Cryptocurrency Donations: Benefits and How To Do It – Crypto News Flash
Cryptocurrency is one of the fastest-growing methods of donation these days. Many charitable organizations have started accepting crypto donations, considering the growing popularity of digital currencies.
Let’s read about the benefits of cryptocurrency donation for non-profits and where to donate cryptocurrencies.
Despite a lack of knowledge, most non-profit fundraising teams do their best to leverage crypto fundraising. This is because of the following key benefits of crypto donations:
People are often reluctant to donate because of a lack of transparency. This is a major issue for churches, charities, and nonprofits. But crypto allows for total transparency because you know where your money is flowing. In addition, users can view transactions in the blockchain public ledger, which allows for more visibility and peace of mind.
Unlike fiat/money transactions, which take days or even weeks to complete, crypto is incredibly faster to process. This is true, especially for international transactions. Crypto transactions take a few minutes to complete from the comfort of your home.
Safety and simplicity of transactions are key motivators for people considering a crypto donation. In addition, donating using cryptocurrencies is safer than using a credit or debit card, paying via a check, or making a bank transfer. Blockchain transactions are secure, protecting you, your donation, and the receiving charitable.
Donating with crypto brings huge tax savings. As we all know, donations to nonprofits are tax deductible. So, it helps avoid the headaches of extra tax while helping you contribute towards a good cause. We encourage you to work with a tax advisor to maximize your tax savings.
There are two types of organizations that accept crypto donations. These include the following:
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There are some dedicated crypto NGOs that raise funds only in the form of cryptocurrencies. For example, Binance Charity uses blockchain for fundraising to support a variety of critical issues worldwide, from preventing deforestation to fighting hunger.
Similarly, the COTAP charity organization focuses on carbon footprint reduction programs for farmers and communities. The organization leverages sustainable technical innovations to create passive financial income and fights climate change and poverty.
Many charities, including UNICEF and the Human Rights Foundation, accept crypto donations. For example, Mona Foundation is a leading charity organization that aims to create educational opportunities for children and to encourage gender equality. Similarly, another organization named Pencils of Promise builds schools and helps teachers worldwide to create long-lasting educational opportunities for children.
Feeding America provides food to poor people within the U.S.A. The charity organization delivers products to local food banks and conserves nutritional supplies. Similarly, you can donate to Heifer International, which primarily focuses on helping farmers and business owners create a better future.
There are many platforms that let you donate cryptocurrencies. Some platforms support all cryptocurrencies, while others support some particular digital currencies. For example, using the Crypto Usage platform, you can donate with bitcoin and other major cryptocurrencies.
Just make sure you find a reliable platform to make crypto donations so that your funds stay in safe and right hands.
Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He’s fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.
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