Nepal needs our help more than before. Earthquakes struck the country again on Tuesday, 12 May 2015. A 7.8 magnitude earthquake had already devastated the country about 2 weeks ago. We will not delve into the details of the nation's worst earthquakes in 80 years as these can be found in the media. We will, however, help in the best ways we can. We encourage you to reach out too.
100% of all proceeds will be donated to the Singapore Red Cross Society. Coinhako will take NO fees.
All donations received will be converted to SGD and donated to the Singapore Red Cross Society every Sunday.
Donations can also be made via walk-in cash donations or cheques to the Singapore Red Cross society.
See here for more information.
Since late April 2015, the Nepal Red Cross has appealed for $34m to allow delivery of assistance and support to a total of 75,000 people over a total timeframe of 18 months. The region will likely need more given the latest earthquakes that struck Nepal on 12 May 2015.
Relief items and emergency supplies – which include household kits and shelter tool kits - will be dispatched in collaboration with the International Federation of Red Cross and Red Crescent Societies.
You don't have to use Bitcoin to donate to the Red Cross. Please see above for instructions to direct financial aid to Nepal via traditional channels.
But if you care that your money goes to the right place, and not enrich middlemen in the process, you might want to strongly consider using Bitcoin.
For your convenience, we shall explain the reasons here (reproduced from our previous blog post):
Bitcoin is a digital currency that can be sent anywhere in the world. Your transaction will be executed within minutes, with no involvement of a bank or payment institution.
The cost per transaction is a few cents regardless of dollar value. This is much better in comparison with the fees levied by the credit card companies, which can range from 2-4% or more. As a result, all payments made to the Red Cross (or any non-profit) via Bitcoin will result in almost all of the donated money helping the people that need it – you will not unknowingly help a big corporation get richer even in times of need.
By collecting Bitcoin for the Nepal Earthquake Relief Operation, Coinhako is helping to ensure that Nepal Red Cross has access to 100% of the funds you generously donate.
If you would like to verify the transactions that happen via Bitcoin to the dedicated wallet service that Coinhako has set up, you may do so by looking up the wallet’s address on blockchain.info. This wallet is powered by the underlying technology of Bitcoin – the blockchain. Hence, you may rest assured of the transparency of our fund-raising campaign.
Moreover, from Coinhako’s recent integration with BitGo, the account dedicated for receiving the donations will be a multi-signature wallet. Hence, it is more secure and importantly – insured against hacking/theft.
Please feel free to contact us if you have any questions at hello@coinhako.com. We encourage you to be open-hearted for the benefit of countless families in Nepal.
