We are seeing ‘10x growth in terms of the number of nonprofits accepting cryp...
The amount of crypto donations through The Giving Block surged to $100 million this year from $4 million in 2020. With the market capitalization of digital currencies surpassing $2 trillion, there is now record interest in crypto philanthropy. From helping to build a school in Uganda to fundraising for frontline healthcare workers and raising awareness for artists with intellectual disabilities, many nonprofit projects are gaining traction with generous assistance from crypto enthusiasts.But the rewards of giving crypto to charities aren’t limited to the feeling of having accomplished an....
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Most of the nonprofits soliciting bitcoin as a donation method don’t even accept it directly, but go through Payment processor services, like BitPay, who exchange some or all of the Bitcoin for cash at the time of the donation and pass the cash to the charity, avoiding uncertainty about volatility. With Bitcoin getting by far, the most attention nonprofits saw an opportunity to secure a new way of having new income. That’s partly because of its incredible growth in value, going from less than $1 in early 2011 to nearly $1.200 at the end of 2013, before dropping into the mid-hundreds....
Nonprofit entities could be harnessing an untapped market of supporters simply by allowing crypto donations. Over the past three years, an increasing number of nonprofit organizations have begun to accept crypto-based donations. According to Alex Wilson, co-founder of crypto donation gateway The Giving Block, the COVID-19 pandemic has pushed this trend further than ever before.Pandemic prevention measures began to accelerate in March 2020, resulting in business closures and economic turmoil for many. Businesses and nonprofits alike faced notable losses in revenue once the virus took....
Nonprofits and their supporters are turning to crypto to avoid taxmen, middlemen and restrictive lawmakers. Unless they do their homework, nonprofits face restrictions of a different kind.
Charitable crypto campaigns aim to give back this holiday season, demonstrating how effective cryptocurrency and NFT donations can be for donations. The holidays are the perfect time of the year for giving back, and the rise of cryptocurrencies has created even more opportunities for charitable initiatives. This was highlighted during Giving Tuesday 2021, the Tuesday after Thanksgiving which saw over $2.4 million raised in cryptocurrency from the nonprofit fundraising platform The Giving Block.As crypto philanthropy becomes a new subsector of the cryptocurrency economy, some in the....
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