Crypto to Save Lives

9 Feb 2023

Photo by CarmenMurillo

In the past, organizations and individuals have been limited in their ability to donate to charity. Traditional methods of giving, such as cash or checks, have been the go-to donation choice for many people.

Now, with the emergence of cryptocurrency, donors have been given a new way to support their favorite charities and causes.

Crypto donations are transforming the charity landscape by providing a secure and anonymous payment option for those who wish to offer financial support to charitable organizations.

Crypto Giving

As we shift into a digital world, many organizations and charities are beginning to turn to cryptocurrency as an alternative form of payment.

Crypto donations offer several advantages that make them an attractive option for those seeking to donate their money or resources.

How crypto is changing philanthropy - Morning Brew

Cryptocurrency transactions provide enhanced security, making them much more difficult for criminals to intercept or alter than traditional payments.

One of the most important steps is for donors to ensure they are sending their donations through a reputable provider that offers reliable tracking tools.

It's also important for donors to be aware of regulations put in place by local authorities regarding crypto donations, as these may vary from country to country or even within states or provinces.

By considering both tracking protocols and regulations surrounding crypto-based donations, you can rest assured that your donation has been accounted for and is being put toward those who need it most.

How to Donate Crypto?

Using crypto donations is fairly straightforward and involves basic steps: first, the donor must select what organization or charity they want to donate money to; second, they need to choose how much of which cryptocurrency they want to use for the donation.

Nonprofits Get a New Type of Donation: Cryptocurrency - NYTimes

This is usually provided on their website or social media accounts. Then, choose the type of cryptocurrency via an online wallet or exchange service and the amount you'd like to donate before entering the recipient's wallet address into your wallet software.

Double-check all information before submitting your donation - once it's sent, there's no turning back. Once these steps are completed, the charity will receive the funds in cryptocurrency form in their digital wallet.

Crypto for Good: How to Donate Crypto and Who Accepts It

This form of donation it allows donors to have direct control over how their money is spent - they can specify which project or cause they would like it used for, allowing them greater accountability and oversight over their donation.

Regulations & Tax

The regulations surrounding crypto donations vary from country to country, but they generally follow the same rules as other types of non-cash donations.

What Your Nonprofit Needs to Know About Cryptocurrency 

A donor must be able to provide proof that they have made a legitimate transaction, such as providing an invoice or receipt. Some countries may also require donors to report their crypto donations on their tax returns.

Regarding taxation, most governments view crypto donations as capital gains or income subject to taxation like any other asset.

Places To Donate Crypto

As more and more people become comfortable using digital currency, there's an increasing number of organizations that are accepting cryptocurrency donations.

Here are some of the best places to donate crypto coins, from global nonprofits to local charities.

  • The Giving Block: This allows donors to directly give bitcoin and other digital currencies to over 1 million charities worldwide. With their secure platform, donors can also receive tax deductions for any cryptocurrency donations made through The Giving Block.

  • Crypto For Charity: This organization works directly with projects that focus on improving healthcare, education, food security, and access to clean water in developing countries.

  • Endaoment: This platform provides users with web-based services that make it simple to donate crypto directly to charities or other persons of their choice without having to go through any intermediaries.

  • Bitgive: was the first Bitcoin and Blockchain non-profit founded in 2013 and is known as one of the first cryptocurrency charities in the world. They accept donations from any crypto currency, including Bitcoin, Ethereum, Litecoin, and others. Through their GiveTrack platform, donors can track their donation's progress throughout its life cycle and see exactly how it's being used by those who need it most.

The ability to donate cryptocurrency provides donors with several advantages over traditional donation methods.

For instance, donors can track their donations more easily than ever before. With cryptocurrency donations, donors know exactly where their funds are going and what they will be used for without any difficulty.

Crypto For Turkey

Turkey is still in shock and mourning after the 7.8 magnitude earthquake that struck on February 6, 2023. Many citizens have been left without access to necessities or a safe place to stay.

Crypto Community Raises Aid for Turkey and Syria | Hypemoon

Jack Butcher is no ordinary tech entrepreneur. He's helping Turkey with cryptocurrency donations to Doctors without Borders via The Giving Block.

With this initiative, Jack hopes to alleviate some of the hardships faced by those living in Turkey and potentially set a new standard for charitable giving in the future.

To help these individuals and organizations in need, many worldwide organizations are exploring new ways of providing aid.

Cryptocurrency is one of the most efficient and secure methods to donate funds quickly, with some notable crypto projects already taking action.

Crypto and NFT Communities Band Together to Raise Aid for Turkey and Syria

There has been an outpouring of support globally as news of the devastating quake spread through media outlets.

Let Help Turkey looks to raise funds through cryptocurrency donations to help those in need.

Final Thought

Crypto donations help charities reach a wider audience and open up new fundraising opportunities.

They offer numerous advantages for donors and recipients that could revolutionize how charities and non-profits are funded.

This type of donation represents an important advancement in the charitable giving space that should be considered by everyone looking to make a difference in the world. Let's all consider donating crypto today and create a better tomorrow.

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