Fundraising using cryptocurrencies is key to achieving strong long-term results, especially among millennial and Gen Z donors. While donors give hundreds of millions of dollars in cryptocurrencies to charities every year, the appeal of cryptocurrencies is not just in the numbers.
With today’s donors averaging 65 years of age, nonprofits must act now to secure the future of their organizations and effectively manage young donors.
Why cryptocurrency? With the mainstream adoption of cryptocurrencies skyrocketing, the vast majority of millennial millionaires owning cryptocurrencies, and a growing number of younger investors losing faith in traditional assets, it is clear that crypto fundraising will become an increasingly important giving method for the next generation of philanthropists.
But what’s the best way to accept cryptocurrency donations in 2023? Since there are many platforms out there, let’s look at the options available to nonprofits and other charities.
What’s the best way to raise funds and accept cryptocurrency donations?
Over the past few years, cryptophilanthropy has helped nonprofits of all shapes and sizes reach their fundraising goals. Crypto finance has even helped some nonprofits overcome significant funding shortfalls caused by the COVID-19 pandemic.
The key word here is “fundraising”. The most successful crypto donors are those nonprofits that actively build a community of supporters in the crypto space—through genuine efforts in education, governance, collaboration, and fundraising.
Not sure how much time and money to invest in cryptophilanthropy? If you’re just dipping your toes in the water and don’t actively learn how to fundraise for crypto, you’ll be betting on crypto donors finding your cause.
On the other hand, approaching cryptocurrency with caution and hesitation can greatly limit your success, as crypto donors are passionate and generous people and prefer to support organizations that can meet them where they are.
Considering the DIY option?
While anyone (including nonprofits) can open a digital wallet that allows them to transact with cryptocurrencies, simply having a digital wallet is not a sufficient solution for most nonprofits that want to successfully raise funds from young, modern philanthropists.
First, digital wallets require knowledge about cryptocurrencies and blockchain. Secondly, you will most likely need multiple wallets to accept different types of assets. Additionally, crypto wallets will not provide your donor with the required receipt.
And most importantly, a digital wallet requires your team to be responsible for security, donor privacy, regulatory compliance, and donor receipts, which can be especially challenging if you receive generous but anonymous cryptocurrency donations.
If you spend too much time worrying about these issues, your team will waste valuable time that they could be using to develop a unique cryptocurrency fundraising campaign. Luckily, PTPShopy has some good solutions to help your team maximize your crypto fundraising results.
Choosing the Best Crypto Fundraising Platform for Your Nonprofit
Your team should also consider whether the solution has comprehensive offerings that make it truly valuable to your nonprofit and worth the investment. Here are some product characteristics and added value factors that these solutions can offer:
- Support for popular cryptocurrencies
- Simplified setup and wallet management
- automatic tax receipts for donors
- Crowdfunding or peer-to-peer fundraising opportunities
- Donation matching initiatives
- 27/7 support
- Popular Tools for Creating Donation Campaigns
- Possibility of using social networks for marketing
- Services for wealthy donors
- Acceptance of donations for stock assets
As you’d expect, each platform offers a different set of features. Essentially, choosing a cryptocurrency fundraising solution is an important decision because it can impact how prepared your team is to take advantage of the crypto community’s generosity and handle the new influx of cryptocurrency donations.
Best Crypto Fundraising Solutions for Nonprofits
While a few nonprofits like the Red Cross already accept donations in cryptocurrency, most of these early adopters have moved on from their initial solution as competitors began offering more tools and services.
We compared popular cryptocurrency fundraising solutions for nonprofits: PTPShopy, Engiven, FundraiseUp, and Classy. Below are charts that outline the benefits and offerings of these different cryptocurrency fundraising solutions.
A Comparison of Several Important Product Features of Crypto Donation Platforms
Feature | PTPShopy | Engiven | FundraiseUp | Classy |
Crypto Donations Accepted | Yes | Yes | Yes | Yes |
Number of Cryptocurrencies Accepted | 400+ | ~100 | ~100 | 10 |
Starting Package Cost | 0.99% per transaction | $$ | 4% per transaction | Custom Price |
Many Different Campaigns under One Charity | Yes | – | – | – |
Build-in Crypto Wallet | Yes | Yes | No | No |
Crowdfunding Platform | Yes | No | No | No |
Automatic Tax Receipts | Yes | Yes | Yes | Yes |
Should your nonprofit choose PTPShopy?
Nonprofits that choose PTPShopy can take advantage of a powerful crowdfunding platform that will help them learn how to raise funds from this new demographic of crypto donors. Combined with a reputation as a leader in crypto payments, nonprofits using PTPShopy receive a premium cryptocurrency fundraising solution for nonprofits.
PTPShopy prices do not change from package to package, they are always the same – 0.99% per donation payment. And withdrawal of funds from a crypto wallet to third-party wallets or exchanges is 0% $ and does not require additional commissions. This is usually lower than competitors. With so many offerings, this solution is ideal for nonprofits looking to learn the ropes of cryptocurrency to successfully fundraise and build a community of supporters from this new donor demographic.
Bottom line, PTPShopy is a competing donation tool.
The easiest way to start accepting cryptocurrency donations is to register with PTPShopy and create your first fundraising campaign yourself. You will see that anyone can do this.