Accepting crypto as payment is one of the most popular use cases for cryptocurrencies, however, not the only one. Fortunately, there is a great option for those who want to accept cryptocurrency but don’t want to make payments obligatory or, for example, don’t have a product to sell. In this case, donation tools step up into the game. One of the greatest charity projects out there, Elongate, has partnered with NOWPayments and CoinSocialStory in order to accept MATIC donations.
Crypto Charity donations
More and more charities are starting to accept crypto donations. So what are the advantages of cryptocurrency?
- Global coverage – anyone can donate to any charity instantly
- Lower fees – crypto is perfect for micro-transactions
- Security: сryptocurrency is private and secure
- Transparency: transparency is important for charities
What is ELONGATE?
ELONGATE crypto token is charity crypto and a crypto charity fund. They have developed a unique mechanism for this: Every token transaction has a 10% fee, with 5% going to token holders as a reward, and another 5% collected in a pool to be then sent to a charity which is chosen every week. One of the examples is National Kidney Foundation.
ELONGATE prepares interviews with various representatives of the different charities the donations go to, like Susana Eshleman CEO of Children International, Junaid Butt, Director of Human Relief Foundation, Kevin Longino CEO of National Kidney Foundation, and Kimbal Musk, co-founder of Big Green.
Right now ELONGATE has around 450K holders. $3 Million has been donated to charity in its 9 weeks of operation.
Matic Network is completely decentralized and works on bringing mass adoption closer by resolving the scalability, high fees and slow speeds issues.
The MATIC token (ERC-20) was created to protect and pay for transactions. The token is secured by the Proof-of-Stake consensus mechanism. MATIC coin can be used for staking, delegating, paying for gas, trading, and MATIC can be accepted as payment or donation. You can buy MATIC coin on Binance, Coinbase, Huobi, Uniswap etc.
MATIC Donation Benefits:
- Low fees: Polygon aims to lower blockchain fees, therefore MATIC transactions fees are extremely low.
- Security: While fully benefiting from the Ethereum network, Polygon is also claiming to be more secure.
- Scalability and Interoperability: Possible message passing (tokens, contract calls etc)
How to start accepting MATIC
You can accept MATIC as payment or donation in just a few simple steps by registering on NOWPayments, entering your MATIC wallet address and creating an API key.
For crypto donations, you can use our widget, button or a donation link.