Fundraiser Wants To Collect $1 Million In Virtual Currencies For Venezuelans In Need
A cryptocurrency fundraiser launched a new project to help Venezuelans that need it. Individuals from all over the world can donate funds using different virtual currencies. Venezuela is experiencing a hard crisis that has worsened during the last few years. The company Airtm is in charge of the initiative.
The main intention is to gather $1 million in virtual currencies to 100k Venezuelans that will be authenticated with their ID cards. The main cryptos accepted are Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Zcash (ZEC), Dash, Ethereum (ETH), XRP and many others. Once the funds are gathered, they will be converted to US dollars and used to purchase food or other items.
61% of Venezuelans have had trouble putting food on the table in 2017. The situation has continued to worsen this year, and is expected to deteriorate throughout 2019. Help us spread the word, and share the message. #AirdropVenezuela
— Airtm Inc (@AirtmInc) December 10, 2018
The campaign was able to raise $50,000 from people all around the world. Just by sending $10 dollars in virtual currencies it would be possible for a Venezuelan family to have access to basic goods and services such as food or medicines.
Roger Ver, Bitcoin.com CEO, decided to support this initiative saying that he would match all BCH donations made in 24 hours.
About it, he commented:
“The bigger the network effect a currency has, the more useful that currency becomes. This is a great way to grow the network for Bitcoin Cash and help people in need at the same time.”
Venezuelans have been embracing virtual currencies in order to survive and face an economic crisis without comparison around the world. The local fiat currency, the sovereign Bolivar, has replaced the strong Bolivar a few months ago. However, this new fiat currency has already lost its value.
This is not the first time that there are campaigns in favor of Venezuelan citizens. In the past, a Twitter user known as Crypto For Venezuela shared a video in which Venezuelan citizens received donations in Bitcoin. The funds gathered were used to deliver school supplies and clothing.
A couple weeks ago I shared a video where bought a ton school supplies and clothing to be donated to kids!
Today was that day!🔥 We delivered all the school supplies and Clothing to the kids 😍❤️ Thanks for all your help! $BTC all of it was done thanks to you guys and Bitcoin! pic.twitter.com/LMfOT6GPng
— Crypto For Venezuela! (@CryptoForVzla) December 1, 2018
The government of Venezuela has also launched a cryptocurrency known as the Petro. This digital asset has been criticized by many analysts saying that it will never be able to be a decentralized virtual currency as Bitcoin or others.
Moreover, the virtual currency cannot be exchanged in any crypto platform available.