Embracing the Future of Giving with Cryptocurrency and Stock Donations
October 16, 2023
As we enter a fast-growing digital landscape, many organizations and non-profits have begun exploring new ways to secure funding to broaden their impact. Earlier this year, we implemented a new donation tool called The Giving Block that streamlines cryptocurrency and stock donations to Amazon Conservation. Cryptocurrency and stock donations have now become powerful tools that reshape the way charitable contributions are made, providing tax benefits that non-cash donations offer.
Why did we decide to start accepting these donation methods? Accepting cryptocurrency and stock donations can be highly beneficial for both us and donors.
- Diversifying Donation Methods: Accepting cryptocurrencies and stock donations can help us become less reliant on traditional forms of fundraising, creating a more stable and secure financial base
- Lower Fees and Transaction Costs: There are often lower fees in cryptocurrency transactions and stock donations compared to traditional banking and credit card transactions, meaning more of the donation can go directly to our conservation work rather than a third-party holder
- Potential for High Donations: Some stocks and cryptocurrencies such as Bitcoin and Ethereum have had significant increases in their value over time. Especially with crypto, those who contribute could donate more than what they traditionally would in regular currency donations, especially if these assets have been held for a while
- Donor Tax Benefits: In some countries, donating cryptocurrency or stock can have tax advantages for the donor. By accepting these kinds of donations, we now have the potential to attract donors who are looking for ways to maximize their charitable contributions while optimizing their tax liabilities
- Transparency and Accountability: Blockchain technology can help secure and publicly verify digital transactions, allowing donors to see how exactly their contributions are being used by us, and thus creating trust with the donor
- Appeal to Younger Demographics: Accepting cryptocurrency and stock donations can be seen as a modernized approach to tech-savvy and younger donors familiar with digital currencies and assets, helping us reach out to a demographic that may not be used to traditional fundraising and donation methods
While there are many beneficial reasons for us to accept crypto and stock donations, we acknowledge that we must consider the volatility of the value of these assets. For more information on our cryptocurrency and stock donations, please visit our page here to learn more.