Mexican Bitcoin Exchange Bitso Aids Red Cross Earthquake Relief Efforts
Donation period ends today but funds will still be accepted for another week.
Bitso, a cryptocurrency exchange in Mexico, has continues its campaign to aid the victims of the recent earthquake in Mexico.
A few days ago, Bitso announced their support for the Mexican people who were affected by the recent earthquake. The cryptocurrency exchange has enabled donation wallets that can be used by the company’s clients to send aid using different digital currencies, such as bitcoin, ether and ripple. According to Bitso, cryptocurrency donations are a quick and efficient way to help the victims since the assets are easy to transfer.
Unfortunately, some people have lost their homes, their belongings, and sadly even the lives of their loved ones. We are hoping this aid will help them return to their daily activities as soon as possible.
Thousands of homes were destroyed and nearly 100 people have died across the country as a result of an earthquake that struck just before midnight on September 7. It reached a magnitude of 8.2 on the Richter scale.
The donation details can be found on the cryptocurrency exchange’s blog:
“Join this campaign and help the efforts made by the RED CROSS in Mexico by using the hashtag #BitcoinAidMexico and make a donation to one of the following accounts:
Bitcoin (BTC) 1DaHfXsoPfZ2jznJhB62vR3QEVFhhZ2tMR
Ethereum (ETH) 0x88B6021aE4BB9830f2E9D5BB38B83427b9D7ffEc
Ripple (XRP) rEFMdiTbLmZq5ZiMGrWGoyP48DMFqXjNkM [No Destination Tag required]”
The Red Cross thus far has been able to set up collection and relief centers in several areas affected by the earthquake, especially in the southern states of Oaxaca and Chiapas, benefiting around 24,000 people.
Due to the transparency, traceability and real-time reporting of the technology, donations can be easily tracked by users at any time. The total amount Bitso has raised will be exchanged later for Mexican Pesos (MXN) at market rates. Bitso wrote:
“The equivalent amount in Mexican Pesos will be transferred using a local bank wire to Cruz Roja I.A.P. (RED CROSS Mexico) to the bank account CLABE 012180004040404062. This CLABE number can be validated on their website https://www.cruzrojamexicana.org.mx or on their twitter account: https://twitter.com/CruzRoja_MX/status/906600599864582144”
The deadline for sending the funds is September 15; however, Bitso added that if they still receive funds later, the company will exchange those donations between September 15 and 22, and wire them to the Mexican Red Cross.
Bitso highlighted that there is no minimum amount for donations and that they will accept all transactions. The company wrote that the fundraising started with them donating MXN $50,000, which will be added to the total amount of donations.
The amount the company has raised and the transaction proof will be publicly displayed for total transparency.
Bitso emphasized that although the Mexican Red Cross will ultimately receive the funds, user contributions cannot be used as tax deductions.
“Important: BITSO will not make any user contributions tax deductible. Mexican Pesos will be transferred on behalf of third parties according to Mexican law LISR artículo 35, and the following TIN XAXX010101000 will be used in order to generate the corresponding payment as ‘General Public Invoice.’”