GiveTrack: A Bitcoin Crowdfunding Platform for Nonprofits
The very first platform for nonprofits, low processing fees, transparent and borderless
GiveTrack is a crowdfunding platform where nonprofits anywhere in the world can list their projects and accept donations in Bitcoin. Nonprofits receive 100% of the funds raised on the platform. GiveTrack is an initiative of BitGive, the very first Bitcoin powered nonprofit. They are a US registered nonprofit founded in 2013, 4 years after Bitcoin was born. I find this extremely remarkable, when the world was still grappling to understand Crypto BitGive was already on its mission to power social good via this new digital currency. The other remarkable thing about this organization is that it’s founded by a woman and is mostly women led.
Nonprofits creating an account on the platform must prove that they are a registered charity in the country they are located. The GiveTrack team does the due diligence and once approved the nonprofit is allowed to list projects for fundraising in Bitcoin. The projects are also reviewed by the team before they go live. Once cleared by GiveTrack, nonprofits can create their own wallets on the platform to accept bitcoin donations. After reaching its fundraising goal the nonprofit can then convert the bitcoin into its local currency via a crypto exchange in order to buy goods and services needed for the project.
GiveTrack provides end to end transparency to its donors by recording the transactions on the bitcoin blockchain (aka the public ledger). Once the funds are off the blockchain and into the hands of the nonprofit, the campaign managers are responsible to keep track of the monies spent and feed that information back into the platform. The nonprofit is also responsible to update the platform with milestones achieved and the impact created.
GiveTrack is a pretty neat platform and the first of its kind enabling nonprofits to crowdfund donations in bitcoin. Though a relatively new product of BitGive, it's a game-changer in this space. Crypto transactions across borders are effortless and have very little processing fees unlike traditional foreign exchange and credit card processing fees. And the blockchain provides radical transparency to donors
GiveTrack and its parent organization BitGive is well known amongst the Bitcoin community. They help projects on their platform by promoting them to their donor network however the nonprofit is primarily responsible for marketing the campaign.
For more information on GiveTrack visit https://www.givetrack.org/
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