Is Your Nonprofit Ready to Accept Crypto Donations?

by | Aug 9, 2022

Is Your Nonprofit Ready to Accept Crypto Donations? Here Are Some Top Considerations for Choosing a Donation Platform.

Crypto donors are the future of giving for the nonprofit sector. Crypto Philanthropy is quickly becoming a fast-growing fundraising method as each year, more and more organizations are accepting donations in cryptocurrency.

The challenge for nonprofits, however, is making sure that they have the technological support to accept crypto and are able to embrace the largest portion of the crypto community as possible. Getting set up and maintaining your crypto donation system can be a very specialized process, as well as time-consuming.

If you’ve taken the time to learn everything you need to know about crypto and feel ready to have your organization begin crypto fundraising, these are the top questions you should ask yourself before you dive in.

How Many Cryptocurrencies Are You Going to Accept? 

There are thousands of different kinds of cryptocurrency in existence, and nonprofits aren’t restricted to just accepting Bitcoin. Your organization can have the ability to accept donations in dozens of cryptocurrencies, ensuring that you’re able to connect with a large portion of the crypto community. 

More than 70 leading cryptocurrencies can be processed through The Giving Block, including: 

  • Bitcoin
  • Ethereum 
  • USD Coin 
  • Solana
  • Dogecoin 
  • Polkadot 
  • ApeCoin

Will You Convert to Cash or HODL?

When nonprofits receive a crypto donation, they have two options: transfer the crypto immediately into cash and take the donation at its current market value, or keep the crypto for the long term (what’s known as HODLing). 

Understanding the pros and cons to both options is an essential aspect to being ready to accept crypto donations. However, not all crypto donation processing solutions allow for this flexibility. While it’s up to your nonprofit to decide on its priorities, consider that not having the ability to HODL may limit your organization’s ability to maximize the impact of your crypto donations.

Is Your Donation System Secure? 

Security is essential for donations, particularly crypto donations. Crypto donors and the larger Web3 community are especially cautious about avoiding scams or having their crypto accounts hacked. 

Any cryptocurrency donation processing platform should have comprehensive security measures in place, such as: 

  • 24/7 security scanning
  • Protection against DDOS attack
  • Encryption to protect sensitive data

This concern for safety is also why all of The Giving Block’s nonprofit clients can host a unique donation page on The Giving Block’s website with their Donation Form. As a result, a crypto donor can be certain that donations made on our website will be sent to and received by the intended nonprofit. 

How Familiar Are You With the Crypto Community? 

Beyond the technical aspects of crypto donations, it’s also important to have an understanding of the community that uses crypto. Do you know the best social media platforms to use for donation appeals? What makes the crypto donor demographic different from other donor demographics? What kinds of questions do you believe donors will have for you? 

After establishing a fundamental understanding of the crypto community, you’ll fully be ready to start accepting crypto donations. 

Need help with some of these questions? Get our free PDF download, Crypto Fundraising 101: A Beginner’s Guide for Nonprofits, to find out more information.

| Reading Time:

Related Articles

How Crypto Donations to Tech and Science Nonprofits Are Helping to Close the Gender Gap Women are still a significant minority in scientific fields. Find out how crypto donations to tech and science nonprofits are helping to close the gender gap.
Transforming Childhoods with Crypto Donations and Web3 Innovation Upbring is a nonprofit using the innovations of crypto and web3 to fundraise and deliver impact to its community in new ways.

Featured Articles


Related articles

Year-End Giving: Why Donate Crypto By December 31? December 20, 2023 Posted in: Donors The largest giving day for the nonprofit sector is December 31. Here's how to make your crypto donation during the year-end giving season. Read more
Leading the Charge on Eliminating the Appraisal Requirements for Crypto Donations - BLOG | The Giving Block Leading the Charge on Eliminating the Appraisal Requirements for Crypto Donations September 7, 2023 Posted in: Company News, Donors, Nonprofits Current appraisal requirements unnecessarily burden cryptocurrency donors. Simpler requirements will help donors and charities, and keep philanthropy’s future bright. Read more
Donation Donation Form | The Giving Block 5 Ways Your Crypto Donation Can Support Mental Health Awareness May 12, 2022 Posted in: Cause Awareness, Donors May is Mental Health Awareness Month. Show your support with a crypto donation and by being an advocate for destigmatizing mental health. Read more