NASHVILLE, Tenn., January 18, 2022 - Generous, a best-in-class online fundraising platform, now provides its users the ability to contribute cryptocurrency to over 1.5 million nonprofits in the U.S. using the Generous platform. Donating crypto instead of cash provides donors with the ability to have a greater impact because crypto donations are not subject to capital gains tax and can be deducted at their full appraised value. Providing users the ability to donate crypto to a nonprofit organization is the latest example of how Generous continues to provide the easiest way to donate online.
In the last several year's cryptocurrencies have become increasingly popular and crypto owners have been proven to be extremely generous. A study by Fidelity Charitable found that 45% of crypto investors gave more than $1,000 to charity in 2022 compared with 33% of all investors. Fidelity Charitable also reportedly received $274 million worth of cryptocurrency donations in 2021 as of November.
Today most nonprofits only accept donations by check, credit card, or bank transfer, but those methods don't work for everyone. The Generous platform makes it easy for people to donate crypto and provides a seamless solution for nonprofits to receive crypto donations. Nonprofit organizations benefit because Generous converts crypto assets to cash upon receipt and sends the dollar proceeds to the nonprofit, avoiding the need for nonprofits to set up complex crypto wallets and new protocols to receive crypto donations.
"We endeavor to make giving accessible to everyone,” says Rich Wertz, CTO at Generous. Wertz continued, “young people--and Generation Z in particular--have a real comfort level with cryptocurrencies. So allowing donors to support their causes via cryptocurrency will enable those who prefer to operate outside the traditional banking rails to make a profound, positive impact. And it opens up a powerful giving funnel to all those nonprofits that don’t have the resources to provide their own cryptocurrency donation options."
Generous provides the ability for donors to make donations of Bitcoin, Ethereum, Litecoin, US Dollar Coin, and Dogecoin. Donate crypto to any nonprofit in the US by visiting Generous today.