Whether you’re a philanthropist or simply want to see more positive change in the world, you can donate Bitcoin and other cryptocurrencies to charity to do social good. Cryptocurrency is gaining in popularity and public awareness, which makes it a valuable tool for achieving social good. It’s also easier than ever for people to donate Bitcoin, with many charities already accepting it as a means of donation. We believe Bitcoin and other cryptocurrencies can be a positive force in making a significant difference in the world when donated to nonprofits that will fully leverage it through hodling, rather than cash it out for short-term gain. This approach provides the nonprofit an opportunity to do more than simply turn the Bitcoin donation into cash, but rather, provides an investment in an incredibly valuable financial asset that will ensure viability of the nonprofit’s mission in the community for years to come.
Why Should I Donate Bitcoin or Other Crypto to Charity?
While there are many ways you can donate to charity, donating cryptocurrency should be based on a number of considerations. First, is donating Bitcoin or other forms of cryptocurrency a good fit for the nonprofit you are considering? Can they accept it? Have others donated cryptocurrency to them? What are their plans for Bitcoin donations? Just like any other charitable donation, you should determine if the nonprofit has a well thought out process and a plan for your donation. If they do, you should then also consider the tax benefits of donating Bitcoin to charity.
What are the Benefits of Donating Bitcoin or Other Crypto to a Nonprofit?
Donating crypto is a non-taxable event, meaning you do not owe capital gains tax on the appreciated amount and can deduct it on your taxes. This makes Bitcoin and other cryptocurrency donations one of the most tax efficient ways to support your favorite cause. In other words, donating your crypto can often reduce your tax burden. Talk to your tax advisor to learn more if you plan to donate for tax purposes. Would you rather donate to the IRS or give Bitcoin to your favorite cause?
How Do I Donate Bitcoin To Charity?
Many nonprofits, like MATTER, now accept gifts of cryptocurrency. MATTER partners with The Giving Block to accept these gifts, via a widget on their website. According to The Giving Block, their goal is not only to set up nonprofits to accept cryptocurrency donations, but for them to talk about crypto, driving adoption. They indicate that currently there is about $300,000,000 donated in the form of cryptocurrency each year. As the crypto market has grown, so too have donations in cryptocurrencies.
What is MATTER’s Plan for Bitcoin Donations?
MATTER believes that Bitcoin is an investment in the future. We plan to hodl all Bitcoin contributions as an investment, and we want to assure all donors that we are not interested in flipping it for fiat. We believe this aligns us with cryptocurrency donors who believe that the best use of Bitcoin is as a long-term investment rather than a short-term vehicle to cash out quickly.
Donate Bitcoin or other Cryptocurrency – Make A Big Difference in the World!
We hope you will show your cryptocurrency generosity and consider making a gift to charity, and specifically donate to MATTER, using Bitcoin. By making a charitable gift to us this way, you can be assured that your special contribution to us, whether an initial contribution or an ongoing gift, allows you to do social good and make a long-term difference in MATTER’s ability to kickstart big ideas around the world well into the future!