How do nonprofits accept cryptocurrency donations?

There are four ways cryptocurrency for nonprofits donations can be processed: intermediary 501 (c) (3), nonprofit crypto processors, crypto exchange, and a wallet. The easiest way to accept crypto donations is through another 501 (c) (3) organization set up expressly to receive and convert cryptocurrency donations for other nonprofit organizations.

Do nonprofits take crypto?

Some nonprofits were quite early to crypto. For example, Save the Children started taking Bitcoin donations in 2013, to aid in recovery efforts after Typhoon Haiyan struck Southeast Asia. As global crypto adoption has grown, so has the popularity of donating and accepting cryptocurrency. Today, thousands of charitable organizations take crypto.

What is cryptocurrency and how can it help nonprofits?

With a digital currency, people are no longer reliant on a financial institution, like a bank, to hold their money. “Cryptocurrency as a donation method has everything a donor looks for when contributing to a nonprofit,” said Pat Duffy, co-founder of The Giving Block. “It’s almost as if it was made in a lab specifically for nonprofits.”