Is Bitcoin The Best Making Donation?

[Cray4Cryptz]

Several reputable charities that operated around the world are now starting to receive bitcoin donations.

What do you think is the edge of bitcoin compared to traditional money?

Donations are tax free right?

[bornil267645]

Well tax free donations are alright compared to the traditional money, also the fact that anonymity is a big factor for secretive doners. So that's huge plus for BTC.

[Amph]

the pseudo anonimity of bitcoin help a lot here, but not only that, it is much easy and faster to send bitcoin to charity than forwarding a wire transfer or sepa

and is tax free too, because you are not converting btc you just spend them

[LiteCoinGuy]

i regularly make donations and only use BTC for that. so yes, its perfect.

[crazyivan]

I would say it s also safer. I do not feel imputing my CC number anywhere online and BTC resolves this issue. Also, since I already have funds in BTC, this eliminates transaction costs and currency exchange costs.

[fox19891989]

Several reputable charities that operated around the world are now starting to receive bitcoin donations.

What do you think is the edge of bitcoin compared to traditional money?

Donations are tax free right?

Advantages: compared to bank wire transfers, btc transfers cost cheaper fees and is much faster than bank wire transfer.

BTC is anon, so you don't need provide your personal info to others, that's another advantage.

[bryant.coleman]

That depends on where you live. In countries such as United States, there are legal formalities which sometimes prevent anonymous donations. Also, tax-related issues with Bitcoin donations can be quite a headache.

[Synister]

Great news if some charities have received Bitcoin as a payment system for transacting through bitcoin will be faster, efficient.

[ikydesu]

Bitcoin as donation is perfect option! Fast, dont need verify, free tax, but dont forget to use escrow
i remembered about article which someone care to homeless, he's brings coffee and bitcoin: https://letstalkbitcoin.com/blog/post/changecup-nyc-brings-coffee-and-care-to-homeless-dmnyc-part-1


~iki

[Sutters Mill]

I guess the possibility of donating anonymously may be a plus, though on the flip side this could be used for nefarious donating (easy to possibly send money to terrorists or other causes that may be controversial). I think being able to accept a universal currency will have its benefits or for those that don't have credit/debit cards or even a bank account.

[Hazir]

Bitcoin as donation is perfect option! Fast, dont need verify, free tax, but dont forget to use escrow
i remembered about article which someone care to homeless, he's brings coffee and bitcoin: https://letstalkbitcoin.com/blog/post/changecup-nyc-brings-coffee-and-care-to-homeless-dmnyc-part-1


~iki

Honestly, this is not good at all. Homeless people don't need bitcoin. They need basic things, not sophisticated payment method/digital currency. Don't be a hypocrites here. As far as donations goes it would be all right to donate to charity with bitcoin, after all bitcoin is: potentially anonymous, faster to transfer and cheaper to transfer. But I think that some people are just doing donation with bitcoins to be called hipsters and to show off.

[cakir]

I think vice versa.
Charities collecting bitcoin, that's awesome but, they need "fiat money" to spend it. So they need to exchange bitcoins.
When they do this via an exchange it'll look like a "business transaction" on their bank accounts. Because they got fiat money from a corporation not from individuals etc.
Why is that a problem? Can't an exchange donate some money to a charity?
Of course they can, but the problem is the amount of donation. Most of country laws has up limits about donations, so they need to explain this income. That's some controversial issue. Each charity should act according to their country's laws.

If they don't then they'll be charged some serious felony such as "money laundering" etc.

[josef2000]

Btc is faster, more secure and more anonymous than other methods. Charities receive money instantly and doesnt have to wprry about chargeback problems. Also it would be tax free, as the government doesnt have any control over the blockchain
Also the transaction fees are super low compared to other services