Bitcoin Exchange Igot Launches Nepal Earthquake Relief Initiative
The devastating earthquake that hit Nepal last weekend has left the world stunned. With so many lives lost and tens of thousands of survivors affected by the ramifications of this disaster, relief efforts are being set up all over the world. And the Bitcoin community has shown a tremendous support so far, so much even that Bitcoin exchange Igot is setting up their fundraising effort.
Bitcoin Support for Nepal Earthquake Victims
One of the first initiatives to support victims of the Nepal earthquake came from ChangeTip, an online Bitcoin tipping service integrating with a ton of online platforms. By simply sending a tweet to @Changetip, including the US dollar amount you want to send and including the hashtag #NepalEartquake, you are officially supporting the relief efforts with Bitcoin.
And that campaign has been leading to some great success so far, as a few thousand USD has been raised already. Plus, 100% of all donations will be forward to the American Red Cross, a charitable organization working with Bitcoin donations for quite some time now. But there are other initiatives on the horizon as well, such as the new platform to be created by Bitcoin exchange Igot.
Igot To Launch BitcoinForNepal.com Website
Similar to the idea of ChangeTip, Igot will launch a new platform where people can donate Bitcoin in order to support the victims of the Nepal earthquake. All of the donations will be forward to the Nepalese Red Cross Society, who will be able to allocate the funds according to the most dire needs. This is where Bitcoin plays an important role, as it allows for cross-border payments without invoking high fees.
Igot has plenty of experience in that regard, as they are a fast-growing Bitcoin exchange platform targeting the international remittance market. Taking into account that the International Federation of Red Cross and Red Crescent Societies are looking to raise a total of US$ 34 million [or 33.4 million Swiss Francs], the efforts made by Igot and others in the Bitcoin space will not go by unnoticed.
By passing on 100% of the donations received to the the victims of the earthquake to the Nepal Red Cross Society, Igot is positioning itself as a major player in the relief effort space. A dedicated webpage has been set up on the Igot website, But that is not all, as Igot will also donate 50% of all buy/sell commissions collected for one month.
“Like many individuals in the Bitcoin community, I have been truly shocked by the tragic consequences of this earthquake. At igot, we really want to do something to make a difference in the lives of the people affected by the disaster. Bitcoin is a great way to donate to this cause because 100 percent of the funds donated will go straight to where they are needed most.” – igot founder Rick Day told MiningPool.co.uk.
Every seven days, Igot will pay out the total amount of Bitcoin donations raised to the Nepal Red Cross Society. This process will repeat itself for four weeks of the appeal. Furthermore, Igot wants to be completely transparent regarding the donations being made, as the Nepal appeal Bitcoin address can be monitored on the blockchain at all times.
Source: Press Release via Email