1. Can’t you donate crypto to good causes already?

Yes – but not-for-profit organizations are always exploring new ways of attracting support from the crypto community, and demand is growing.

Charitable giving allows investors to help causes they are passionate about – and if their cryptocurrency assets rise in value, donations can be used in some countries to eliminate the capital gains taxes they would need to pay on the appreciation.

According to a report by Fidelity Charitable, 2017 was a record year for crypto donations. This organization received $69 million in cryptocurrencies like Bitcoin, and claims this was almost 10 times higher than the year before.

Fidelity believes Bitcoin’s dramatic rise in value in 2017 played a factor in this increase. It says being able to accept crypto donations has opened the door to funds, and supporters, who may have been out of research and unable to contribute before.

Meanwhile, an anonymous donor set up the Pineapple Fund, with 5,104 BTC being given to 60 charities. They timed their donation with last year’s “crypto bubble”, meaning $55 million has gone to good causes.