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What charity crypto fundraising is, how choose the best crypto fundraising platform for your charity, crypto risks, benefits and crypto currency regulatory guidance, as well as useful links to crypto fundraising guides. This guide has been formatted to comply with existing crypto fundraising guidance, so can be used both as a crypto toolkit and as a policy template for your charity.
There aren't that many charity crypto fundraising platforms but cryptocurrency donations may represent a way to bring new wealth into the sector. There are not yet many charities using crypto fundraising platforms to accept donations, so potentially a real opportunity for those who do.
The free Funding Finder directory enables you to search for grant funding. Use Help Finder to find a huge range of free support, including companies that donate to charities and raffle prize donations. There's a fundraising online health check, with 100+downloadable grant funding lists and 40 downloadable policy templates.
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To identify the best crypto fundraising platform for your charity, here are things to consider or to ask potential providers:
Crypto fundraising is still new and there are not yet a significant number of crypto fundraising platforms. Here are some of the best known platforms.
Typically, these platforms process crypto currency donations on a charity’s behalf, converting it to fiat currency before transferring it to the charity. Alternatively, a charity might have its own crypto-wallet, so it holds crypto currency itself. Note - I found these using Internet research, have not used these myself and their inclusion does not represent either a recommendation, nor endorsement.
The Financial Conduct Authority (FCA) estimates that in the UK 2.3m people hold crypto currency, and NatWest has claimed that some 20% of its 19 million customers hold crypto currency.
In its 2021 annual report, the crypto fundraising platform the Giving Block recorded an average donation of more than $10,000, and claimed the average value of a crypto donation was 82 times greater than an online cash donation. There is also the now famous case of a Scottish animal charity, which received a cryptocurrency donation of £90,000.
Crypto fundraising donations often support similar causes to normal donations. Crypto donors to charity are motivated by the same things we all are and just choose to donate in a different way. However, their demographic is very different. It’s been estimated that the per capita income of crypto investors ($111,000 in the US) is higher than average. And their age tends to be lower than those donating traditionally (38 years old vs 64 years old).
It seems likely that this is not primarily existing donors changing the way in which they donate but at least partly new wealth flowing into the charity sector.
To help you assess if crypto fundraising is right for your charity, we've assessed the benefits, risks and limitations is using it.
Crypto fundraising isn't for every charity but, for those who do, there is real potential to secure more donations.
There are significant risks associated with crypto fundraising that charities must be mindful of and manage.
Here is the crypto information we've managed to source that's been published by regulators and others.
There doesn't seem to be all that much regulatory guidance on crypto fundraising but here's what I managed to find.
The application of data protection law in crypto and blockchain systems, where control is both decentralised and distributed and where personal data is often permanently embedded in public transaction records, raises important issues for transparency and the exercise of information rights in crypto fundraising, amongst other things. We will either take appropriate action to ensure we remain data protection compliant or not use such systems.
A registered charity ourselves, the CEF works for any non profit, not just charities.
Plus, 100+downloadable funder lists, 40+ policies, 8 online health checks and the huge resource base.
Quick, simple and very effective.
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To access help and resources on anything to do with running a charity, including funding, click the AI Bunny icon in the bottom right of your screen and ask it short questions, including key words. Register, then login and the in-system AI Bunny is able to write funding bids and download 40+ charity policy templates as well.
This crypto fundraising article is for general interest only and does not constitute professional legal or financial advice and we do not promote, or endorse any crypto fundraising platforms. I'm neither a lawyer, nor an accountant, so not able to provide this, and I cannot write guidance that covers every charity or eventuality. I have included links to relevant regulatory guidance, which you must check to ensure that whatever you create reflects correctly your charity’s needs and your obligations. In using this resource, you accept that I have no responsibility whatsoever from any harm, loss or other detriment that may arise from your use of my work. If you need professional advice, you must seek this from someone else. To do so, register, then login and use the Help Finder directory to find pro bono support. Everything is free.
