With the growth of Bitcoin donations, you may be keen to know what factors are behind this trend. Here are the top reasons to donate Bitcoin.
Bitcoin and other cryptocurrencies are more popular than ever before. Many people and institutions are today part of the Bitcoin community by using and embracing it. One of the emerging uses of Bitcoin is donating. Bitcoin donation entails gifting the cryptocurrency instead of the conventional fiat currencies. Many charities are now accepting Bitcoin donations.
But from a donor’s perspective, one question to ask is why donate Bitcoin? Why not donate fiat currency like the Euro of the U.S. dollar, as has been the case for many years? Donating Bitcoin may not be an alternative for a section of donors because they either don’t have the Bitcoin or are not aware of Bitcoin donation.
To help you understand Bitcoin donation and why you should embrace it, here are some top reasons to donate Bitcoin.
The Great Potential of Bitcoin Donation
Bitcoin is a reality that most people know about and are experiencing. You may be a Bitcoin trader, pay for goods or services using it, or may have some Bitcoin you bought or gathered in other ways. Many entities now accept and use Bitcoin as a digital currency and measure of value. This trend is also evident in the charity world, where more charities are now accepting Bitcoin donations.
The fact that Bitcoin is gaining acceptance and experts project it to grow in usage and availability makes it suitable for donating. You can donate your Bitcoin in various ways and have it accepted by charities of your choice. Therefore, you should donate Bitcoin more because the trend is growing. Donating Bitcoin also expands the window of opportunity for charities to trade the cryptocurrency through a platform like quantum-ai-trading.com
The Convenience of Bitcoin Donation
Donating Bitcoin offers greater convenience for the donor and recipient charities. With Bitcoin, you can donate to charity fast, efficiently, and with greater comfort. You can donate your Bitcoin directly or through third-party payment processing platforms like The Giving Block.
Either way, donating is much simpler and easier with support from the payment processing apps. To donate Bitcoin, you don’t have to have the technical know-how or experience. The payment processing platforms will direct you on how to make your donation successfully and satisfactorily.
Donating Bitcoin is More Cost-Efficient
You enjoy tax benefits whenever you donate Bitcoin instead of Fiat currency. Traditionally, donating fiat attracts capital tax gains. Additionally, you won’t receive the tax deductible. Using Bitcoin will exempt you from such taxation because crypto donations are not subject to such tax obligations.
For the recipient charities, Bitcoin donations will ensure they receive the total amount of your gift. And this makes the Bitcoin donation much better than alternatives where your donation does not get to the recipients in absolute value. It makes Bitcoin donation more impactful as the gifts can go a long way to support more charity work.
Anonymity
Also, you can donate Bitcoin because of the level of anonymity that you can have. Not everyone likes to expose their identities when contributing. Bitcoin is a decentralized digital currency that no government or single entity controls. And this means that you can choose to hide personal details like your address with a Bitcoin donation. The government or any other entity cannot track your information.
Moreover, you can also hide your identity from charitable organizations with a Bitcoin donation. This level of anonymity and privacy means you can make significantly large Bitcoin donations without attracting undue attention.
The Bottom Line
Donating Bitcoin is a much better way to donate to charity than the traditional methods that use fiat currencies or credit cards. With Bitcoin donation now a reality, you can donate your Bitcoin easily, faster, and cheaper. Moreover, since Bitcoin is a decentralized digital currency, you can enjoy privacy by making anonymous donations.