Cryptocurrency donations are experiencing explosive growth, transforming the philanthropic landscape. According to Fidelity, crypto donations soared from $28 million in 2020 to a staggering $330 million in 2021. This surge highlights a significant shift in how donors contribute to charitable causes. Interestingly, surveys indicate that the crypto community is more philanthropic than the average donor, making it a powerful force for good.

As of 2023, the trend of increasing cryptocurrency donations continues. Reports from major financial institutions indicate that the volume of crypto donations has continued to grow, reflecting the broader adoption and acceptance of digital currencies in various sectors, including philanthropy. This ongoing growth underscores the importance of nonprofits being equipped to handle and process crypto donations effectively.

If you’re part of the generous crypto community, thank you. Infinite Giving is here to facilitate your cryptocurrency donations, ensuring that your contributions make the maximum impact.

The IRS treats cryptocurrency donations similarly to stock gifts. This means your crypto donations are completely tax-deductible, providing significant benefits:

Donating cryptocurrency can reduce your taxable income, resulting in potential savings on your tax bill. When you donate crypto to a qualified nonprofit like Infinite Giving, you can deduct the fair market value of the cryptocurrency at the time of donation from your taxable income.

One of the most compelling reasons to donate cryptocurrency is the ability to avoid or offset capital gains tax. If you were to sell your cryptocurrency, you might incur capital gains tax on the appreciation. However, by donating the crypto directly to Infinite Giving, you can bypass this tax entirely. This allows you to donate more to your chosen cause, maximizing the impact of your gift.

Once your crypto gift is received, we will liquidate it immediately into cash or reinvest it for the nonprofit. This ensures that your donation can be put to work right away, supporting the critical missions and programs of the organization. A 1% transaction fee will be applied to cover the costs associated with processing the donation.

Donating cryptocurrency offers numerous benefits, from tax deductions to avoiding capital gains tax. Infinite Giving is dedicated to making your crypto donations as seamless and impactful as possible. This season, consider making your nonprofit donation in cryptocurrency and experience the advantages of this modern approach to giving.

For more information or to initiate your cryptocurrency donation, please contact our team at Infinite Giving. We are here to assist you every step of the way, ensuring that your generosity is maximized and your philanthropic goals are achieved.