What is blockchain technology?

Below you will find detailed information about what blockchain is, the role of NFTs, how to use crypto assets once received, and finally the use of PFP technology. Keep scrolling, it only gets more interesting.

What is blockchain?

Blockchain is a system of recording information electronically in digital format in a way that makes it difficult or impossible to change, hack or somehow cheat the system. It is a distributed database that is shared among the nodes of a computer network. For maintaining a secure and decentralized record of transactions, blockchains are best known for their crucial role in cryptocurrency systems, for example Bitcoin. The innovation is that it guarantees the fidelity and security of a record of data and generates trust without the need for a third party.

What are NFTs?

An NFT or Non-Fungible Token explained briefly is a digital asset, stored on the blockchain. It can be almost anything – picture, music, art, gift, video, in-game item or other type of digital file. They function as verifiable proof of authenticity and ownership within a blockchain network, which confirms the uniqueness and the fact that there can be no two NFTs exactly alike.

For the record: fungible tokens based on blockchain are all cryptocurrency coins in circulation, including Bitcoin, making them completely replaceable with other identical tokens of the same value.

Control and storage of crypto assets

Handling crypto and NFT assets is not much different than managing other digital assets, mostly requires the right tools and information to achieve smooth financial operation. The market is saturated with different kinds of blockchain wallet products, although they mostly offer similar extras.

Blockchain asset control is mostly done through a crypto wallet, as it allows facilitation of all exchange operations, including swaps and giveaways. Other specific actions can be found on some platforms online which ask for authorization to connect with your wallet, and with proper security in place you have complete control through an app or browser extension software. With choices between fully digital and hardware (cold storage) crypto wallets, security is offered on multiple levels, so these assets remain safe from illicit access.

Storing non-fungible tokens requires additional knowledge and maintenance of where the NFT off-chain data (media file) exists, since due to the size it is very rarely stored on the blockchain along with the token's address. Losing the data stored off the blockchain renders an NFT worthless, therefore caution is advised to always confirm if the location of that data is within your full control.

How to liquidate NFT & Crypto assets

A short introduction on how to receive, transfer or exchange the value of blockchain assets to other currencies.

Receive crypto & NFT donations

In order to receive crypto or NFT donations, you will need a crypto wallet, which is both secure and interface friendly. Our suggestion is the Metamask wallet as it is the most popular and therefore has the necessary infrastructure and usage. It contains features like multi-coin support, swapping, the possibility to choose which blockchain to use and much more.

Cash, transfer or exchange crypto & NFT donations

Blockchain tokens, as well as crypto wallets, have a permanent address and offer complete transparency when it comes to financial transactions and proving where a donation was spent. However, withdrawing, cashing or exchanging cryptocurrency is not yet widely offered.

It is highly unlikely that providing help will be as direct as blockchain assets changing address, since those in need rarely have access to such services and accounts, however in rare cases when using third parties, anything is possible.

The number of banks accepting cryptocurrency transfers and exchange is gradually increasing, however they are still scarce in many countries and regions where charity help is needed most. Your organization can use platforms built specifically for this purpose. We will only share the most popular and established platforms such as Binance, Coinbase, Kraken and FTX. You can also get in touch with our team about your specific case.

Frequently Asked Questions

There are a few other things we thought you might want answered:

Our Team

We are a great team of people who love to earn and give back to those in need. We have created this website to enable organizations to manage blockchain assets as well as motivate people to donate to charity organizations by using blockchain technology. Thanks for being part of our mission!

Contact Us

In case you need to contact us for any blockchain charity-related topics, you can do it via the contact us button below. We will reply quickly with appropriate information.