JustGiving announces acceptance of more than 60 forms of cryptocurrency
Melanie May | 19 November 2024 | News
JustGiving has partnered with The Giving Block to accept donations of cryptocurrency as of this week, with over 60 different forms accepted on the platform.
This includes all major cryptocurrency coins such as Bitcoin, Ethereum and Tether, as well as some of the most popular memecoins including Doge, Dogelon and Shiba, with JustGiving saying it is the first UK fundraising platform to accept this form of currency.
It is facilitating this new donation method in partnership with The Giving Block, a solution for cryptocurrency donations.
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According to The Giving Block’s 2024 Annual Report, there are approximately 580 million crypto users worldwide and an estimated £1.5 billion in cryptocurrency has been donated to charitable causes. One of the drivers behind this increasing volume is that donations made through crypto assets are treated as being made for ‘no-gain’ and ‘no-loss’, so are not subject to capital gains tax.
Cryptocurrency donations will be integrated into all UK fundraising pages on JustGiving, and charities will also have the opportunity to offer cryptocurrency as a giving method.
Any cryptocurrency funds raised on a JustGiving page will be automatically and instantly converted to GBP before they are distributed.
Pascale Harvie, President and General Manager of JustGiving, said:
“We are proud to have a culture of innovation which has allowed us to play a central role in the tremendous growth of online fundraising over the past two decades.
“In recent years there has been a surge in the use of cryptocurrencies and our decision to enable cryptocurrency donations is the latest demonstration of our commitment to forward thinking innovation.
“By incorporating a new seamless way of donating cryptocurrency, we hope to unlock a huge amount of unrealised potential to drive more donations for our charity partners.”
Alex Wilson, Co-Founder of The Giving Block, said:
“580 million people now use cryptocurrency around the world and the market is worth nearly $3 trillion. Charities need to tap into this new donor demographic. Our goal is to make accepting cryptocurrency donations just as easy as taking any other online donations. With JustGiving’s help, that’s exactly what this partnership is doing.”
JustGiving has enabled over £7 billion to be raised for thousands of charities and good causes since it launched in 2000. Last year it integrated AI into its page creation process, enabling fundraisers to use it to help write their on-page fundraising stories.
About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.