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ARTICLE · 22 MAY 2024

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Donations Of Cryptocurrency: Tips And Tricks For Charities

Miller Thomson
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Crypto is booming, and some charities have been quick to see its fundraising potential. Indeed, a 2021 study by Fidelity Charitable found that 45% of cryptocurrency investors donated $1,000 or more to charity...

CanadaTechnology
Emmanuelle Laliberté
Emmanuelle Laliberté
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Crypto is booming, and some charities have been quick to see its fundraising potential. Indeed, a 2021 study by Fidelity Charitable found that 45% of cryptocurrency investors donated $1,000 or more to charity in 2020, compared to 33% of the "general investor" population. However, before taking this route, charities ought to develop a solid implementation plan and adopt clear policies to manage crypto risks and meet their legal and tax obligations.

PRACTICAL APPLICATIONS

Charities have a host of issues to consider before accepting donations of cryptocurrency, such as whether this funding is consistent with their governing principles and values. For instance, given the ecological impact of cryptocurrency mining, charities in the environmental sector may debate whether this donation stream aligns with their mission, or consider accepting only green cryptocurrencies.

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