06/03/2022

What You Need to Know Before Accepting Cryptocurrency Donations

What you should know before getting into the crypto space

Needless to say, cryptocurrency has gotten pretty popular. Even after a tumultuous few months, the total market cap still stands at over $1 trillion as of late May. Crypto donations have also risen steadily, with crypto donation platform The Giving Block reporting a 1,558 percent increase in donation volume from 2020 to 2021.

“Crypto philanthropy is here to stay, and it’s going to grow,” said Paul Lamb, principal consultant at Man on a Mission Consulting.

That said, cryptocurrency has its critics, and organizations such as the Wikimedia Foundation are reckoning with calls from the community to stop accepting crypto donations, largely because of their environmental impact. As a result, your association might be hesitant to accept them. So what should you know before deciding on accepting crypto donations?

Please select this link to read the complete article from Associations Now.