- End-of-year charitable giving resonates with donors, with 30% of annual donations occurring in December and 10% in the last three days of the year.
- Crypto donations may reach new highs in 2023 due to price increases in Bitcoin, Ethereum, and other digital assets.
- The Giving Block supports 1,788 nonprofit organizations worldwide to facilitate online cryptocurrency donations.
As the holiday season approaches, charities and nonprofits are gearing up for an influx of year-end donations. While traditional cash donations remain significant, crypto donations could set a new record this year due to enthusiasm from crypto holders and increased valuations of digital currencies. The Giving Block , which facilitates crypto donations to 1,788 organizations, expects donations to accelerate in December.
Nonprofits Prepare for End-of-Year Crypto Giving
A growing number of nonprofits are embracing cryptocurrency donations. Upbring, a children’s charity, launched a “Crypto Endowment Fund for Better Childhoods” earlier this year. The fund allows for donations of Bitcoin, Ether, USDC, and other cryptocurrencies. According to Classy, these donations offer tax benefits to donors, allowing them to offset capital losses from crypto trades
A study by The Giving Block found that 45% of crypto holders are likely to donate at least $1,000 annually, compared to 33% of the general investor population. Millennial millionaires who own crypto were four times more likely to donate over $10,000.
Variety of Causes Accept Crypto Donations
Many prominent nonprofits accept cryptocurrency donations including: UNICEF which launched a crypto fund in 2019; Save the Children, the first international NGO to accept Bitcoin donations in 2013; and healthcare nonprofits like Susan G. Komen and the Pediatric Cancer Research Foundation.
Environmental causes and educational initiatives have also embraced crypto giving. The Giving Block’s Maui Emergency Response Fund collected donations for Maui wildfire victims, nearing the $1 million mark. Organizations like Red Cloud Renewable and charities such as Big Brothers Big Sisters of Metro Atlanta and Space for Humanity accept crypto donations.
The Giving Block Facilitates Crypto Philanthropy
The Giving Block provides reports and servicesto help charities facilitate crypto donations. Upbring’s recent fundraiser – “Awaken Your Inner Child” – used an NFT collection on OpenSea, eventually raising over $10,000 for childhood initiatives.
As crypto donations become more mainstream, charities and donors alike should educate themselves on the possibilities of crypto philanthropy . This year-end season provides the perfect opportunity to donate and awaken generosity within the crypto community.
[Tweet from Danny Brown Wolf regarding wearable NFT for Susan G. Komen]
[Tweet from Variety – the Children’s Charity about Crypto Giving Tuesday]