FAQs on donating crypto to charity
Cryptocurrency is rapidly transforming how we drive positive change and has the potential to allow donors to support global causes with unmatched efficiency and impact. Like with any technological innovation though this change brings with it a lot of questions.
Save the Children have been pioneering supporting the rights of children everywhere since our founder Eglantyne Jebb penned what would become the United Nations Convention on the Rights of the Child (UNCRC) over 100 years ago. Through The Giving Block, we’re now accepting cryptocurrency donations so you have more modern options to support our work.
Below, we address some of the most common questions about how you can make a difference through cryptocurrency donations.
What charities accept crypto donations?
Uncertainty is natural with any new technology, especially when it comes to finances and providing aid. This is why Save the Children Australia has partnered with The Giving Block to accept crypto donations. Their platform has been around for more than 5 years and is trusted by over 1,700 organisations worldwide so you can be confident that your donation is being handled securely by experts.
Why donate crypto instead of cash to Save the Children Australia?
While you can absolutely still give through traditional currency, donating cryptocurrency to Save the Children also funds essential programs in health, education, and protection for children worldwide. Moreover, by donating cryptocurrency, you could benefit from significant tax savings as cryptocurrency is treated as an asset in Australia.
Donating through The Giving Block on our site is also convenient, quick, and secure, with cryptocurrency donations directly to charities taking as little as 10 minutes to reach the organisation you can make an impact on the lives of children as fast as possible.
How do I donate cryptocurrency to Save the Children?
Donating cryptocurrency to Save the Children is straightforward:
- Choose your cryptocurrency from our list of accepted options.
- Enter the amount you'd like to donate.
- Provide your details to receive a tax receipt, or choose to donate anonymously.
- Complete the transaction securely through our trusted partner, The Giving Block.
The entire process is designed to be quick and user-friendly, ensuring that your donation reaches us with minimal effort on your part.
Which cryptocurrencies do Save the Children accept?
Save the Children accepts a variety of cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH) so you can choose the digital asset that works best for you. Our list of accepted currencies continues to grow to accommodate all donors, but currently over 100 different cryptocurrencies are accepted.
Are cryptocurrency donations to Save the Children secure?
Unlike traditional donation methods, cryptocurrency (and blockchain technology more broadly,) relies on thousands of computers to verify transactions so your donation is potentially not just faster but also more secure than ACH or wire transfers as it’s nearly impossible to tamper with the ledger of your transaction.
The Giving Block also uses a cutting-edge secure cloud architecture and vigilant threat monitoring to protect your transaction and data, ensuring your donation reaches those in need without risk.
Are crypto donations to Save the Children tax-deductible?
Yes, cryptocurrency donations to Save the Children Australia are potentially tax-deductible, thanks to our Deductible Gift Recipient (DGR) status. Donating crypto also might not incur capital gains tax on the disposal of your asset in specific circumstances, thereby offering a more tax-efficient way to contribute. However, we recommend consulting with a tax professional to understand how this benefit applies to your specific situation.
How will I receive a tax receipt for my cryptocurrency donation?
Once your cryptocurrency donation is processed, a tax receipt will be sent to your email. You’ll need this for tax deductions, so ensure your email address is accurate during the donation process if you’d like to take advantage of this.
What are the environmental impacts of cryptocurrency donations?
Some cryptocurrencies, especially those using Proof-of-Work, have environmental concerns due to their high energy requirements. Save the Children encourages donations in eco-friendly options like Proof-of-Stake currencies, which consume less energy.
Additionally, our partner, The Giving Block, offsets carbon emissions of donations to achieve and maintain their status as a carbon-negative organisation, helping to mitigate the environmental impact of your donation.
How can I make a large cryptocurrency donation to Save the Children?
If you’re considering a large cryptocurrency donation, Save the Children is here to help you maximise its impact. We’ll work closely with you to ensure your contribution aligns with your philanthropic vision. For personalised guidance, don’t hesitate to contact us directly.
Support save the Children with your Crypto Donation
Your cryptocurrency donation can make a real difference in the lives of children around the world. By donating, you can enjoy the benefits of tax efficiency while helping us deliver crucial support to those who need it most, faster and more effectively.
Your support can create a lasting legacy of hope and change. Don’t wait - take action today and Donate Cryptocurrency to Save the Children.