Day 6 of the 12 Days of Coinbase program is dedicated to a humanitarian cause and solving income problems with digital currencies.
The US-based cryptocurrency exchange gifted $10,000 in BTC to GiveCrypto.com for a project that provides a basic income to over 150 Syrian refugees living in Greece.
Helping Those in Need with Crypto
In a blog post highlighting its step, Coinbase noted:
“Cryptocurrencies provide the easiest and most accessible way to give money directly to those in need. With GiveCrypto.org’s innovative approach, recipients can actually turn around and use crypto to buy what they need — immediately, without fees and delays.”
The donation allows GiveCrypto.org and partner Sempo to expand its model that has already supported 5 Syrian families in Beirut and 15 Yazidi families in Kurdistan.
Several organizations are helping the refugee communities, but they may not have access to financial institutions where donations could be received and stored.
Additionally, fees eat up a portion of the cash aid received by the community.
Sempo works with Givecrypto.org to establish local vendor relationships with those who are willing to accept cryptocurrency as payments for good or exchange cash for crypto.
The vendor is paid via a program recipient’s wallet.
The vendor can request to exchange the cryptocurrency for fiat.
Crypto, thus, acts as a bridge, ensuring recipients can use their donations quickly.
Encouraging Uses to Donate
Coinbase talked about the steps taken by GiveCrypto to help refugee families.
It is planning to support even more refugee families living in Greece.
Coinbase asked its users to join it in supporting their cause.
The 12 Days of Coinbase Timeline
Day 1- WeGift e-Cards:
Users can now spend their crypto balances to buy e-gift cards from WeGift which can be redeemed on Uber, Nike, GAP, and more.
Day 2- Zcash Donation to Venezuelan families:
The exchange made $10,000 worth of donations in Zcash via GiveCrypto which will be used to provide support to Venezuelan families.
Day 3- Cryptocurrency: The future of finance and money (Video):
Coinbase talked about the power and flaws of money, talking about its vision of cryptocurrency as a means of economic freedom and democratization.
Day 4- New Watchlist feature:
Users will now be able to add digital assets to their watchlist with the click of a button. Even assets that are not listed on Coinbase will be available on the watchlist.
Day 5- Enables PayPal withdrawals:
In a major announcement, Coinbase allowed users to withdraw cash from their Coinbase wallet directly to their PayPal accounts.
Day 6- Bitcoin donation for Syrian refugees:
Coinbase donated $10,000 in BTC to Syrian refugees living in Greece via GiveCrypto.
Day 7- Coinbase educates users on USDC:
TCoinbase talked about its first stablecoin listing, USDC, a Circle-backed cryptocurrency pegged to the US Dollar 1:1.
Day 8- Enables direct crypto conversions:
Users can now convert one crypto holding to another quickly using the new Convert feature on Coinbase.com and the Android and iOS apps.
Day 9- Coinbase Pro Lists four ERC20 Tokens:
Coinbase pro adds support for Golem, Maker, Dai, and Zilliqa in select jurisdictions.
Day 10- Launches Coinbase Earn:
Coinbase Earn allows participants to earn crypto while learning about it at the same time. The program has launched initially in invite-only mode.
Day 11- Welcomes Customer From New European Regions
Coinbase will now be available for customers in Iceland, Andorra, Isle of Man, Lithuania, Gibraltar, and Guernsey.
Day 12- To be confirmed…
