NPO uses cryptocurrency to help homeless communities around the world
Crypto for the Homeless (CFTHL) has fed more than 5,000 people in the homeless community globally thanks to digital currency donations
CFTHL chose to use cryptocurrency due to its decentralised nature and the ability to reimburse volunteers quickly with no wiring fees
CFTHL plans to keep providing care packages and food to displaced communities around the world and “believes that crypto is the future of crowdfunding and donations”
Crypto for the Homeless (CFTHL), a non–profit organisation (NPO) based in New Jersey recently celebrated its three-year anniversary. To date, CFTHL has fed more than 5,000 people in the homeless community globally thanks to digital currency donations.
The NPO was founded by Kenneth Kim, a Pennsylvania-based pharmacist “with the intention of doing something unique with crypto while at the same time helping the needy”. Kim chose crypto for CFTHL due to its decentralised nature; the ultimate control it provided over the NPO’s funds and the possibility to reimburse volunteers instantly without any wiring fees.
Volunteers hand-deliver meals and care packages to their local homeless communities and are reimbursed in their choice of cryptocurrency. The use of digital currencies has allowed the NPO to function across borders, and to date, CFTHL has helped displaced people in Australia, Canada, India, New Zealand, Nicaragua, Paraguay, Thailand, and the United States, among others.
Kim explains that this movement aims to “re-introduce a human aspect of charity that [he] felt was sorely missing from most other projects.” CFTHL “believes that crypto is the future of crowdfunding and donations”.
To learn more about cryptocurrency, take a look at our learning resources.