Business 19 October 2018

Dan Taylor

Coins 4 Clothes: Canadian charity helps homelessness with Bitcoin BCH

Bitcoin BCH has never been more widely used than it is today, with merchants and consumers alike preferring the convenience and security of bitcoin transactions. But alongside its commercial applications, a number of charities are using the cryptocurrency to help people in need.

Among these groups is a Canadian charity, which is demonstrating how BCH can play a practical role in improving the lives of homeless and disadvantaged people in Toronto, through providing clothing to those in need.

Coins 4 Clothes launched back in February, taking donations to buy clothing wholesale for the benefit of various organisations in Toronto, including those working on the front line of homelessness in the city.

Since its launch, there have been over 3,000 items of clothing provided to people in need through its partner organisations, as well as helping raise the profile of bitcoin and crypto payments.

As well as helping seven different organisations in the city, the project has seen some 42 wholesale clothing companies open BCH wallets for the first time, helping proliferate bitcoin and its benefits, both for private and charitable transactions.

More recently, Coins 4 Clothes has announced partnerships with Dress for Success and Dress Your Best, two organisations which provide disadvantaged candidates with professional clothing ahead of job interviews.

In a statement published by the charity, Coins 4 Clothes remarked that its operations are entirely funded by BCH donations.

“Bitcoin Cash (BCH) allows a person to make donations as small as $1 or even less, and only pay a transaction fee of 1 cent. For instance, our smallest donation was for $0.30, which would be impossible using Legacy Bitcoin (BTC). And because Bitcoin Cash (BCH) can process more transactions per second, your transaction is guaranteed to confirm within the next block,” according to its website.

The project is the latest charitable cause to turn to bitcoin as a more effective model for funding the work they do.

For example, dedicated bitcoin aid charity Eat BCH is using bitcoin to feed families in Venezuela and South Sudan, part of a growing trend for deploying bitcoin for charitable aims.

With another Toronto winter fast approaching, Coins 4 Clothes will continue as a vital lifeline to some of the most disadvantaged groups in the city.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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