Crypto-Philanthropy: the future of fundraising?

January 14, 2019 12:00 AM
  • Crypto-Philanthropy logo

Fundraising is the lifeblood of charities and is of great importance to nonprofits. Most nonprofit/nongovernmental organizations rely on fundraising to cover the costs of campaigns and programs driving social impact.

Bitcoin fundraising

Over the last few years, a large number of charities and foundations have been trialing bitcoin donations. These include well-known organizations like the Red Cross, Save the Children, United Way, the Wikimedia Foundation, and the Electronic Frontier Foundation. Once established, an online “wallet” allows charity institutions to accept bitcoin and other cryptocurrency donations and these are later exchanged for fiat currencies such as the dollar. In some cases, online wallet providers offer 0% processing fees for nonprofits, compared to the 2% or more required by traditional donation processors. This means, potentially 100% of donations can end up in the pockets of charity organizations or donation recipients. Bitcoin donations to charities are also tax deductible in most countries and offer donors the added benefit of avoiding capital gains taxes on the dollar amount value of their cryptocurrency donations.

In the United States, it is difficult to say how much money has been generated through bitcoin and other digital currency donations. There is evidence to suggest that bitcoin transactions are on the rise. Fidelity Charitable, which houses the nation’s largest donor-advised fund, reportedly received $69 million in cryptocurrency donations in 2017, up from $7 million received in 2015 and 2016 combined.

In addition to direct digital currency donations, there are a variety of other innovative and unique platforms and projects underway in the emerging “crypto-philanthropy” space.


If there is greater transparency in giving and impact does lead to increased confidence in charities, millions (or even billions) of dollars more could be generated for the social sector.

Now is the time for philanthropists, foundations, and nonprofits to come together with social entrepreneurs, blockchain visionaries, and technologists to collectively guide the direction of crypto-philanthropy. The future of giving is for all of us to imagine and create, built on our common love of giving back.

Share this:


Get the latest news from the social good space by signing up to our newsletter.

Submit an Idea

Do you have an idea for an app related to social good? Exceptional ideas will be considered for funding by Vodafone Foundation.


Case Studies

Miitti Image 68410
By Kavitha Srinivasa Miitti has been conceptualized to scale up...
Schooglink image 66689
By Kavitha Srinivasa From being an Electronic Design Automation (...
Crowdfunding brings relief to NGOs logo 54434
By Kavitha Srinivasa   Introduction Impact Guru’s unique...
Tech-based Tool to Create Social Impact logo 54428
Outline India (OI) is a Gurugram based for-profit social research...
An app for eco-friendly cooking logo 22715
Kavitha Srinivasa Introduction Kitchens in semi-urban and rural...


theteacherapp activities image
By Kavitha Srinivasa What prompted you to give up investment...
Hear2Read activities image
By Kavitha Srinivasa Impressionable Age Google Playstore...
Safecity Interview Banner
By Kavitha Srinivasa As sexual violence is a global issue — since...
By Kavitha Srinivasa It is not every day that one comes across a...
Zeleno - Throw Trash, Save Cash logo
By Kavitha Srinivasa Gaurav Joshi, a professional working in a...