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Charitable Crypto Holders Can Now Donate Digital Currencies

Every.org now allows donors to donate top cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, Litecoin or USD Coin. There are over 1 million US 501(c)(3) registered public charities — from local pet shelters to international organizations — to choose from.

The donors could enjoy huge tax benefits, compared to selling the cryptocurrency before donating the proceeds, which means they could afford to donate more generously.

“It was a pleasure to use Every.org to make a tax-deductible donation of Ether to two charities in 2020 who otherwise would not have accepted crypto,” said Chris Peel, the President of Decentralization Foundation. “I plan to use Every.org for all future crypto donations to charities.”

Since the start of the COVID-19 pandemic, societies and businesses around the world have undergone a significant digital transformation. The dramatic shift has also caused many to flock to cryptocurrencies, mainstreaming the use of digital currencies in everyday lives.

Donors are increasingly willing to part with their currencies for charitable reasons, considering that the users of digital money can benefit from financial inclusion and access.

In spite of that, only 12% of the major charities accept cryptocurrencies. Every.org decided to not miss out on the golden opportunity that many nonprofits did.

 

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SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

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