Скачать или смотреть Episode 37: Decrypting Crypto for Nonprofits—Bitcoin Donations and Beyond, with Alex Wilson

What happens when socially conscious millennials and others profit billions of dollars from cryptocurrency investments? They look for ways that their windfall can help those less fortunate.

This year, one platform alone will handle over $100 million in cryptocurrency donations to nonprofits. And they expect it to 10x next year.

What started out as a novelty in the tech and finance space has now turned into a three trillion dollar movement that impacts most aspects of life today. Yet, it still seems complex (cryptic?) for nonprofits to get involved. Between the technical aspects and the legal concerns, most nonprofits have been hesitant to dive in.

Alex Wilson co-founded The Giving Block when he saw that nonprofits had a hard time overcoming the hurdles necessary to accept and process Bitcoin donations. He joined us this episode to demystify cryptocurrency donations for nonprofits and why it’s important to join the movement sooner rather than later.

** Episode Links and Shownotes: https://nphf.show/ep37 **

Concepts and Takeaways:
• 2:13 — The story of how and why Alex and his co-founder, Pat Duffy created The Giving Block, starting with the Pineapple Fund’s $56M in donations
• 4:56 — A primer on what is Bitcoin and Blockchain technology
• 8:43 — This year alone, The Giving Block will process over $100M in donations, expecting to do $1 billion next year
• 9:20 — The crypto-donor avatar - what makes them different and why they want to donate in cryptocurrency specifically.
— They’re younger, wealthier early adopters of the technology, who have made a lot of money with it
— Their average donation size is over $10,000 (more than 10x the average credit card donation)
— They have a vested interest in donating in crypto because they want to see greater crypto adoption
• 11:13 — Why cryptocurrency investors prefer to donate directly in crypto, rather than converting to U.S. dollars or other fiat currencies: The tax implications are enormous for them
• 14:19 — What it takes to get started with accepting cryptocurrency donations
• 16:18 — Bitcoin anonymity versus knowing your donors: With the transparency of crypto, you can apply whatever your nonprofit’s standard donation policies are.
• 18:55 — Tax implications of accepting crypto donations for nonprofits. These currencies are considered assets, so the nonprofit receives and processes them as non-cash contributions, similar to stocks.
• 19:50 — When you receive the donation, you can either hold the cryptocurrency like an asset, or instantly convert it to your local currency.
• 20:56 — The Giving Block is organizing several marketing pushes for year-end giving. They even create marketing toolkits for nonprofits taking part.
— Crypto GivingTuesday
— NFTuesday - encouraging artists and others making money from NFTs to donate a percentage of their windfalls
— Crypto Giving Pledge - replicating what the Giving Pledge is doing, but for cryptocurrency philanthropists
• 21:43 — It’s not too late to get involved with accepting crypto for this end-of-year season. It takes around a week to get set up and running.
• 24:05 — How The Giving Block works with organizations and fees to get started with their platform
• 25:54 — Cryptocurrency adoption and donations are growing rapidly. The sooner you can get started working with and accepting the donations, the sooner you can start building relationships with donors who prefer cryptocurrency donations.
• 29:52 — With The Giving Block’s tools, you can either use their website or embed your crypto donation widget on your site/donation page for a more seamless experience.