As interest and investment in cryptocurrency, or “crypto,” has grown significantly over the last decade, crypto-giving has emerged as an exciting new field in the charity sector. Its unique tax incentives and other features have made cryptocurrency the preferred donation vehicle for a new generation of philanthropists. According to a recent study organized by U.S.-based nonprofit Fidelity Charity, nearly half of cryptocurrency investors donated US$1,000 or more to charity in 2020, compared to only 33% of the general population.
These promising trends suggest that crypto-philanthropy has the potential to become a powerful force for good. But what exactly is cryptocurrency? Why has it become such a significant part of the global economy? What makes it especially attractive to philanthropists young and old? And are there any downsides or risks to investing in or donating through crypto?
In our December 2nd virtual fundraiser, What Good is Crypto?, we’ve invited a panel of experts to help answer these and other questions about crypto and its enormous philanthropic potential. All donations made through the event will go to our recommended charity GiveDirectly. And we’re excited to share that we have secured a matching pool of US$600,000 for all crypto gifts. The match for crypto gifts will be a remarkable 2:1, which means that you have the potential to triple the impact of your donation! (Australian donors can donate crypto through The Life You Can Save to claim any eligible tax relief.)