In recent years, digital assets could occupy the place that other financial tools have been taking for decades. Thanks to this, many skeptics moved to the opposite camp and now sincerely believe in the revolutionary power of digital assets. Read more about how crypto is reshaping the sphere of donations in today’s article.
Key Points:
- Cryptocurrency is a perfect way to raise funds for a great cause quickly, efficiently, and transparently.
- There are many ways to attract crypto enthusiasts to your charity.
- NOWPayments is a crypto payment gateway capable of finding solutions for organizations of any scale.
Cryptocurrency Donations
Blockchain technology has turned the world of giving upside down. Today, thousands of organizations around the world are opening their doors to crypto donations, issuing charity coins, and even creating NFT collections to raise funds. Cryptocurrency and donations complement each other perfectly.
The blockchain technology underlying cryptocurrencies allow donors to track donated funds, which ensures the accountability of organizations and promotes transparency. In addition, crypto donations have other advantages, such as speed and low fees. But perhaps the most important argument in favor of crypto donations is that they allow banking the unbanked. To accept crypto donations, a person needs only a smartphone and the Internet, which, fortunately, is much more common than a bank account in some parts of our planet.
Crypto Fundraising Platforms
The role of crypto donations continues to grow. As a result, many crypto fundraising platforms were created to facilitate the interaction of donors and charitable organizations.
Non-profits can publish detailed information about their mission on these platforms, and donors study it and decide on donations. Today it is the most transparent and secure scheme. The most famous platforms include:
- Every.org platform brings together charities and donors worldwide. A user can create a personal account and study and donate cryptocurrency to more than a million registered charities.
- The Giving Block is perhaps the most well-known and trusted platform that allows charities to organize fundraising. The platform regularly publishes reports and guides, and the best thing is that this platform allows you to reduce donors’ capital gain tax.
- Fidelity Charitable is another worthwhile platform that allows donors to donate cryptocurrency to more than 500 publicly registered charities. By creating a personal Giving Account, a donor can not only contribute to their favorite charities but also receive instant tax deductions and even in some cases grow tax-free.
In addition to these and many other platforms, charities and non-profit organizations can use the services of crypto payment gateways to start accepting crypto donations with fewer intermediaries. For example, NOWPayments provides easy-to-use donation tools that help non-profits accept donations in more than 150 cryptocurrencies from supporters around the globe.
Crypto Fundraising Events via Point of Sale?
Yes. Moreover, it has many benefits. Firstly, you save significantly on the installation of equipment. Often offline charities spend incredible amounts on installing PoS devices, but these funds could help those in need, rescue animals, etc.
In addition, do not forget that thanks to the borderless nature of cryptocurrencies, a donor living abroad will be able to easily contribute without having to convert currency.
To start accepting crypto donations through a PoS terminal, you just need:
- Create your NOWPayments account.
- Go to “Settings” >> “Payment settings”.
- Add your crypto address and generate an API key.
- Go to the “Payment tools” >> “PoS terminal link”.
- Create and copy your own PoS terminal link.
- Open the link on your phone, tablet, or laptop.
- Enter the donation amount.
- Allow the donor to scan the QR code and send you a donation.
Crypto-based Impact Investing
In addition to direct donations using cryptocurrencies, you can also contribute to companies generating social and environmental impact and receive a financial return. For example, you can purchase shares of companies specializing in alternative energy, water purification, waste recycling, or even the development of electric vehicles. By investing in such companies, you not only make this world a better place but also receive income from your contribution. At the same time, cryptocurrency allows you to make your investments transparent, reduce transaction fees, and has the main advantage — global reach — so you can quickly and cost-effectively invest in any company located halfway across the world.
Non-fungible Token (NFT) Auctions
Art and charity have always been closely pegged, starting from the activities and active social position of famous artists and ending with the “healing” power of music and drawing. Perhaps the most original way to attract public attention to raising funds for charity is NFT auctions.
The strategy is quite new, but it has already proven itself well as a way to inspire people to charity through art. NFT artists create a variety of works depicting objects dedicated to the theme of fundraising. After the sale, all profits are transferred to the account of charitable foundations and organizations. Several charity collections have already been released in recent years. Although these are one-time events used to raise money, all this gives hope for the development of this industry. The spread in the value of the NFT allows everyone to become a benefactor, no matter how small their efforts are. Everyone can have a work of art in the form of an NFT, which they can exchange or keep as a medal for their contribution to supporting the cause.
Perhaps the most famous NFT created for charitable purposes is the work of the famous artist Beeple. Mike “Beeple” Winkelmann broke the record in 2021 by selling a collage of 5,000 images ‘Everydays: The First 5000 Days’ for $69.3 million. Having gained fame, the artist decided not to stop there and contribute to the problem of the environment. Beeple sold the NFT ‘Ocean Front’ for $6 million and donated funds to the Open Earth Foundation.
How NOWPayments Can Help Raise Funds?
NOWPayments is the best crypto payment gateway via which charities can accept 150+ cryptocurrencies as donations. We provide competitively low fees, 24/7 support, as well as a variety of integration tools among which you will find the one that suits you perfectly. The easiest way to start accepting crypto donations is to create a personal donation link that you can post on your website or send directly to your donors.
- Create your NOWPayments account.
- Navigate to “Settings” >> “Payment settings”.
- Add your crypto address and generate an API key.
- Go to the “Payment Tools” >> “Donations”.
- Complete the URL and configure the listed fields.
- Copy and post the link on your website to receive crypto donations.
Conclusion
Cryptocurrency is capable of revolutionizing the world we live in. Today, more and more organizations of all stripes are already adopting digital assets. NOWPayments can help at every stage of the process of accepting crypto donations.