JustGiving has announced it will begin accepting cryptocurrency donations, making it the first UK fundraising platform to do so.
Effective this week, donations from over 60 different forms of cryptocurrency will be accepted on the platform, including major cryptocurrency coins like Bitcoin and Ethereum.
The London-based JustGiving has partnered with US-based crypto fundraising platform the Giving Block to facilitate the new donation method.
£1.5bn in crypto previously donated to good causes
According to the Giving Block’s 2024 annual report, there are around 580 million crypto users worldwide, while an estimated £1.5bn in cryptocurrency has been donated to charitable causes.
Donations made through crypto assets are not subject to capital gains tax, which is thought to have driven the increase in the volume of donations made in this way.
Through the partnership, it will be easier for cryptocurrency donations to be integrated into all UK fundraising pages on JustGiving. Charities will be able to offer cryptocurrency as a giving method directly alongside more traditional methods.
Meanwhile, cryptocurrency funds raised on any JustGiving page will be automatically and instantly converted into GBP before being distributed to the charity, ensuring that charities will be able to benefit from the sums in full.
Crypto donations will ‘unlock huge amount of unrealised potential’
Pascale Harvie, president and general manager of JustGiving, said: “We are proud to have a culture of innovation which has allowed us to play a central role in the tremendous growth of online fundraising over the past two decades.
“In recent years there has been a surge in the use of cryptocurrencies and our decision to enable cryptocurrency donations is the latest demonstration of our commitment to forward-thinking innovation.
“By incorporating a new seamless way of donating cryptocurrency, we hope to unlock a huge amount of unrealised potential to drive more donations for our charity partners.”
Reacting to the news, Rhodri Davies, founder of the think tank Why Philanthropy Matters, said: “At a time when funding is not easy to come by and the value of crypto is riding high, the news that a high-profile platform like JustGiving is now offering an easy and relatively risk-free way for charities in the UK to tap into cryptocurrency will be welcome news for many.
“There are still wider questions about the inherent volatility of crypto assets, and the technology's environmental impact, but as long as charities understand these issues and put appropriate policies in place, the promise of a potential new market of crypto donors is likely to prove very appealing.”
