also consider the purpose for the raise of funds because of it's one which the beneficial needed it to execute an emergency need then it could be risk due to the volatility of bitcoin which it could reduce in value and such huge donated fund would be depreciated. Luckily for the beneficial a little amount of donated bitcoin could also appreciate higher in value at when ready to use the fund.
The advantage and disadvantage is clear but considering the disadvantage side should be more considered

I think using Bitcoin in an event for fundraising isn't necessary and it won't even make the government change their mind and just like what they have replied above. What if the people you want to donate to doesn't know much about Bitcoin and what if they are not a fan of it. And since it hasn't been accepted I think it will be very risky cause if you are been caught the government will  unleash what they have mind however, the idea of using Bitcoin as a fundraising to me I don't too like it becuase apart from been caught by the government, you may also put your account in a very big risk ( exposing it to the public) cause you don't know the kind people that are present in the event cause your account can get hacked or traced by using it to donate in the event.

Yes, it will impact d adoption of BTC in Nigeria but BTC is b banned from d country and it will b difficult for people to donate BTC in any events to encourage other people to start showing interest on BTC investment, because is not allow to use as donation in d country.

Even though BTC is allow to use in d country, I will prefer to use fiat money to donate in any occasion, than to continue hodling my BTC till d bull run occur before I can trade to make money to replace d donation I made with fiat money.

 Since BTC users in Nigeria are very wise,u will never seen BTC users using BTC as a donation in any events op, because dey are hiding themselves not to involve in police  or EFCC issues in d country.

Yes, you are absolutely correct and that is why we won't even know who is into crypto and who is not because of the way our government are doing things and news fly, before you know, you are online, EFCC don come find person come, so everyone who is into crypto are always on a low key as you said and I like being like that, to avoid attention etc.

I like one of the points that you made about reasons why it is not common to see people announcing their Bitcoin in the public, it is because they like to remain on the low key, inorder not to attract attentions to themselves as Bitcoin hodlers. Another reason is that Bitcoin hodlers feel that our government is not Bitcoin friendly, and they don't want that attention to themselves, so they will rather convert the Bitcoin to fiat and make their donations. If our government can have a friendly approach to Bitcoin, it will encourage more people to identify with Bitcoin, in the open, and will help to drive the adoption in Nigeria.

Wetin go first lead to the more adoption of bitcoin for the country no be donations of bitcoin in events nah the government giving free hands for bitcoin to exist in the country for people wey they interest in it's usage to use am, na from there the adoption go loud. If government no gree give that allowance how donation want take happen inside the country ?

One of many things I love about Nigerians is that whatever positive thing they've put in their mind to do, they do it with all their might, regardless. Just imagine the rate of bitcoin adoption in the African continent Nigeria is in the vanguard of adopters despite how problematic their government seems to act about anything cryptocurrency. How much more when we come get crypto-friendly-government everywhere go just stew with crypto as Naija go even use am beyond just donations for event.

Anytime I hear promote adoption of Bitcoin transaction for Nigeria I go just dey laff.Make we remember say Nigeria follow the countries wey dey promote Bitcoin and cryptocurrency transactions abi na which kind adoption we dey find,or I guess maybe when all the citizens don dey use Bitcoin like fiat for day to day payment nai de adoption go complete lolz.The whole thing about Bitcoin be say every enthusiasts suppose maintain their privacy,we know say e good to donate fund to support someone but not in BTC,any amount you wan donate just convert your coin to other asset wey de government don authorize as a legal tender,the thing be say na to maintain low-key for Naija as a Bitcoin enthusiast because the government no dey friendly with Bitcoin and cryptocurrency transaction.

you can't make donation in Bitcoin in a fund raising event where you're not sure if the people that are in the place are conversant with Bitcoin. If you're following up on what's going happening on social media, you will know that some people don't even kno what on Bitcoin is. If your for instance tell some people that you're donating 0.002 Bitcoin, some would take you as a jocker without knowing that you've made a good donation.

What's necessary to know before thinking on making your donation with Bitcoin or fist is to first of all try to know the kind of people that are in that seeting. If you have Bitcoin enthusiast as majority of people that are in such event, then it's reasonable to talk abiut uding Bitcoin fur duch donation otherwise, its not necessarily. When it comes to spending, fiat ys mostly the preferable option.

The main issue is the low adoption of the Bitcoin LN and how difficult it is to create a channel with AfricaFreeRoutining; we had the first Bitcoin Lightening nodes in Lagos last year, so it's not really a thing here yet, and no fundraising organiser will go through the stress of opening a LN channel for donations. And, by the way, Bitcoin is not intended for public donations; I will never donate Bitcoin; instead, I will donate in cash.

Bitcoin gifting, airdrops, and giveaways have played a significant part in Nigerian Bitcoin adoption, and this is not even debatable.

That such donations are not made public, it doesn't mean such isn't going on by Bitcoin enthusiast all around the nocks and cranny of our country. However, for me I think the reason why these have not been made public is simply because these people just want to maintain privacy. Or unless such are meant for charitable donations aimed at saving lives and property, just like in the case of Russia vs Ukraine war, of which over a billion dollars was donated in Bitcoin.

Apart from donations, Giveaway is another thing that can drive a lot of people into getting interested with Bitcoin, because taking myself for example, I can't recall how many times I won a Giveaway from "Remitano" Facebook monthly contest while I was still starting my crypto journey, and that motivated me, wanting to know more, so as to win next contest.

No doubt say people dey keep bitcoin for investment and it is difficult to just be sending it out like that. But some times wey people wey dey for wedding dey call MC come close and whisper to their eyes during spraying of money, wetin we think say them dey talk   just thinking aloud anyway. But on a serious note, it is possible if the celebrant and the friends dey run btc package. Is it not to quantify how much you want spray or dash the person, you fit just do am for btc fraction.


But whether adoption or not people dey use bitcoin conveniently whether business accept it or not. If we dey wait for government to announce it adoption for bitcoin, then we go wait for eternity. Those wey dey show love still dey show on code but you no go know. However, maybe no be really to send love one btc because people see am as investment and nobody likes to be taking out of their investment for frivolities but if e happen say na serious matter, you go put hand for the investment take solve the problem.