Once considered a fad, but now a hot commodity, Bitcoin is now being used to change the world. Did you know you can send charitable donations directly from your digital wallet? Crypto is the future, so Save The Children adapted to move into the future as well. If you want to donate to the organization using Bitcoin, then you’re in the right place. We’ve got a few tips for you if you want to send crypto to this helpful charity. Here’s how they use cryptocurrency to help children around the world.
Save The Children began accepting Bitcoin as contributions in 2013. They were the first international humanitarian organization to do so, and they have seen a lot come from it. When the Philippines found itself decimated after Typhoon Haiyan, Bitcoin donations flowed into the organization to provide relief. In 2021, Save The Children extended their crypto efforts by launching the HODL Hope Campaign. The Campaign added a fun leaderboard to encourage healthy competition with crypto donors. It’s neat to see the breakdown of who donated and when they sent crypto.
In 2023, the organization did something really cool for the first time, though. Save The Children started using Stakwork to support youth earning Bitcoin for micro tasks. This is the first Bitcoin pilot that would help youth in the Philippines by letting them earn cryptocurrency. With every donation, Save The Children is able to support more youth who live in substantially unequal spaces. Through 2024, the organization hopes to begin a global humanitarian effort that impacts income and employment in communities that face the most inequality. As if anyone really needed more reasons to support this children’s organization, their Bitcoin efforts just adds to it all.
Did you know that the IRS considers Bitcoin as property? If you were to donate from your crypto wallet, you might be able to offset some capital gains tax. Bitcoin is also tax deductible because of how the IRS classifies it. Save The Children also recognizes that not everyone wants to have their donation announced or made public. Bitcoin contributions are able to be made totally anonymously while still receiving an email receipt if desired. The best part is that all Bitcoin donations to Save The Children can be verified on-chain to make sure your investment gets where it’s going. If you have some spare change in your crypto wallet, ask your tax advisor