Signal messaging app now enables donations in cryptocurrencies | Invezz

A recent report reveals that privacy-focused messaging app, Signal Technology Foundation, has started accepting cryptocurrency donations. The report states that the app will be accepting donations through The Giving Block.

Signal is a non-profit organization and carries most of its operations with the help of donations received from supporters and well-wishers. The app was established in 2018 by Marlinkspike and Brain Action.

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Affiliate Marketing

The integration with Giving Block allows Signal to accept Bitcoin (BTC), Etherreum (ETH) as well as 10 other crypto coins.

Staff expressed initial concerns about the integration

In January, the staff members of the platform expressed fears about the imminent integration of Signal to accept donations from crypto wallets.

The argument of the staff was due to the security issues of cryptocurrencies. They said the addition may open the app may encourage abusive behavior and brings negative attention to the app.

But Signal allayed such fears by developing policies that will guide against donations from fraudulent sources and criminals. Signal stated,

“If you’ve been patiently waiting for Signal to accept cryptocurrency donations, you no longer need to hold back your generosity.”

Some of the listed cryptocurrencies include Bitcoin Cash (BCH), Gemini Dollar (GUSD), Zcash (ZEC), Litecoin (LTC), and Basic attention token (BAT).

Tip: looking for an app to invest wisely? Trade safely by signing-up with our preferred choice,

visit & create account

More users are flocking towards Signal

U.S.-based donors who want to have tax deductions for their donations are asked to provide their email addresses for a tax receipt. Additionally, there is a provision for those who want to donate without providing their details.

The signal became well known in Hong Kong last year, after the passage of the national security law. It also experienced massive downloads earlier in January after WhatsApp amended its policy that caused privacy concerns.

Signal allows users to freely express their opinion, unlike some other messaging apps that tend to flag certain comments. Its popularity is growing steadily as more people want flock towards privacy-centered platforms. Signal is not the only messaging app that has adopted cryptocurrency on its platforms. Japan-based instant messaging app LINE also rolled out a crypto wallet for users last year.

Source link