Crypto Payments and Borderless Charity

Cryptocurrencies are making waves across different areas of modern life, and charity is no exception. Digital assets have revolutionized how donations are sent and received, ensuring global accessibility and transparency in fund distribution.

As of January 2024, 56 of the top 100 largest charities in the U.S. accept cryptocurrency donations, according to data from Giving Block. In total, over $2 billion has been raised this way. Analysts predict that within the next decade, the volume of crypto donations could increase fivefold, exceeding $10 billion.

Advantages of Crypto Payments for Charitable Organizations

Cryptocurrencies enable non-profits to receive donations from anywhere in the world, cutting out intermediaries and reducing operational costs. Digital assets also offer high transaction speeds, making them one of the most convenient, practical, and efficient tools for fundraising.

Some of the key benefits of using crypto in the charity sector include:

• Transparency of transactions. Every transfer is recorded on the blockchain, making it impossible to alter. This allows donors and organizations to track the full transaction history of each individual token, fostering trust by eliminating the risk of fraud or misuse of funds.
• Low fees. Traditional financial systems often involve high fees for processing payments, including charitable donations. Cryptocurrencies allow funds to be sent with minimal fees, making the process more cost-effective for non-profits.
• Global accessibility. Cryptocurrencies have no national or geographical boundaries, making them an ideal tool for international charities. This means anyone can donate from anywhere in the world.
• No chargebacks. Cryptocurrency transactions are irreversible, eliminating the possibility of chargebacks, a common issue with traditional payment systems. This irreversibility provides greater income stability and predictability for charities.

Charitable Organizations Accepting Crypto Donations

As digital assets become more popular and widely accepted, an increasing number of global charities are beginning to accept cryptocurrency donations. Some of these include:

• UNICEF has accepted cryptocurrency donations since 2019 to fund innovative projects through a specially created crypto fund.
• The International Red Cross accepts cryptocurrency donations to support humanitarian missions worldwide, particularly in conflict zones and disaster areas. The British Red Cross accepts over 70 cryptocurrencies, while the American Red Cross accepts BTC, BCH, ETH, DOGE, and stablecoins like GUSD, USDC, PAX, and BUSD. The Singapore Red Cross accepts BTC, ETH, PYUSD, USDT, and USDC.
• World Wildlife Fund (WWF) has been accepting crypto donations to support environmental conservation programs since 2018. WWF also tried to raise funds through an NFT collection, but the initiative was unsuccessful and shut down in 2022.
• The Water Project, a charity that provides clean drinking water in African countries, has been accepting Bitcoin and other cryptocurrencies since 2014.
• Save the Children, an international organization focused on improving children’s lives worldwide, began accepting cryptocurrency donations back in 2013, receiving the first-ever charitable payment in BTC.

Other organizations accepting crypto donations include the Rainforest Foundation US, which protects tropical forests, and the Human Rights Foundation, a global fund dedicated to protecting human rights.

Platforms and Services for Crypto Donations

Specialized services and platforms enable non-profits to accept cryptocurrency donations, with hundreds of them available and still growing. Let’s take a look at some of the largest ones.

Let’s take a look at the largest of them.

The Giving Block

One of the leading platforms for cryptocurrency donations, it offers non-profits an easy-to-use interface for accepting donations in over 100 cryptocurrencies, including BTC, ETH, LTC, DOGE, SHIB, and stablecoins like USDC and DAI.

The platform works with numerous charitable organizations worldwide, including UNICEF, Save the Children, and others. In total, The Giving Block is supported by over 1,500 non-profits and celebrities.

The Giving Block provides tools for integrating crypto donations, supports both fundraising campaigns and one-time donations, and allows donors to set up recurring cryptocurrency contributions or even leave digital assets for charitable causes in their wills.

In 2022, the total amount of donations made via The Giving Block exceeded $125 million, and by 2023, more than two-thirds of leading non-profits in the U.S. were using the platform to raise funds.

Binance Charity

The charitable arm of crypto exchange Binance facilitates donations in BTC, ETH, BNB, stablecoins, and other cryptocurrencies listed on the exchange. 

Binance Charity collaborates with a range of global charitable organizations, NGOs, and government bodies. Partners include the World Food Program (WFP), UNICEF, and other international organizations.

The platform supports donations to various charity projects, such as those aimed at fighting poverty, improving healthcare, supporting education, and environmental efforts. Donors can track their contributions in real-time via Binance Charity’s transparent tracking mechanism.

Endaoment

Endaoment is a non-profit organization offering a platform for crypto-based charitable giving. Its primary goal is to simplify payment processes and increase transparency in cryptocurrency donations. Endaoment accepts ERC-20 tokens as well as Wrapped BTC.

The platform provides an API to create donor-advised funds (DAF), which allow non-profits to receive crypto donations and automatically convert them into fiat currencies, making it easier to distribute funds to supported projects.

Every.org

Every.org is a platform that allows non-profits to accept crypto donations and convert digital assets into fiat currency. Every.org supports popular cryptocurrencies like Bitcoin and Ethereum.

The platform is essentially free to use and doesn’t charge user fees, with a 1% fee on currency conversion and fund distribution. Its API enables non-profits to accept crypto donations, even if they lack technical knowledge or a cryptocurrency wallet.

Every.org helps organizations avoid legal issues and potential risks associated with crypto donations. Donors are automatically provided with tax deductions, while recipients receive a completed IRS Form 8282.

As of 2024, Every.org has worked with over 1,200 non-profits and raised approximately $18.4 million in cryptocurrency donations. Notable partners include the Bill & Melinda Gates Foundation and the Fidelity Charitable Catalyst Fund.

Special Crypto Charity Events

Every year, various platforms organize fundraising campaigns dedicated entirely to raising funds in cryptocurrencies. These events aim to unite the crypto community and charitable organizations to support global social projects through crypto donations.

Crypto Giving Tuesday

Crypto Giving Tuesday is an annual campaign held on the first Tuesday after Thanksgiving in the U.S., following popular events like Black Friday and Cyber Monday. Organized by The Giving Block, the event has been running since 2021.

Participants in the event usually include:

• individuals and companies donating crypto-assets;
• charitable organizations registered on The Giving Block platform, including major ones like Save the Children, United Way, the American Red Cross, and many more;
• crypto companies and blockchain platforms.

In 2021, the Crypto Giving Tuesday campaign raised over $2.4 million in crypto donations, with more than 1,000 organizations participating. In 2022, it collected $2.9 million in one day, and in 2023, over $4.6 million in crypto donations were raised in a single day during Crypto Giving Tuesday.

Crypto Against COVID

Launched in 2020 by Binance Charity, Crypto Against COVID was a global initiative aimed at raising funds in cryptocurrency to combat the COVID-19 pandemic and its effects, particularly in resource-limited regions.

The main goals of the campaign were:

• supporting medical workers by providing personal protective equipment (PPE) such as masks, gloves, and suits;
• financing the purchase of medical equipment, including ventilators and testing systems;
• helping communities impacted by the pandemic by organizing food and medicine supplies.

Donations were accepted in BTC, BNB, ETH, and stablecoins like BUSD. The initiative raised over $4 million in cryptocurrencies, which were distributed across 60 countries. Over 1 million units of PPE were provided to medical workers.

“Donations with crypto are lightning-quick, cost-effective, they transcend international borders with ease, and have the potential to captivate a larger, more solvent audience,” analysts at CryptoProcessing.com concluded. They believe that cryptocurrency donations hold immense potential, having already helped raise millions of dollars for COVID-19 relief, humanitarian aid for Ukraine, and rebuilding homes affected by natural disasters.