It used to be a rare phenomenon for charities to accept digital currencies as donations. Today, many non-profits now accept crypto donations and even prefer it to traditional methods of charity. Cryptocurrency donations offer many significant advantages to both the donor and the recipient.
It’s fast, easy, secure, and offers numerous tax advantages. While Bitcoin and Ethereum paved the way for crypto donations, many charities accept donations in several other digital cryptocurrencies, including Dogecoin, enabling them to reach a wider community.
This article will educate you on everything you need to know about donating Dogecoin to charities and hint at well-known charities that accept this digital currency as donations.
A Brief History of Dogecoin
Dogecoin is a peer-to-peer, open-source cryptocurrency founded in 2013 with a distinct Shiba Inu dog as its logo. Surprisingly, Dogecoin was launched somewhat sarcastically and was based on the infamous doge meme.
Jackson Palmer and Billy Markus created Dogecoin. You can mine, buy, trade, or tip Dogecoin to content creators. Unlike most other sister cryptocurrencies, there is no cap to how much time you can mine Dogecoin.
Dogecoin’s casual representation tallies with the primary purpose of crypto, and it’s no surprise that the community welcomed it as a donation method to charities around the globe. The death of the core developer of Dogecoin to cancer spurred the coin holders to urge that cancer organizations start accepting Dogecoin donations.
This movement was successful, as it inspired charity organizations to accept donations in cryptocurrencies. So far, so good; the innovation has recorded massive success as Dogecoin holders can now donate cryptocurrency to support charity.
Why Nonprofits Accept Dogecoin Donations
Dogecoin’s market cap is around $23.37 billion and is currently the 11th largest cryptocurrency globally. This figure puts the coin up with prominent cryptocurrencies and is enough reason for nonprofits to accept them as donations. With that said, here are a few other reasons why most charities accept Dogecoin donations.
Increasing Community of Holders
A critical reason why charities accept donations in Dogecoin is its ever-growing community. The cryptocurrency is more accessible than most other digital currencies, explaining its massive community of active holders. Charity organizations understand that getting these holders to donate cryptocurrency to charity will be more feasible than using a relatively unknown coin.
Ease of Transaction
One of the most crucial aspects contributing to bitcoin’s massive success is the ease of transacting with the currency. Since Dogecoin shares a similar architecture to Bitcoin, it naturally enhances identical transactions, and this quality encourages holders to donate Dogecoin whenever the option is available.
Tax advantages remain one of the most critical advantages of cryptocurrency donations. Donating Dogecoin and other cryptos allows you to save money on capital gain taxes. It’s therefore not surprising that holders and charities prefer this donation method.
Additionally, you’ll be exempt from paying transaction fees which are compulsory if you’re donating fiat currency. Taxes and transaction costs reduce your donation amount, forcing you to pay more than you plan to give out. With them out of the way, you can give as much as you can to support your favorite charity.
These are the different advantages of donating Dogecoin. While they seem impressive, it’s vital to be wary of the imperfections of this payment method. For instance, the coin is highly volatile, making it challenging to help a cause that requires a specific amount of money using Dogecoin. If you’re looking to pay for someone’s treatment, you’re better off donating dollars.
Charities can avoid this disadvantage by converting the money to fiat currency immediately after receiving it. However, this constitutes an extra unnecessary step and goes against one of the main points why nonprofits accept charities in Dogecoin in the first place.
Talking about nonprofits that accept Dogecoin, the following section will outline some charity organizations that let you support their cause with your Dogecoin.
Charities that Accept Dogecoin Donations
If you have some Dogecoin to spare, you may wonder: who accepts Dogecoin donations? Once upon a time, nobody was willing to do it, but today, tens of charity organizations accept donations in numerous cryptocurrencies, including Dogecoin.
Here are some charities that accept Dogecoin donations.
Food for Life Global
Food for Life Global is a nonprofit organization that serves as an international headquarters for a network of over 260 affiliate projects in over 60 countries. The organization addresses the root cause of hunger and other social vices by providing quality vegan meals to the needy worldwide.
It’s the largest food relief organization globally, with billions of meals served across 60 countries. The charity also undertakes animal rescue, farming, and schooling projects. You can visit the donation page to donate Dogecoin at ffl.org.
American Cancer Society
The American Cancer Society is a voluntary organization that aims to eliminate cancer by providing the needed support to cancer patients in the US and around the world. Established in 1913, they currently accept Dogecoin donations.
You can make tax-deductible cryptocurrency donations on the organization’s official website. With the effects of covid-19 affecting donations in fiat currency, there seems to be no better time to donate Dogecoin than now. Donated cryptocurrency goes to helping cancer patients and funding cancer research.
The Giving Block
The giving block is a cryptocurrency donation platform. Donation platforms collect cryptocurrencies and distribute them to the organizations registered with them. Notable non-profits like Food for Life Global and Save the Children use The Giving Block.
Note that this isn’t an exhaustive list of the charity organizations that accept donations in Dogecoin. Several others offer this option, and you can also donate through other cryptocurrency donation platforms.
There is no doubt that donating cryptos to charities is an applaudable gesture. However, it would be best if you only contributed through the charity’s official donation page or a reputable crypto donation platform.
If you’re trying to donate Dogecoin through a Bitcoin donation address, kindly recheck to confirm that the organization accepts donations in Dogecoin before retrying. We hope this article helps you with the information required to donate to charities using Dogecoin.