<span style="font-weight: 400">Many fundraising platforms/nonprofits have begun to accept Bitcoin donations in recent years. In addition, at the end of 2019, well-known nonprofits/fundraising platforms such as UNICEF began accepting cryptocurrencies. "</span><a href="https://www.savethechildren.net/"><span style="font-weight: 400">Save the Children</span></a><span style="font-weight: 400">" is a well-known charitable organization founded in 2013. Given this, it is unavoidable that most non-profits will accept cryptocurrency donations in the future.</span>

<span style="font-weight: 400">However, many fundraising platforms are still hesitant to accept cryptocurrency donations. One of the most common reasons is that this currency appears difficult to comprehend. However, if you know what to do, you can make the transition smooth and painless for your donors.</span>

<img class="aligncenter" src="https://nonprofitsdecoded.com/wp-content/uploads/2021/02/bitcoin-donation-nonprofits.jpg" alt="Why Do Fundraising Platforms Need to Start Accepting Crypto?" width="576" height="432" />
<h2><strong>What Are The Benefits Of Accepting Crypto Donations</strong></h2>
<h3><strong>Attract Millennial Donors</strong></h3>
<span style="font-weight: 400">Philanthropy has evolved rapidly in the twenty-first century. Donation methods such as direct mail campaigns are less popular than they once were, but e-donation (electronic donation) is growing in popularity. Young people who want to help others are now giving in unusual ways.</span>

<span style="font-weight: 400">Young people can give money directly to people in need through sites like GoFundMe. Cryptocurrency is an excellent way to send money directly to people in need. Fundraising platforms must adapt to how people give money today and provide philanthropy that appeals to the next generation of major donors.</span>

<span style="font-weight: 400">According to an eToro survey, 43 percent of Millennials who trade online have less faith in the stock market than in cryptocurrencies. Furthermore, 71% would invest in cryptocurrencies if they were made available by traditional financial institutions. As a result, cryptocurrency donations are an excellent way for the younger generation to make a positive social impact while also encouraging innovation.</span>
<h3><strong>Give Directly to Those in Need</strong></h3>
<span style="font-weight: 400">When working with marginalized communities, money frequently has to pass through several hands before reaching the desired beneficiaries. For example, assuming someone donated $100,000 to a school program in a remote area of Uganda. The funds would have to be sent to Uganda, converted into Ugandan Shillings, withdrawn from a bank, and delivered to the rural area.</span>

<span style="font-weight: 400">All of the fees associated with this lengthy process would reduce the value of the original donation and divert funds away from the school program. At the same time, this is not necessary with cryptocurrency.</span>

<span style="font-weight: 400">Anne Connelly, a supporter of blockchain's social potential, believes that cryptocurrencies such as Bitcoin can improve the efficiency of humanitarian work. Anne also stated that Bitcoin could be beneficial to people in the global south whose currencies have depreciated to the point where they can no longer be used.</span>

<a href="https://www.cryptoknowmics.com/news/jack-dorsey-says-bitcoin-is-internets-only-money"><span style="font-weight: 400">Bitcoin</span></a><span style="font-weight: 400"> has the potential to empower marginalized communities around the world while also preventing governments from mismanaging their money. In addition, donors can see how their money is spent because every Bitcoin transaction is public and protected by blockchain technology.</span>
<h3><strong>Other benefits</strong></h3>
<em><strong>Other benefits include the following:</strong></em>
<ul>
 	<li style="font-weight: 400"><span style="font-weight: 400">Accepting cryptocurrency can help your brand's recognition and visibility. Through this, you can demonstrate that your organization is open to new ideas and eager to put them to use.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Technology and digital transactions play an important role in the lives of the Millennial and Gen Y generations. They are also the generation that makes the greatest contribution to the economy as a whole. As a result, it should be easy for any nonprofit organization/ fundraising platform to gain their attention.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">You make yourself available to those who own Bitcoin and must pay capital gains taxes. These holders will see you as a helpful person.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">You inform your supporters, donors, and employees of the new financial trend. This new information may be beneficial to society as a whole.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Cryptocurrency donations have lower transaction fees than credit card donations in some cases.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">You will be among the first non-profit organizations/ fundraising platforms to use digital currency. Nonprofit fundraising is a highly competitive industry. Obtaining resources from a new market with less competition allows you to do more.</span></li>
</ul>
<h2><strong>Are a lot of people donating via cryptocurrency yet?</strong></h2>
<span style="font-weight: 400">The short answer is yes. Large fundraisers are already utilizing cryptocurrency. For example, consider Fidelity Charitable, a public charity under Internal Revenue Code section 501(c)3. Their annual report discusses how donations have changed over the years.</span>

<span style="font-weight: 400">FC began accepting this money in 2015. In their first year, they received approximately $7 million in donations. The majority of these funds arrived in the form of Bitcoin. </span>

<span style="font-weight: 400">In 2017, they received approximately $69 million. The following year, they received more than $30 million in donations, which was less than the previous year but still a substantial sum.</span>

<span style="font-weight: 400">They had made a total of $109 million from cryptocurrency as of the beginning of 2019. As a result, it was the asset that grew the fastest during that time.</span>

<span style="font-weight: 400">With Bitcoin's increase in price in 2019, the future appears bright and promising. Bitcoin is proving those who thought a non-profit cryptocurrency couldn't work wrong. This is the best thing that could happen in terms of asset growth.</span>
<h2><strong>Is it hard to accept crypto donations?</strong></h2>
<span style="font-weight: 400">Absolutely not. Most non-profit organizations can begin accepting cryptocurrency donations with a few simple changes. However, cryptocurrencies can be difficult to grasp at first. This is particularly important if you intend to hold, trade, and handle your transactions. Other digital currencies, such as Ethereum, Ripple,</span><a href="https://www.cryptoknowmics.com/news/tethers-bid-to-conceal-reserve-gets-rejected-by-a-u-s-court"> <span style="font-weight: 400">Tether</span></a><span style="font-weight: 400">, and Litecoin, are growing in popularity alongside Bitcoin.</span>

<span style="font-weight: 400">Most non-profits who are not interested in the cryptocurrency have difficulty raising funds independently. However, nonprofits that want to use cryptocurrency, on the other hand, should rejoice. You don't need to be an expert in cryptocurrencies to accept donations. You need to select the payment platform that works best for your company, and you're done.  There are various types of cryptocurrencies, so you must decide which ones to accept and how to convert them into cash.</span>
<h2><strong>How can a nonprofit/ fundraising platform accept crypto donations?</strong></h2>
<span style="font-weight: 400">As a nonprofit, you have several options for accepting cryptocurrency donations. For example, you can use a payment processor/gateway, a personal wallet, or a hybrid model combining the first two methods.</span>
<h3><strong>Personal wallet</strong></h3>
<span style="font-weight: 400">As the manager of a fundraising platform, you can control your cryptocurrency directly and manually with a personal wallet. As a result, you must have a thorough understanding of how cryptocurrencies operate and interact with one another. You'll also need to be well-versed in Bitcoin and other cryptocurrencies, including their patterns, trends, and volatility.</span>

<span style="font-weight: 400">It is a significant request for organizations whose primary goal is not to work with cryptocurrencies. You can, however, use web wallets, software wallets, or even physical hardware wallets(devices) if you have one.</span>
<h3><strong>Hybrid Solutions</strong></h3>
<span style="font-weight: 400">These options attempt to provide you with both a personal wallet and a payment processing method. As a result, they will provide you with better tracking options for donations and blockchain transactions than a payment platform. They are also more attractive and functional than wallets. However, they do not have dedicated payment processor management or full wallet independence.</span>
<h3><strong>Payment Processor</strong></h3>
<span style="font-weight: 400">A payment processor is the most common way for nonprofits to raise funds. You will have access to quick and simple donation methods. These platforms can also accept, store, and sell your cryptocurrency. As a result, they make it simple and secure to accept cryptocurrencies and convert them to fiat currency.</span>

Do Fundraising Platforms Need to Start Accepting Crypto?

Many fundraising platforms/nonprofits have begun to accept Bitcoin donations, such as United Nations International Children's Emergency Fund (UNICEF)

Oluwademilade Afolabi is a freelance writer and editor passionate about blockchain technology and the health industry. He is a 6th year medical student, and has worked with various companies and blogs since the blockchain revolution began.

Do Fundraising Platforms Need to Start Accepting Crypto?

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