goDonate, the digital fundraising platform, is announcing a partnership with The Giving Block, the leaders in crypto philanthropy, to enable charities to accept cryptocurrency donations from supporters.
The partners’ integrated services will provide charities of all sizes with a straightforward way to offer cryptocurrency donations alongside more traditional fundraising methods.
Cryptocurrency and donor potential
With the crypto bull market ramping up, now is an opportune time to empower your charity to accept Bitcoin, Ethereum, USDC and other cryptocurrencies. Almost 600 million people use crypto worldwide, largely Millennials and Gen Z. Many donors have turned to cryptocurrencies as their preferred asset for charitable giving due to the highly incentivising tax benefits, which include not having to pay capital gains tax on donated crypto.
How it works
Charities using this innovative integration will now be able to display crypto as a giving option directly in their online donation form through goDonate. When charities increase their giving options to include crypto, they can meet donors based on how they prefer to give, as well as convert and retain more high-value donors.
The integration technology instantly and automatically converts a crypto donation to cash, eliminating any need for the charity to worry about price volatility. While the majority of charities choose the automatic conversion option, this can be switched off for those who may want to hold the crypto to monitor its value before eventually choosing to sell.
goDonate is offering the service to existing goDonate Plus clients free of charge and without any additional annual fees. Along with access to this integration, charities will also receive access to fundraising communication strategies for crypto users and tips on how to target new cryptocurrency donors.
Vicky Reeves, Managing Director of goDonate, said: “Our combined service is straightforward, fast and free to set up. This is a boon for third-sector organisations seeking to engage high-value, tech-savvy individuals who are using cryptocurrency.
“This is a potentially huge and therefore vital income stream for charities, regardless of their size and existing donation channels. But it’s important to realise that if your organisation doesn’t give cryptocurrency users the ability to donate with it, they’re likely to give to another charity that does.
Alex Wilson, Co-Founder at The Giving Block, which works with more than 2,000 non-profits on non-cash fundraising strategy, commented; “The rise of the unique community of modern philanthropists represents a growing yet largely untapped target market for charities. Crypto users are prepared to make comparatively generous donations but often lack the option to do so, according to insight. Providing them with the smoothest possible donor journey is an important aspect of persuading them to become ongoing supporters.”
