FAQs for Crypto Donors
Have a question about donating cryptocurrency to charity or our giving platform? Find the answers here.
Where can I donate cryptocurrency to lower my taxes?
More than 1,500 nonprofits accept cryptocurrency donations via The Giving Block—browse through the listings to find one (or more) to support. Donations to most of them are tax-deductible—and you may also be able to save even more through tax benefits available to crypto donors. To check if you qualify to receive tax benefits from donating cryptocurrency, please consult with a professional tax advisor.
How do I lower my taxes by donating crypto?
By donating crypto to nonprofit organizations, crypto donors are eligible for huge potential tax savings. While each donor has a unique financial situation, the IRS has classified cryptocurrencies as property, much like stocks, so users may be able to deduct their crypto donations to reduce their overall tax bill. We offer informational resources on crypto donations and taxes, but please consult a tax advisor about your specific circumstances.
Why donate cryptocurrency?
When you donate crypto to a registered charity, you do not recognize capital gains from the donation and can deduct it on your taxes. In other words, donating your crypto can often reduce your tax burden. Would you rather donate to the IRS or your favorite cause?
Which nonprofits accept cryptocurrency donations?
Check out our roster of more than 1,500 nonprofits currently accepting crypto donations.
I want to donate anonymously. Is that an option?
Yes, we understand that privacy is a top concern for many people. That’s why we have the option for donors to give anonymously. Please note that, while most nonprofits allow for anonymous donations, each nonprofit has the option to turn this option on or off.
Can I donate anonymously and still get a tax receipt?
With us, you can. We have an option for donors to submit only an email in order to receive an automatic tax receipt. This option is not supported by all of our nonprofits, but most of them allow anonymous donations.
Why donate Bitcoin and other cryptocurrencies through The Giving Block?
We’re more than a technical solution for nonprofits—we help them fundraise and connect with the diverse community of crypto donors, from NFT creators to the occasional whale.
Two words – cryptocurrency adoption. Our goal is not only to set up nonprofits to accept cryptocurrency donations, but for them to talk about crypto, driving adoption. When you support one of our nonprofits, you support a nonprofit who is vocal about crypto.
Can I donate cryptocurrency directly—or do I have to convert it to cash first?
No need to convert it! Instead of selling your Bitcoin or another cryptocurrency and donating the after-tax proceeds, you can donate your Bitcoin and other cryptos directly to charities and other nonprofits, which means your tax deduction will be the same as the market value of the donation.
How do I get a nonprofit onboarded to TGB?
If you’re interested in making a crypto donation to a nonprofit not currently supporting crypto, let us know and we’ll set them up!
Who do I speak to about setting my NFT project up with TGB?
NFT projects and platforms have been incredibly generous in donating to nonprofits. If you would like to discuss ways your NFT project can make a charitable impact, let us know.
I want to make a large donation. Can someone assist me with the details and gift execution?
Yes, our Institutional services team can help you execute a large donation. Please visit The Giving Block Institutional for assistance.
How can I donate a crypto that isn’t accepted on your website?
We accept more than 70 cryptocurrencies, but are also able to process donations for other tokens occasionally. To inquire about donating a cryptocurrency that is not currently supported by our Donation Form, please contact us.
Do you have any stats about crypto donations?
Yes, we do. Our recent 2021 Annual Report contains many statistics and insights about Crypto Philanthropy today.
Can I read any case studies about nonprofits that work with you?
Yes, you can read several case studies and testimonials about nonprofits that accept cryptocurrency donations with The Giving Block.
Why does TGB use dynamic addresses? Can I re-use old addresses?
When using The Giving Block Donation Form you’ll notice that a new wallet address is created every time. This is because The Giving Block uses dynamic wallet addresses. This is done to protect the privacy of donors and nonprofits. These security measures help prevent third parties from viewing your transaction history simply by copying and pasting the wallet address or TXID into a block explorer. All addresses that are generated are associated with your donor information and the nonprofit forever. This means that you can reuse the address as often as you’d like or you can generate a new one each time. It’s up to you. In some cases, users want to re-use an address because they’ve added it as a payout address in an app or smart contract. Note that for ETH, after the first donation is sent, the address is converted to a smart contract. The address is associated with your donor information so that every time you donate, if an email address was provided, you will automatically receive a receipt as soon as the transaction is confirmed on the blockchain.
I can’t find the answer to my question here.
Please contact us and we will be glad to assist you.