Building Community with Cryptocurrency
With Bitcoin halving and the crypto market surging, cryptocurrencies are a hot topic right now. But did you know they can be used to fundraise for our mission? We currently accept a wide variety of cryptocurrencies, including Bitcoin and Etherium! If Bitcoin hits a new all-time high this year, a donation of just 1 BTC would go a long way towards ending the cycle of poverty and illiteracy across the globe. Here’s a few helpful FAQs about using crypto to donate to buildOn:
What is cryptocurrency?
Cryptocurrency, also called crypto, is a digital payment system that doesn’t rely on banks or governments to verify transactions. It exists only electronically, not as physical coins or bills, and there’s no central authority controlling it, unlike traditional currencies. Cryptocurrencies use cryptography for security, making them difficult to counterfeit or hack. Transactions are secured through a vast network of computers across the globe. Bitcoin is the most well-known cryptocurrency, but there are thousands of others in existence.
Why should I donate using cryptocurrency?
In many countries, donating cryptocurrency held for more than one year qualifies for a capital gains tax deduction. This means you can potentially reduce your tax burden while supporting a worthy cause. Additionally, donating cryptocurrency is a quick and easy process, as we’ve partnered with The Giving Block for secure and streamlined crypto donations. Cryptocurrency eliminates the need for intermediaries, which can reduce processing fees and ensure a larger portion of your donation goes directly into funding our programs. Finally, the value of some cryptocurrencies can hold steady or even increase over time, meaning that your donation won’t be undercut by future inflation and will help stop the cycle of poverty and illiteracy for years to come.
Ready to donate to buildOn using cryptocurrency?
Get started or learn more about other ways to give to buildOn here on our website. If you have additional questions, please reach out to Aled Hollingworth, our Vice President of Development, at aled.hollingworth@buildon.org