The Crohn's & Colitis Foundation accepts donations in the form of cryptocurrency. Read these frequently asked questions to find out more about this donation option.
What is cryptocurrency?
Cryptocurrency is a form of global digital currency that can be exchanged without the use of a central bank. This means that forms of cryptocurrency, such as Bitcoin and Ethereum, can be directly exchanged from user to user on peer-to-peer networks, without the need for intermediaries. Transactions are secured and verified using a technology called blockchain. The value of cryptocurrency can fluctuate.
How do cryptocurrency transactions work?
Users can send and receive forms of cryptocurrency through a mobile app or an online system called a digital wallet. The Crohn’s & Colitis Foundation has partnered with The Giving Block to accept crypto donations. Check here for a full list of crypto currencies currently accepted.
Are U.S. donors eligible for a tax deduction when they make a bitcoin donation?
Donating cryptocurrency is a non-taxable event. Donors do not owe capital gains tax on the appreciated crypto that is donated and can typically deduct the fair market value of the donation on their taxes. This often makes Bitcoin, Ethereum and other cryptocurrency donations one of the most tax efficient ways to support the Foundation. If you want to learn more about how donating crypto can lower your taxes, check out thegivingblock.com/faq.
How will donations received by the Crohn’s & Colitis Foundation be used?
Contributions of Cryptocurrency must be converted to US Dollars as swiftly as is practicable and will fund the Crohn’s & Colitis Foundation’s mission to find cures for Crohn’s disease and ulcerative colitis, and improve the quality of children and adults affected by these diseases.
Is it possible for my donation to remain anonymous?
At the time of donation, donors may select the option to remain anonymous in Foundation public-facing acknowledgements, such as the annual report.
I need assistance in making my donation. Who can I contact?
If you have questions about crypto donations or digital fundraising opportunities using crypto, NFTs or other Web 3 platforms, please contact Jason Rice at [email protected]
All cryptocurrency donations are final and we are unable to offer refunds. No goods, services or airdrops will be offered in exchange for cryptocurrency donations.
*Please only send the exact cryptocurrency listed on the blockchain mentioned on the widget. Do not send any other cryptocurrencies (including layer 2, wrapped tokens, NFTs or other ERC-20 tokens not listed) as these are unsupported and may result in loss of donation. For more info, click here.