The chairman of the mosque, Erkin Guney, expressed excitement at the success of the crypto donations initiative despite the fact that there was a lot of skepticism initially.
“When the donations started to flow in, we were blown away. We received four times more in cryptocurrency donations than in cash from our local worshippers during Ramadan, and we are still receiving cryptocurrency Sadaqah [voluntary donations]. It is amazing!”
Shacklewell Lane Mosque first announced that they would be experimenting with crypto donations on May 21, a few days after the annual fasting period had started.
Barely two months after announcing that it would start accepting donations in cryptocurrency, East London’s Shacklewell Lane Mosque has received more contributions in cryptocurrency compared to cash.
According to iNews, the Dalston, East London-based mosque collected donations amounting to approximately £13,983 in cryptocurrency. This was four times more than the value of contributions that were received in cash – £3,460. During the Muslim fasting period of Ramadhan, 24 cryptocurrency donations were received by the mosque. One individual gave as much as £5,200 in cryptocurrencies. Per the mosque’s website, the accepted cryptocurrencies are Bitcoin and Ethereum.
Great to see so much media interest in our cryptocurrency Zakat campaign. A big thanks to Conor Maloney @iWriteCrypto who kicked us off with this article on CCN
While Sadaqah is voluntary, Zakat is obligatory for all financially able Muslims with the qualifying members of the faith required to give 2.5% of their wealth annually to assist the less fortunate in the society.
According to Guney, the idea of accepting cryptocurrencies came about when Gurmit Singh, the founder of blockchain firm Combo Innovations, suggested that it would benefit the mosque to welcome such donations since a lot of Muslims were using crypto anyway.
The crypto donations that Shacklewell Lane Mosque has received will go towards feeding and sheltering the homeless in the local area as well as conducting needed mosque repairs.
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