Boys & Girls Club of Greenwich is pleased to announce the capability to accept donations of cryptocurrency for charitable giving. According to The Giving Block, a platform to help nonprofits to accept crypto donations, 220,000,000+ people use cryptocurrency today.
Cryptocurrency is a form of decentralized digital money that is based on blockchain technology. A cryptocurrency, or “crypto,” is an emerging form of payment that can circulate securely without the need for a central monetary authority such as a government or bank.
Cryptocurrency donations are mutually beneficial. Donations of this type allow donors to give appreciated assets and take advantage of potential tax benefits. According to The Giving Block, donating cryptocurrency can have substantial tax benefits for donors. “The Internal Revenue Service considers cryptocurrency to be property for federal income tax purposes, so donors receive a tax deduction equal to the fair market value of the donated cryptocurrency, and they do not have to pay capital gains taxes.”
To make a gift of cryptocurrency to Boys & Girls Club of Greenwich, donors simply need to complete the standard cryptocurrency giving form by clicking here.
With more than 5,000 different cryptocurrencies in circulation, the following are the cryptocurrencies BGCG can currently accept: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Zcash (ZEC), Gemini Dollar (GUSD), Basic Attention Token (BAT), Chainlink (LINK), 0x (ZRX), Storj (STORJ), Dai (DAI), Amp (AMP), The Graph (GRT), UMA (UMA), 1inch (1INCH).
Click here to learn about the many ways to support Boys & Girls Club of Greenwich.