Classy Makes Accepting Crypto Donations Easy
Offering crypto donations allows you to tap into a new population of donors. Classy’s Crypto Giving makes it easy to give and easy to accept cryptocurrency donations.
Payment Options Matter
In 2021, almost half of cryptocurrency donors found it difficult to find a nonprofit that could accept their cryptocurrency donation. Activate Crypto Giving to make sure you don’t miss out on a major opportunity.
All donations automatically get converted into cash upon transaction, eliminating the need to hold crypto assets.
Easily add crypto as a payment option to an existing campaign or create a new campaign specifically for crypto.
We maintain a safe environment for donor data with Level 1 PCI compliance and SSL Security, built on Amazon Web Services.
The Benefits of Offering Crypto Donations
- Crypto investors skew younger, more philanthropic, and more diverse than the overall investor population, and they’re likely in your database
- Increase conversions by incorporating crypto in your overall fundraising strategy
- A crypto donation option is available on all Classy donation forms
- Turn crypto on and off at the campaign level, giving you ultimate flexibility
- Seamlessly toggle back and forth between crypto and fiat donations, optimizing the checkout flow for conversion
- Crypto giving is included with Classy Pay with no additional subscription fees
- It’s just as easy to accept crypto donations as it is to accept and reconcile credit card or PayPal donations
- Access your funds faster with daily cash-out
- Easily reconcile payments and deposits and manage all transaction data in your Classy account
- Reduce chargebacks with Stripe Radar to save your team time and resources
Are there tax benefits for donating cryptocurrency?
Yes, there are several benefits. Crypto donations are treated as non-cash gifts, similar to stock gifts. This means donors avoid the taxes of a liquidation event (for example, selling an asset for cash to donate), and nonprofits can accept the donation in its non-cash form. The gift is then auto-converted to cash without any tax implications, which means donors can give more and nonprofits receive more.
Why does Classy Pay accept cryptocurrency donations?
Offering the payment options donors prefer drives conversion and revenue for your nonprofit. Crypto specifically opens the door to a new donor demographic that skews younger and more diverse than the traditional philanthropic community. Offering a crypto donation option gives you the opportunity to capture this new audience.