top of page

Donate Crypto 

Crypto philanthropy is a powerful and efficient way to support our mission in this new era of digital finance and commerce. We believe the emerging space of decentralized web protocols, blockchains, cryptocurrencies, and beyond can be a powerful force in helping our youth. The crypto community can truly make an impact on the lives of our youth.

WHY DONATE BITCOIN AND
OTHER CRYPTOCURRENCIES TO ELK HILL?

Save on your Taxes by Donating Crypto

Why Donate Crypto Directly? Taxes!

 

There’s a reason high net worth individuals tend to donate property instead of cash. Donating cryptocurrency directly to a 501c3 nonprofit is more tax efficient and can save you money.

 

The IRS classifies cryptocurrency as property for tax purposes which means it is typically the most tax-efficient way to support your favorite cause. When donating crypto, you receive a tax deduction for the fair market value of the crypto, and you avoid the capital gains tax you would have incurred if you had sold the crypto and then made a donation. That means you’re able to donate more, as well as deduct more from your taxes. The difference? Sometimes more than 30%.

  • How can I donate Bitcoin or other cryptocurrencies to Elk Hill?
    Currently, we accept direct donations of Bitcoin, Ethereum, and supported cryptocurrencies through our donation portal powered by The Giving Block. All that is required is the most basic knowledge of conducting cryptocurrency transactions and a desire to give. While we are working to streamline the giving process across protocols, we only accept direct donations through The Giving Block's system (which is built upon our Gemini exchange account).
  • Which cryptocurrencies do you accept?
    We only accept cryptocurrencies specifically listed by The Giving Block. This list is subject to change and can be verified either within The Giving Block's widget or The Giving Block's website. Bitcoin (BTC) Ethereum (ETH) USD Coin (USD) Polkadot (DOT) Solana (SOL) Dogecoin (DOGE) Shiba Inu (SHIB) Polygon (MATIC) Dai (DAI) Litecoin (LTC) ChainLink (LINK) Uniswap (UNI) Bitcoin Cash (BCH) Decentraland (MANA) Filecoin (FIL) The Sandbox (SAND) ApeCoin (APE) Fantom (FTM) Axie Infinity Shards (AXS) Tezos (XTZ) Aave (AAVE) Zcash (ZEC) Maker (MKR) The Graph (GRT) Gala (GALA) Quant (QNT) Enjin Coin (ENJ) Loopring (LRC) Synthetix (SNX) Basic Attention Token (BAT) Curve Dao Token (CRV) Amp (AMP) Compound (COMP) Skale (SKL) PAX Gold (PAXG) yearn.finance (YFI) Audius (AUDIO) Ankr (ANKR) 1inch (1INCH) Bancor Network Token (BNT) 0x (ZRX) Liquity USD (LUSD) Livepeer (LPT) Render Token (RNDR) Dogelon Mars (ELON) Rally (RLY) UMA (UMA) SushiSwap (SUSHI) Storj (STORJ) Spell Token (SPELL) Ren (REN) Lido (LDO) Maple Finance (MPL) Ethereum Name Service (ENS) Raydium (RAY) Injective (INJ) Fetch.ai (FET) Merit Circle (MC) Civic (CVC) Liquity (LQTY) Orchid (OXT) Numeraire (NMR) Keep3r (KP3R) API3 (API3) Mirror Protocol (MIR) Wrapped Centrifuge (WCFG) Mask Network (MASK) Balancer (BAL) Alchemix (MIST) DeFi Pulse Index (DPI) Smooth Love Potion (SLP) BarnBridge (BOND) Saber (SBR) Moss Carbon Credit (MCO2) Kyber Network (KNC) Magic Internet Money (MIM) Somnium Space (CUBE) Radicle (RAD) Gemini Dollar (GUSD)
  • For cryptocurrencies that exist on multiple networks, like Polygon (MATIC), which exists as an ER-20 token and Ethereum and separately on their own network-- which one do I donate?
    Scrolling through the supported assets on The Giving Block widget will show whether or not the token is an ERC-20. In these cases, The Giving Block will likely accept the Ethereum (ERC-20) version of a token which lives on multiple networks. Always verify which one is supported before donating.
  • Is there a preferred cryptocurrency for donating?
    To us, all direct cryptocurrency donations through The Giving Block are functionally the same since they're all converted to USD immediately and put to use in our mission sooner.
  • Is my donation refundable?
    No. Blockchain payments are non-refundable by design. Always check the accuracy and authenticity of any address you're sending cryptocurrency to. This is best practice for any bitcoin or cryptocurrency transaction.
  • Will I get a tax receipt with my cryptocurrency donation?
    Yes, when you donate through our Giving Block portal, you will be prompted to submit your email to receive an automatic tax receipt.
  • Can I donate anonymously and still get a tax receipt?
    Yes, if you wish to donate anonymously, you can submit only an email to receive an automatic tax receipt and provide no further personal information.
  • Can I donate the proceeds of an NFT charity auction or other WEB3 application?
    Yes, but with some consideration. For example, while split payments of NFT auction proceeds can be configured with our ETH address (which is fundamentally a Gemini exchange wallet), you would not be able to receive a tax receipt in this automated value flow. A bulk or recurring direct donation of auction proceeds would allow you to receive tax receipts. Also, bear in mind that web3 systems like NFTs or decentralized finance (DeFi) applications have their own considerations regarding taxes. The Giving Block has published a basic overview of NFT-related tax situations.

CRYPTO DONATION FAQS

bottom of page