Widely regarded as the most tax-efficient and sustainable way of donating to a worthy cause, cryptocurrency donations have been growing in popularity right alongside cryptocurrency investing — and the trend is showing no signs of slowing down anytime soon.
Among the many cryptocurrencies launched in the last few years, Ethereum has certainly become one of the most well-known and reliable. That doesn’t necessarily mean all charities and international organizations will accept Ethereum donations from their supporters.
If you’re looking for charitable organizations that accept Ethereum and other crypto donations, you’ll have to do your research first and find out what charities will accept your Bitcoin, Ethereum, USD Coin, Dogecoin, or any other cryptocurrency.
The good news? Food for Life Global has been ahead of the trend for years, and we not only accept all the major cryptocurrencies, we believe crypto donations are the most efficient way to support our mission and eradicate food insecurity around the world!
If you want to donate Ethereum to support our cause, here’s all you need to know:
History of Ethereum
First launched in 2015, Ethereum is considered the second-biggest cryptocurrency after Bitcoin, and just like the leading crypto, it uses blockchain technology to facilitate decentralized, secure trading.
But while Bitcoin only allows you to make cryptocurrency transactions, Ethereum also offers smart contracts and EVM (Ethereum Virtual Machine), as well as allowing both permissioned and permissionless transactions.
The founders’ vision for a more accessible and versatile currency has received widespread support since the very start of Ethereum’s journey. Blockchain technology was a product of incredibly successful crowdfunding, raising over $18 million in 2014.
Ethereum and Charity
Ethereum co-founder Vitalik Buterin is no stranger to charitable giving: Earlier this year, he made headlines after donating a whopping $1 billion in crypto to an India Covid relief fund.
But why donate crypto to charity in the first place?
Cryptocurrencies like Ether have rapidly become one of the most popular ways to donate to charitable organizations as they are more tax-efficient than any other donation methods.
Ethereum donations are considered a non-taxable event, meaning that you will not owe any capital gains tax on the transaction and might be able to fully deduct the donation from your taxes.
Tax benefits for the donor are just a small part of what makes Ethereum and other cryptocurrencies so beneficial to charitable giving.
Donating Ethereum to a charity of your choice will also help the organization stretch each dollar that much further, as these donations are exempt from costly international bank and transaction fees.
This means that each crypto donation will be used in full to further the cause you want to support, with no money wasted on bureaucracy!
FFLG Accepts Ethereum and Other Cryptocurrencies
Not all international charities have embraced the benefits of this fast-acting, decentralized, and sustainable donation method, but Food for Life is proud to be one of the leading charitable organizations spearheading the change.
We have long partnered with the platform The Giving Block to open our doors to Ethereum, Bitcoin, and all other cryptocurrency donations, so we can use every cost-effective Blockchain donation to inch a step closer to our goal of ending child poverty and food insecurity worldwide.
Wondering how much impact you could have?
Consider that, as of the publication of this article, 1 Ether (ETH) is valued at over $3450, meaning that with a generous donation of 0.15 ETH and at the current 50 cents per meal cost, our team will be able to feed 33 children in need for an entire month! That’s about 1000 meals altogether!
As a digitally forward charity operating in over 100 countries around the world, accepting Ethereum and other crypto donations makes for the natural next step in our growth and sustainability goals!
How Does Ethereum Donation Affect Your Tax Bill?
The IRS classifies cryptocurrencies as property, so you can expect Ethereum donations to 501c3 charities to receive the same tax treatment as stocks.
While cryptocurrencies used to buy goods and services are generally taxed at 20 or 30%, your Ethereum donation can avoid capital gains taxation as you’ll be able to deduct the appreciated value of the currency.
So yes, Ethereum donations can be tax-deductible depending on your contribution and the fair market value of the cryptocurrency at the time of the transaction!
Donate Ethereum and Other Crypto to FFLG
If you want to make the biggest impact on the lives of thousands of children, donating crypto can ensure that every dollar you wish to send will provide healthy, sustainable plant-based food to the countries where the impact of food insecurity is felt the most.
Donate Ethereum, Bitcoin, and any other major crypto in the easiest way: