Giftcoin is a cryptocurrency that will be used for donations. The key goal of the developers of the coin is to help those in need using blockchain technology, which makes it easier for people to make donations.
Giftcoin offers more than an opportunity for users to donate. It also provides a wide selection of charitable organizations where one can donate. Additionally, the platform tracks the donations, ensuring that it has reached its intended recipients. The goal of the platform is to come up with a system that is completely transparent and free, starting from the donors to charitable organizations. This means that any transaction carried out on Giftcoin is free. However, to ensure the sustainability of the platform after the offering of the Giftcoin tokens, a small fee of $1 will be charged for converting fiat currency to Giftcoin. This will encourage users to use the system to give donations.
How Does the Platform Work?
Users who wish to donate via the platform have to download the Giftcoin e-wallet and link it to their bank account. The user further configures the app and chooses the maximum amount of Giftcoin he or she wishes to buy monthly. Every time you purchase something, the Giftcoin round-up app converts your payment to the nearest dollar. The difference is stored in your e-wallet in the form of Giftcoins. After you have accumulated enough Giftcoins in your wallet, you can donate them to the charity of your choice.
The use of smart contracts allows for transparency and donors will get to know who receives the donations. This will encourage others to donate. The platform also enables users to automate their e-wallet such that they will only release money to selected causes.
Benefits of The Platform
This is the first truly-charitable cryptocurrency and is set to fund noble causes
The donation process is transparent due to the use of blockchain technology unlike other donation platforms where donors are not even sure if the money they donate reaches the recipients