Nonprofits explore the newest fundraising frontier: Cryptocurrency [Devex Article]

A growing number of nonprofits and charitable organizations are beginning to accept donations in the form of Bitcoin, Ether, and other popular cryptocurrencies.

Most notably, UNICEF recently announced the launch of the Unicef Cryptocurrency Fund. At The Giving Block, our nonprofit clients typically choose to convert crypto donations to US dollars immediately upon receipt, to avoid volatility from fluctuating crypto prices. Interestingly, UNICEF will not be converting crypto donations to US dollars, and will instead be holding.

UNICEF is the first U.N. agency to accept “crypto as crypto without converting it,” said Chris Fabian, who co-founded UNICEF’s Innovation Unit and leads UNICEF Ventures. [Source].

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Alex Wilson, founding partner of The Giving Block shared his thoughts on crypto philanthropy, converting crypto donations, and other intriguing topics.

“Crypto is scary altogether for nonprofits, and converting it right away is generally the only way they’re willing to touch it.” — Alex Wilson, co-founder, The Giving Block

Read the full article on Devex, HERE.

The Giving Block makes learning about and accepting cryptocurrency donations easy. Learn more about how The Giving Block can help your organization elevate its impact by equipping you with the tools to accept cryptocurrency donations, here:

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