Are cryptocurrencies suitable for donations?

[ahmedo24]

If you want your donation to be anonymous, I think donating in crypto currency can be the best option. A lot of people use crypto to avoid tax, therefore, it might be easier for the receiver to evade tax.

That's just , charity ordinary is more rewarding when the donor is annonymous which cryptocurrencies are serving the purpose. Lotd of organizations will be glad to receive donations in cryptocurrencies because it could be an avenue to get them involved.

 

[BrolySSJ]

To me. Is the best and suitable donation currency so far, because some people don't like making noise when it comes to donation and they want to remain anonymous as well.

this is an excellent point and people generally do like to remain anonymous when they make a donation of any sort. However the concern with anonymous donations in terms of cryptocurrency is that it cannot be traced and therefore the funds could be used for other reasons inside of the donation organisation.

 

[Justin]

I do not think crypto currencies should be used for donation. Since crypto currency transactions are anonymous, the receiver may not make the donation public and thus evade the tax.

 

[BrolySSJ]

I do not think crypto currencies should be used for donation. Since crypto currency transactions are anonymous, the receiver may not make the donation public and thus evade the tax.

Tax evasion is one of the main concerns when it comes to cryptocurrency usage an adoption within any country or organisation and I think that you have raised a very valuable point here. I believe that in the future, possibly tax will be implemented in payment platforms that will be utilising cryptocurrency as a form of payment

 

[greenie]

There is nothing with accepting cryptocurrency donations. Using cryptocurrency is a good choice especially if the giver want to remain anonymous. In my country some philanthropist use cryptocurrency for charity donations.

 

[Bousine123]

Crypto currencies are suitable for donations if both parties are into crypto currency business, or if the receiver is able to accept the mode of donation and Can convert it into flat currency.

 

[HayKay]

If it's acceptable, there's no issue about it. So long as you're trying to help people and make impact on the world.
I've seen a lot of platforms that accept cryptocurrency as payment and they're doing well.

 

[BrolySSJ]

Crypto currencies are suitable for donations if both parties are into crypto currency business, or if the receiver is able to accept the mode of donation and Can convert it into flat currency.

I think that there are also ways that you can use crypto even if you can't convert it for example in my country it is hard to convert it but you can buy gift cards with it and for a donation that can help too.