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Benefits of Donating Cryptocurrency to Charity

It is safe and efficient

The combination of simplicity, security and efficiency with reasonable tax benefits encourages anyone considering a crypto gift. Donating with digital currency is also more secure than using a check, credit and/or debit card. Blockchain transaction security is strict and as such protects you, your donation and the benefits you donate to.

Transparency

Most people who don’t want to donate often cite a lack of transparency. Over the past decade, we have seen confidence begin to erode on several fronts. This is an important issue for non-profit organizations, churches and charities. Crypto lets you know exactly where your money is going. Everyone who uses crypto has a public ledger on the blockchain, which adds even more visibility – and peace of mind – to the gift.

Speed of execution

Besides being an expensive and lengthy process that can take days and even weeks to complete a transfer, crypto is incredibly faster than international fiat transactions. Unlike fiat/currency transactions, which may require signing documents and even visiting a financial institution in person, a crypto transaction can be completed in minutes from the comfort of your home.

A more inclusive financial system

People do not need to get permission from any financial institution or government to use the crypto-digital ecosystem. And you usually don’t even need a bank account. There are literally billions of people in our world today who are “unbanked”, meaning they have no access to financial systems. With Crypto – even on the go – all you need is a smartphone and you effectively become your own bank.

Tax savings

Sometimes simplicity, security, efficiency and transparency are not enough. Fortunately, there are great tax savings to be had by donating crypto. Donations to non-profit organizations are tax deductible. All organizations, like Food for Life Global, are IRS 501(c)(3) non-profit organizations that give donors a tax deduction. Instead of selling an investment – like stocks – you can donate crypto directly to FFLG. Avoiding the annual headache of extra taxing work will put a smile on someone’s face. Regardless, work with a tax advisor to maximize your personal tax situation and make it as much of a blessing for you as it is for FFLG.

Transactional freedom

One of the best advantages of digital crypto is that it allows value to be exchanged between two parties – independent of a third/middle party. This, in turn, makes the exchange of goods freer, faster and more resistant to censorship. Banks and other payment processors may decide to terminate services to anyone, anytime, anywhere, for any reason. Using crypto circumvents this concern as the individual oversees their account.

24/7/365 Market

Banks, Credit Unions, and Stock Markets have set days and set hours of operation. Crypto markets – on the other hand – trade 24 hours a day, seven days a week – ALL year long – without exception. The only issue crypto has to deal with as “interrupters” is a power or internet outage… which would also affect any financial institutions as well.