What You Need to Know about Cryptocurrency Donations for Nonprofits

Has the thought of accepting cryptocurrency donations for your school ever crossed your mind? If not, then there is no other better time to do so than now. And this doesn’t come as a surprise since crypto fundraising is among the fastest-growing donation methods in use today.

You might, actually, be surprised to learn that hundreds of millions of dollars’ worth of cryptocurrencies like Bitcoin are donated to charities every year. Read on to learn how this exciting fundraising strategy is worth pursuing for your organization.

Allows Nonprofits to Future-Proof their Organizations

The future may seem like anyone’s guess, but this uncertainty is precisely why nonprofits should take steps today so they can fundraise more confidently in the coming year. That could mean preparing your nonprofit for fundraising in a recession or economic downturn.

You can also choose to develop a digital-first strategy for times when in-person events become less popular. Accepting crypto donations is among the best way for your nonprofit to attain these desirable outcomes without struggling.

Crypto Users are Ideal Nonprofit Donors

A good chunk of traditional fundraising strategies like in-person galas and direct mail are often geared towards Silent Generation donors. These methods rake in a sizable annual donation volume that makes sense since today’s average cash donor is about 65 years old.

But what many fail to realize is that crypto users now represent a whole new category of donors, and they’re flying under the radar of most nonprofits, schools included. Crypto donors are typically young, affluent and passionate about the causes they support. They’re also relatively affluent compared to their peers.

Taking up crypto donation is an easy way to engage with a highly-generous and younger donor base you might not be currently reaching through other fundraising methods.

The Bottom Line

Remember, many major donor prospects enjoy the tax benefits of making crypto donations and with GC wallets, you can easily accept their charitable contributions. Hopefully, this simple guide can convince you into accepting crypto donations for your nonprofit organization in the near future.

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