Why do so few nonprofits accept cryptocurrency? I suspect that it's because organizations don't realize how easy it is to accept these types of gifts. You don't need to know anything about cryptocurrency to accept it - in fact, it's helpful to think of it the same way you think of a stock donation.
Just like a stock donation, cryptocurrency should be immediately sold and distributed in fiat (government backed) currency. Just like stocks, they tend to be larger gifts and come in at the end of the year. Just like stocks, you'll want to use a third party to do this for your nonprofit.
Here are some trustworthy ones you can use in the US and Canada:
- The Giving Block (https://thegivingblock.com/)
- Every.org (https://www.every.org/crypto)
- BitPay.com (https://bitpay.com/nonprofits/)
All three will accept the cryptocurrency donation and then send you the funds in cash. The payout and fees vary.
2024 has been an exceptional year for cryptocurrency, and the next few years seem poised to continue the trend. With few nonprofits accepting this type of donation, having it available for your donors can be key in securing these gifts.
Hopefully this has inspired you to take the plunge!
