NEEDS REWRITE
The IRS considers crypto currency as property, not cash.
From a global perspective, it is really surprising how things have evolved, considering that
before the existence of the internet the flow of information transmitted took much longer
than normal, and that nowadays anyone can turn on their computer and make a donation to
help many different causes. Without delay, and considering the growth that new
technologies have had, Bitcoin has a lot to add and it could prove to be a very fascinating
way to help society as a whole.
Cryptocurrency donations
Many would think that making a donation requires compliance with certain aspects, mainly
counting on being a socially valuable individual, but the truth is that things are much
simpler than you might think, and only due to the simple fact that donating results in the
benefit of another, so the flexibility in terms of receiving is quite reciprocal in many cases.
In regards to this, and knowing how things have been changing due to the participation of
Bitcoin and many other currencies such as Ethereum with its smart contracts or Ripple with
its future projects, the events have been intertwined and resulted in the high likelihood of
receiving donations from cryptocurrency nonprofits.
One of the clear examples in terms of donations can be clearly seen with organizations such
as Silicon Valley Community Foundation, which has received many billions of dollars
valued in cryptocurrencies, or No Kid Hungry, which thanks to the collaboration of many
with a couple clicks has been able to bring more benefits to the community.
Reasons why.
Of course, there are several reasons why non-profit companies have come to accept
cryptocurrencies as part of a profit, becoming a new source of income for better causes that,
after all, have caused many of these organizations become much more transparent to the
general public.
One of the clearest reasons is fundraising. At the time of receiving a donation something
really interesting happens, and that is cryptocurrencies being something completely
decentralized, which work like actions that, in the end, when they are transferred, there is
no tax payment on capital gains.
This allows the total amount of the donation in cryptocurrencies to be completely acquired,
and being so, the organization at the time of selling Bitcoin or any other cryptocurrency for
fiat money, the amount of the donation is less and therefore the payment of taxes is also
lower.
Another of the completely transparent reasons is marketing, when a person or an
organization makes this type of donation, they are indirectly encouraging many users to
take a step to understand this new world, generating a greater circulation of cryptocurrencies
in the market, and by At the same time, on the platforms that work on
trading and the movement of values.
Stablecoins
Like a family tree, cryptocurrencies have gradually branched out into the financial roots of
the web, so new types of money plants have been born to make a difference, among them
are Stablecoins, which have started to be part of these constant participations to non-profit
organizations.
The reason for this is that these types of currencies have much less volatility in the market,
since it is directly related to a palpable value, which although it does not have a value like
Bitcoin today, generating a greater sense of peace when involved in the decision making
process, as for example occurs with the purchase and sale of diamonds.
Transparency
As previously mentioned, making donations to non-profit organizations with
cryptocurrencies guarantees a higher level of security and transparency, due to the simple
fact that these types of transactions can be easily detected by the public eye, generating
greater confidence that no illicit act related to money laundering is taking place.
This type of transparency is very difficult to perceive with fiat money, since cases of
criminals taking advantage of these organizations have been detected on several occasions,
as well as there are occasions in which they have gone unnoticed because they are
considered a ghost organization.
Acceptance of payments in Bitcoin
Going back to the basics, it is normal to see that in terms of buying, selling, sending and
receiving Bitcoin is the main source of movements and transactions in cryptocurrencies, not
only for being the pioneer, but also for demonstrating to the rest of the thousands of
projects that these new technologies have a path to success.
Knowing this, non-profit organizations are mostly related to this currency when it comes to
donations, so having different methods to receive them can be seen as something as simple
as complex depending on the perspective.
Among the different methods that exist, Coinbase is the most common, although there are
organizations that have been working with platforms such as Etsy and Shopify, which on
their way to adapt to new technologies have made partnerships with the most common
platforms for this type of movements.
Thanks to this, many companies can save complicated processes or time to accept Bitcoin
payments. However, creating an account in Coinbase is not complicated if you already have
the prerequisites, as is also the case with BitPay.
Conclusion
Knowing the reliability that cryptocurrencies are beginning to grant, more and more non-
profit organizations will be confident of accepting this type of donation, therefore, this type
of previously mentioned advantages will have a broader and longer cycle, so that the
decision-making process in other fields will be reflected with greater growth in the future.
If a greater part of society understood these changes, the world would undoubtedly be
directly affected by an evolution at an intellectual level never seen before, not to mention
that it can reach the hands of those who are in high need of a system change.
This is one of the many reasons that Cryptocurrencies are slowly becoming an integral part
of our daily existence and something that we should keep an eye on because it could prove
to be extremely beneficial for people all over the world due to multiple different reasons.
Can you perceive these changes as temporary or do you really think that donations to non-
profit organizations would have a great impact?