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Study Reveals What Makes Hodlers Give Up Their Crypto

November 27, 2018

Amidst the market downturn and widespread panic selling that began last week, shaving billions from Bitcoin’s market cap, altruism is driving-decision making among certain crypto investors. According to a new survey conducted by Pollfish, cryptocurrency hodlers are inclined to give up their assets for a worthy cause.

An overwhelming majority of respondents say they’re interested in making charitable donations using their cryptocurrency. The vast majority of respondents had already made a crypto donation and 1 in 4 are more likely to give up their assets if they can do it in crypto.

Here are some highlights from the study, commissioned by WeTrust, a decentralized platform for financial products.

  • 90.5% reported having made a monetary donation to a charitable cause.

  • 77% want to make a donation.

  • 63% made a donation within the past year.

  • 62% said charitable organizations should embrace cryptocurrencies for fundraising (versus those who said charitable organizations are doing fine without them).

  • 24% said they would be more likely to make a monetary donation to a charitable cause if they could do so in cryptocurrency.

  • 55% believe the crypto community is more generous than the general population.

Top Causes

  • Children’s issues  – 49%

  • Homelessness – 42%

  • Hunger – 41%

  • Animals – 38%

The survey of 1,000 US adults was conducted on October 11-12.

Your Ethereum donation just got bigger! @WeTrustPlatform will match donations to Code for America by half through #GivingTuesday (11/27)! Make your donation here to help restore #JusticeAtScale: https://t.co/sswfv1Lw4Z pic.twitter.com/KJPyYJd0SN

— Code for America (@codeforamerica) November 20, 2018

Socially driven entrepreneurs and nonprofits are able to raise crypto funds through WeTrust Spring, which allows cryptocurrency holders to make donations in Ethereum to a range of participating nonprofits.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.