I Don’t Want To Miss It Institutions In The UAE Are Now Accepting Crypto Donations

The UAE’s Al Jalila Health Foundation has approved the use of digital currency, and sympathizers can now donate through cryptocurrency.

By embracing cryptocurrency, Al Jalila Foundation became one of the first non-profit organizations in the UAE. In a recent statement, the Al Jalila Foundation revealed that it has partnered with an unnamed “leading cryptocurrency platform”.

Commenting on the foundation’s move to expand its donation channel, Foundation CEO Abdul Karim Sultan Al Olama said that as a charitable organization, we rely on charitable giving and are always looking for innovative ways to expand our donation channel for convenience and convenience. Convenience of donors around the world. globalization.

“So, as an emerging fundraising resource, providing an opportunity for a growing number of crypto users around the world to donate to the Al Jarilla Foundation is a win-win solution for us as the Olama Foundation and the donor community. ,” quoted from Bitcoin.com, Friday, September 30, 2022.

Olama also praised the Al Jalila Foundation’s decision to become the first medical charity organization to accept cryptocurrency donations that bridges the gap between real and digital currencies.

In deciding to accept cryptocurrency, the Al Jalila Foundation joined other large charities such as Save the Children, which had chosen the Cardano Foundation as a partner.

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Previously, spending on cryptocurrencies had increased 10% in the last 12 months, with 53% of cryptocurrency owners in Australia reporting that they had made a purchase using cryptocurrency.

Amazon is one of the most used online marketplaces, attracting 27% of cryptocurrency users in Australia, spending 21% on refueling at pumps and 23% on restaurants.

Regarding the rise in cryptocurrency spending, Tommy Hannan, head of strategic partnerships at Swyftx, said in a statement that he is excited to see a significant increase in the number of Australians using cryptocurrencies for online shopping as the future of digital assets becomes almost certain. . show. lie.

Bitcoinist, citing Hanan on Friday, September 30, “expects less cryptocurrency and less market volatility over the next five to ten years. This will make digital assets indistinguishable from traditional finance.” say. 2022.

Cryptocurrency holdings are on the rise.

Not only has spending on cryptocurrencies increased, but the value of crypto holdings in Australia has also increased. Cryptocurrency holdings increased by 4%, from 17% in 2022 to 21%.

Moreover, the survey found that 29% of cryptocurrency holders are optimistic about their long-term investment or investing in cryptocurrencies.

The downside is that the number of people who believe cryptocurrency will be the currency of the future has decreased by 5% year over year.

Female investors make more money

The survey also shows that Australian cryptocurrency investors earn more than male cryptocurrency investors.

Australian women reported earnings of $7,314 (approximately Rs 110.9 million), compared to $7,089 (Rs 175 million) for Australian men. Despite the harsh crypto winter, 72% of Australians who own crypto reported an average return of $7,152.

Previously, the popularity of cryptocurrencies among US investors had declined. According to a survey conducted by Bankrate in September, by 2022, only 21% of Americans will feel comfortable investing in cryptocurrencies. This is down from 35% in 2021. This decline occurred during the so-called crypto winter.

Investor comfort levels have declined across generations, but have fallen the most among millennials. Nearly 30% of US investors between the ages of 26 and 41 feel more comfortable in 2022 compared to about 50% in 2021.

This drop is not surprising considering that nearly $2 trillion has been lost across all crypto markets since November 2021. The price of popular cryptocurrencies like Bitcoin has struggled to hit all-time highs in 2021.

James Royal of Bankrate says all asset traders love profits. It’s no surprise that demand has dropped as major cryptocurrencies like Bitcoin and Ethereum have fallen more than 70% from their all-time high.

On Friday, September 30, 2022, CNBC reported that “Cryptocurrency price declines are not helping to attract more people to cryptocurrencies.”

Bitcoin has been trading between $18,000 and $25,000 since June, down from a high of over $65,000 in November 2021. The cryptocurrency is a highly volatile asset with unpredictable price fluctuations.

Financial experts usually advise against investing more money in cryptocurrencies as the profits are not guaranteed.

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