NeighborImpact, a nonprofit supporting people and strengthening communities, is now accepting cryptocurrency donations via Every.org including Bitcoin, USD Coin, Ethereum and more. Cryptocurrency has reached a market cap of $2 trillion in 2021. While the asset class remains volatile, it is the fastest growing asset of the decade. With the addition of the first Bitcoin ETF and integration of crypto into everyday payments platforms such as PayPal and Venmo, cryptocurrency is becoming more and more integrated into people's lives. Similar to donating equities or other appreciating assets, there can be significant tax advantages to donating cryptocurrency directly. Since the IRS classifies donated cryptocurrency as property, donating it is not a taxable event. This means donors do not have to recognize capital gains on donations of appreciated crypto. If they held it for over a year, they may even be able to deduct the fair market value on their taxes. The crypto donations are suppo
NeighborImpact is now accepting cryptocurrency donations
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Giveli st Launches Campaign to Raise over USD $1 Million for humanitarian Support to the People of Afghanistan
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Giveli st Launches Campaign to Raise over USD $1 Million for humanitarian Support to the People of Afghanistan
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SAN FRANCISCO, April 27, 2021 /PRNewswire/ The migration toward digital payments continues to accelerate, driven by the COVID-19 pandemic and the increased interest in mainstreaming digital currencies from consumers. With the adoption of cryptocurrencies, bringing with it clear advantages in terms of financial inclusion and access, more donors are inclined to contribute philanthropically. However, with only 12% of the biggest charities accepting crypto, nonprofits who cannot accept these digital tokens may be leaving money on the table.
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