Giving What We Can supports making donations in cryptocurrency. Cryptocurrency (crypto for short) is a type of digital currency, secured by cryptography. Common cryptocurrencies include Bitcoin, Ethereum, and Tether.
Why donate with crypto in general?
Cryptocurrency is an asset, a little bit like shares in a company. Cryptocurrencies are traded just like shares, and have value that can be expressed in terms of regular (fiat) currencies, like USD or GBP.
You could always just sell some of your cryptocurrency (i.e. converting the value back into a regular currency), and then donate the proceeds. However, it might be better to donate the cryptocurrency instead, for two main reasons:
Potential tax benefits: Because in most jurisdictions cryptocurrencies are handled as an asset, selling them (and making a profit based on what you originally paid for them) may incur capital gains tax (CGT). If you instead donate the cryptocurrency, you might avoid a capital gains event. (This shouldn't be treated as tax advice, and you should consult with a tax professional regarding the relevant laws in your country.)
Simplicity: If you already own cryptocurrency, then it saves you the extra hassle of going to an exchange, selling your crypto, waiting to withdraw the proceeds, and then finally making a donation.
Why donate with crypto using Giving What We Can?
Giving What We Can is one of the best places to donate with crypto:
Lowest possible fees: Many crypto donation platforms charge processing fees of between 1% and 5% (or more). We're working directly with an exchange, so our fees are as low as they can possibly be, and we don't charge any additional processing fees.
Big selection of coins and tokens: You can donate in over 30 cryptocurrencies on various chains.
Institutional experience: We've been accepting crypto donations since 2017.
Registered charity status: Giving What We Can is a registered charity in the US and UK, and has ANBI status in the Netherlands. We accept donations according to local laws. For detailed information about tax deductibility, please consult with a tax professional.
Support for highly effective charities: We research and support the most effective giving opportunities. This means your crypto donation can have an even greater impact. Learn more about effective giving.
Counts towards your Pledge: If you're a Giving What We Can Pledger, your crypto donation will automatically count towards fulfilling your pledge commitment.
How to donate with crypto using Giving What We Can?
or contact us at tech@givingwhatwecan.org with your full contact information, amount, and currency.
Please note that we can only accept donations equivalent to > $5,000 USD. For donations that don't meet this, we recommend converting them to fiat currency first and then donating through our donation portal.
After contacting us, we'll send you further payment instructions through email.
Frequently Asked Questions
What cryptocurrencies and chains do you support?
We offer support for any cryptocurrency available on Kraken Spot that can be converted to USD.
What's the process?
You fill out the donation request form.
After an initial due-diligence check, we send you a wallet address to send the crypto to.
After receiving the crypto donation, we liquidate it and send you a receipt with the amount of crypto and the liquidation value.
How long does it take to process?
This is a manual process, and we strive to complete it as quickly as possible, usually within 2-3 business days. If you prefer special timing, please mention it in the form. If you are concerned about price fluctuations, it's usually best to donate in a stablecoin like USDC.
Do you accept anonymous donations?
No, we require your full name and address to process crypto donations. Therefore, we cannot accept donations from smart contracts or anonymous sources. In cases where we cannot accept the donation, we might be forced to send it back to the address that sent it.
Can I claim Gift Aid for my crypto donation?
No, HMRC does not consider cryptoassets to be currency or money, so any donations of cryptoassets will not be eligible for Gift Aid.
If cryptoassets are converted to 'money' then the converted 'money' can be donated to charity under the Gift Aid scheme, subject to normal qualifying conditions applying.
The donor must convert cryptoassets into 'money' before donating it to the charity and should bear in mind any personal Capital Gains Tax implications.