Mexican cryptocurrency exchange Bitso joined forces with the crowdfunding platform Donadora to launch a crypto-based donation organisation. The platform will help gather funds to purchase food for the about vulnerable families affected by the COVID-19 crisis.

Co-ordinate to a report published by El Heraldo de México on May 15, each pantry delivered volition exist worth 150 Mexican pesos. They will have enough food to feed families of between four and vi members for a week.

Donation options include both fiat currencies and various cryptos, such every bit Bitcoin (BTC), Ether (ETH) and XRP.

Crypto donations gain popularity every bit a crowdfunding method

The local exchange stated that crypto donations are a very efficient method for crowdfunding. This is due to their decentralized nature and the fact that anyone in the world can participate in the initiative.

Bitso released the following comments after the announcement:

"Donations through cryptocurrency wallets are easy, fast, and secure. Transactions are reflected in seconds, making it a very transparent method to ensure that your donation was received."

Initiatives to fight COVID-19 continue to arise in the crypto infinite

Cointelegraph reported on another crypto crowdfunding campaign in April launched by the Italian Ruby Cross. The entrada aimed to build an advanced medical mail to combat COVID-19 in Italy. This effort successfully raised $ten,000 in four weeks.

Several crypto firms launched similar initiatives related to the COVID-19 pandemic crisis across the world, such as Binance, BitMEX and the Stellar Foundation.