6 Nonprofits that Accept Cryptocurrency

Usually, there are several questions regarding the issue of nonprofit organizations accepting crypto. Is it safe? Why should nonprofits pursue cryptocurrency donations? Is it worth their time? 

Cryptocurrencies are by far the most easily traceable, transparent and open financial system of all time. Because of this, non-profits should be looking at crypto as a reliable and trustworthy international revenue stream. With an estimated 100 million crypto users around the world, it is worth paying attention to this way of doing business. The numbers are significant, compared to the total Cashapp users (36 million) or Venmo (52 million) and other financial systems. And who are these growing numbers of investors of crypto coins? They are mainly Millennials and Gen Z, making up the biggest percentage of the next generation of donors.

Another reason for nonprofits to accept cryptocurrencies is the fact that they are tax-efficient (like stocks) and their company revenues can be diversified with young crypto donors. The IRS identifies cryptocurrency to be property for tax purposes, making it the most tax-efficient way to contribute to your chosen charity. If you donate a cryptocurrency, you get a tax refund on the fair market value, because whether you sold it first and then donated it, you don't have to incur capital gains tax. As a result, you'll be able to give away more and save more money on taxes.

Let’s get started with the top 6 nonprofits that accept cryptocurrency.

1. Food for Life Global 

Food for Life Global is the world’s largest food relief organization. Food for Life Global collects donations, which they use to supply plant-based meals to the hungry. So far they have served over 7 billion plant-based meals and have also made it possible for people to donate with cryptocurrencies. Food for Life Global is extremely cost-efficient and every donation supports their work to serve over 200 affiliates in 60+ countries. Food for Life Global accepts Bitcoin, Ether, Litecoin, Bitcoin Cash, Zcash, Doge, and more. 

They have recently partnered with the charity themed Milk and Butter Token, which are tokens focused on charitable giving. By investing in these tokens you help feed those in need quickly and efficiently. Butter tokens are earned through the staking of Milk tokens, which is a burn auto-liquidity token on the Binance smart chain. Any Butter transaction generates a 5% charitable fee that is placed inside a secure charity wallet. Butter token holders may then vote on which charity should receive these donations.

2. The Water Project

The Water Project is a non-profit organization committed to unlocking human potential by providing dependable water projects to communities in Sub-Saharan Africa that are suffering unnecessarily due to a lack of safe drinking water and sanitation. Clean hands necessitate the use of both soap and water. As the water crisis unfolds, The Water Project is working to keep vulnerable communities in Africa secure. This non-profit organization is among the first to accept donations in cryptocurrency for over six years! You can donate Bitcoin, Ethereum, Amp, Basic Attention Token, Bitcoin Cash, Chainlink, Dogecoin, The Graph, and several others to The Water Project.

3. Red Cross

The international Red Cross is the largest humanitarian network in the world. The Red Cross’s mission is to alleviate human suffering, protect life and health, and preserve human dignity, especially during armed conflict and other emergencies. It is a global organization with millions of volunteers. Humanity, impartiality, neutrality, independence, voluntary service, unity, and universality are its seven main principles. The American Red Cross has been accepting Bitcoin donations since 2014. BCH and BTC are accepted by the Red Cross as cryptocurrency donations. You may donate Bitcoin to the Red Cross on the relevant Bitpay website.

4. Unicef

Unicef has a 70-year history of helping children all around the world. This organization runs by its three main principles: provide life-saving info and services; engage young people in change; and help UNICEF meet children’s needs today and tomorrow. Unicef recently established its Uniced Cryptocurrency Fund to supply and facilitate open source technology, which will ultimately benefit young people globally. The first contributor to this cryptocurrency fund has been the Ethereum Foundation. 

“The Ethereum Foundation is excited to demonstrate the power of what Ethereum and blockchain technology can do for communities around the world. Together with UNICEF, we're taking action with the Crypto fund to improve access to basic needs, rights, and resources” - Executive Director of the Ethereum Foundation, Miyaguchi Aya.

5. Save the Children

For more than a century, Save the Children has provided a healthy start in life, opportunities to learn, and protection from harm to children in the United States and around the world. When a crisis arises, Save the Children go to great lengths to save children, forever altering their lives and the future we all share. They have partnered with The Giving Block and Gemini Trust Exchange to initiate and facilitate their cryptocurrency fundraise and they accept many cryptocurrencies such as; Bitcoin, Ethereum, Dogecoin, Amp, Bitcoin Cash, Dai, Litecoin, UMA, Gemini Dollar, etc.

6. Watsi

Watsi is a non-profit organization that utilizes online services which allow people to donate as little as $5 to help patients in third-world countries access low-cost, high-impact medical treatment. The procedures vary from the most simple, such as fixing a broken leg, to the most complex, such as removing an eye tumor. Watsi also accepts donations in the form of crypto. However, in comparison to other organizations which let you donate to whatever cause you choose, Watsi will use your contribution based on what they deem necessary and urgent. 

Conclusion

Whether a charity has fully accepted cryptocurrency through accepting several coins, promoting it on their website, or making it as easy as possible for donors, any nonprofit that accepts cryptocurrency donations is increasing the validity of cryptocurrency and fostering support while making a real difference across the world. Your contribution can be benefiting any number of good causes while helping to build a more sustainable and fair economy. Cryptocurrencies are on the rise and they are becoming more acceptable every day. Therefore, the fact that it is possible now to make donations with cryptocurrencies makes the process even easier. The 6 non-profits mentioned above are some of the best options to make a positive social impact.