Gemini Partners The Giving Block To Enable Crypto Donations To Non-profits
By RTTNews Staff Writer | Published: 2/26/2021 9:20 AM ET
Gemini, a crypto-exchange and custodian owned by Internet entrepreneur twins Cameron and Tyler Winklevoss, has teamed up with crypto-donations company The Giving Block to launch a “Donate” feature to enable its users to seamlessly donate cryptocurrency such as Bitcoin to their favorite charity.
Gemini users can start donating by using the “Give Back With Crypto” prompt in the Gemini Mobile App and on Desktop. Users can donate bitcoin and other cryptocurrencies to a list of more than 135 non-profits worldwide via The Giving Block.
The Giving Block makes it easy for nonprofits to accept cryptocurrency donations and for users to donate in a more tax efficient way and converts all donations to US Dollars within seconds.
These donations will also help users to lower their income tax bill as donating crypto is not spending crypto. When the user donates cryptocurrency to a nonprofit, it erase their capital gains tax burdens, which does not happen when they donate US dollar with a credit card.
Gemini is now claimed to be the first cryptocurrency exchange to directly incorporate charitable giving to over 135 nonprofits. These organizations support a variety of causes like clean water, childhood hunger, homelessness and human rights.
These charities are located all around the world and provide aid and assistance to people who need it most. Thousands of Gemini users have already overwhelming supported this feature by donating on a regular basis.
In late January, the American Cancer Society (ACS) partnered The Giving Block to launch a new Cancer Crypto Fund, which is the first-ever cancer fund that is exclusively funded by cryptocurrency donations to be used to fight cancer.
The funds raised through the Crypto Cancer Fund will go directly to fund ACS’ cancer research program for new discoveries and better treatments to save the lives of family and friends.
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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.
Article reposted on Markethive by Jeffrey Sloe