May 19Cryptocurrency – A New Way of Donating to Mercy Housing
A New Way of Giving
There is a new generation of philanthropists and with them a new way of donating. Cryptocurrency, or “crypto” as it is often referred to, is the fastest growing method for Millennials and Generation Z to donate.
It is estimated that in 2021, there were more than 300 million users holding at least one form of cryptocurrency – Bitcoin and Ethereum being the most popular. It is expected that the number will reach more than 1 billion by the end of 2022.
With the charitable giving landscape changing each day, Mercy Housing is excited to welcome a new generation of donors to help us build and provide affordable housing communities and resident services.
“Donating cryptocurrency has been rising in popularity,” says Connie Rule, Senior Vice President of National Philanthropy for Mercy Housing. “Donating crypto is quick, easy, and secure. We are excited to offer donors another way to support our goal of building and providing affordable housing communities and services for people living with low income.”
What is Crypto?
Cryptocurrency or “crypto” is decentralized digital money designed to be used over the internet. Launched in 2008, Bitcoin was the first cryptocurrency and remains the most influential and best-known form of digital currency. Donating crypto is an easy and secure way to support Mercy Housing as we continue our mission to build affordable housing communities and resident services for those who need it the most.
Benefits of Donating Cryptocurrency
The benefit of donating is simple – taxes. Donating crypto is a nontaxable event. In fact, you can deduct donating cryptocurrency from your taxes. “Since crypto is recognized by the IRS similarly to stocks, that means crypto holders own capital gains at the end of the year – by donating crypto you can offset these gains and give more” Rule added. Another reason to consider donating cryptocurrency is that your transaction remains transparent – this is very attractive to those who prefer to use digital currency because they can see exactly where their donation is going to be used.
To summarize, the main benefits of donating cryptocurrency include:
- Faster transactions
- More secure than the traditional ways to donate
- Provide more transparency for donors
- Tax benefits
- Supports Mercy Housing residents as they transform and improve their lives through stable housing and comprehensive Resident Services programming
Accepted Forms of Cryptocurrency
Mercy Housing accepts over 80 forms of cryptocurrency. Have some crypto you would like to donate? Give here https://www.mercyhousing.org/crypto/
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