Homegrown digital assent exchange platform PDAX unveiled its “Donate” service feature, which aims to enable non-profit organizations, charities, and foundations to start accepting donations in the form of cryptocurrencies.
For the service, PDAX created a dedicated donation website for each of its partner organizations, where they can accept crypto donations.
The crypto donations are credited directly to the organization’s PDAX wallet. The donated funds could be held as crypto and could be converted to Philippine Peso anytime to reduce exposure to price volatility.
Using PDAX Donate, non-profit organizations will be able to avail themselves of a faster and cheaper channel for receiving crypto donations from anywhere in the world. They will also have no required minimum balance for maintaining their PDAX account and will be able to withdraw their funds anytime.
Organizations can also rest assured that their crypto donations will remain secure in their wallets as the platform employs various security measures. On top of this, PDAX, which serves as the tech partner for the charity organization, is a virtual asset provider licensed by the Bangko Sentral ng Pilipinas.
How to donate through PDAX Donate
Donating through PDAX Donate is fast, simple, and instant. Donors can send any amount using any of the 26 cryptocurrencies currently available on the exchange’s mobile app.
- Go to the PDAX Donate and choose from our range of NGO partners.
- Select the crypto that you wish to convert to fiat then input your pledge amount.
- Provide your details and the purpose of your donation.
- Scan the QR code or copy the wallet address and send it from your desired exchange or crypto wallet to complete the transaction.
At present, the Donate feature is limited to Philippine-based groups. PDAX cited the lack of financial services allowing direct fund transfers or transfer fees do not come cheap.
With the PDAX Donate service, non-profit organizations can have access to the global community of donors and choose to receive crypto donations that can be easily sent by anyone from their crypto wallets, in real-time, and with lower transaction costs. PDAX Donate allows donors to send crypto donations using any of the 25 tokens currently offered by the platform. These include Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP), Tether (USDT), Cardano (ADA), Axie Infinity Shards (AXS), Smooth Love Potion (SLP), Dogecoin (DOGE), Solana (SOL), Sushi (SUSHI) Stellar (XLM) and BNB.
This is made possible by the use of blockchain technology, which allows for real-time settlements with minimal transaction costs.