Cryptocurrency Donations

List of 5 frequently asked questions.

• Q. Is the process of giving cryptocurrency safe and secure?

  As with any form of electronic payment or transaction, 有风险, 然而, our vendor Engiven has created certain safeguards they believe are needed to ensure that the transaction is secure. With the transfer of cryptocurrency from donor to nonprofit, Engiven believes the transaction can actually be more secure than many other forms of payment, provided certain protocols are followed: 1) By using the Engiven platform, both the nonprofit and the donor are required to undergo a simple but effective Know Your Customer (KYC) and Anti-Money Laundering (AML) screening which provides a high level of background security to ensure both parties are properly screened. 2) As with any cryptocurrency transaction, when transferring your tokens to esball世博's wallet to make a donation, do not expose or share your wallet’s private keys at any time.

• Q. Is it legal for esball世博 to accept donations of cryptocurrency?

  是的. It is lawful for a nonprofit to accept a donation in the form of a cryptocurrency. 2014年3月, the United States Internal Revenue Service (IRS) ruled that Bitcoin is treated as property for tax purposes (IRS Notice 2014-21).

• Q. How can I designate my gift to a specific program or service?

  If you would like to designate your cryptocurrency gift to a esball世博 program or service, please contact Cindy Erwin at esball世博.

   

• Q. How are cryptocurrency donation treated for Federal Tax purposes?

  对你.S. tax purposes, transactions using virtual currency must be reported in U.S. 美元. T在这里fore, taxpayers will be required to determine the fair market value of virtual currency in U.S. 美元 as of the date of donation. If a virtual currency is listed on an exchange and the exchange rate is established by market supply and demand, the fair market value of the virtual currency is determined by converting the virtual currency into U.S. 美元 (or into another real currency which in turn can be converted into U.S. 美元) at the exchange rate, in a reasonable manner that is consistently applied. Donors who give cryptocurrency donations to esball世博 will receive an electronic donation receipt (through the Engiven donation platform) in US 美元 with comprehensive details about each transaction.

   

• Q. 什么是加密货币?

  Cryptocurrency, also known as Virtual Currency or “Crypto,” is a digital asset designed to function as an alternative to sovereign fiat currency (US Dollars, for example) w在这里by transactions between two parties are verified through a public, 分布式分类帐, also known as a blockchain. Most people think of Bitcoin and/or Ether when they hear the word “Crypto,” and while Bitcoin is the original cryptocurrency and most widely followed, t在这里 are a number of cryptocurrencies currently available.