Making donations is a great way for the cryptocurrency community to spread acceptance for peer-to-peer electronic money to new people and institutions. And options for giving with bitcoin cash to your supported causes are expanding all the time, with organizations such as Save the Children joining in.
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Save the Children Adds More Crypto Capability
Save the Children, which helps protect children from the effects of war and violence, has announced today the relaunch of its cryptocurrency fundraising capability effective 3 December, 2019. The global humanitarian organization is now able to accept multiple digital assets in automated fashion through its website including bitcoin core (BTC), bitcoin cash (BCH), ethereum (ETH), zcash (ZEC), litecoin (LTC) and the gemini dollar (GUSD).
The organization initially accepted bitcoin donations in 2013, in response to Typhoon Haiyan that struck Southeast Asia and devastated the Philippines. By accepting multiple cryptocurrencies, Save the Children is now offering more supporters with diverse cryptocurrency portfolios the ability to support the charity in a tax efficient way. The organization explains that the IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax and are tax deductible on the donor’s tax returns.
“Beyond cryptocurrency contributions, what if blockchain technology could be used to make supply chains more efficient, transactions more transparent and end world poverty through decentralized universal basic income as a form of unconditional cash vouchers? That would be a dream worth HODLing on to,” stated Ettore Rossetti, Senior Director of Social & Digital Innovation of Save the Children. He added, “Since our founding 100 years ago, Save the Children has reached more than 1 billion children. Perhaps the next
