Chief of Staff & COO, Global Liberty Alliance
Global Liberty Alliance is pleased to announce that our supporters can now make secure, easy and effortless donations using Bitcoin and other cryptocurrencies. It is a major step in enabling people to contribute to the cause of liberty and our ongoing effort to spread the awareness about the importance of fundamental human rights so it is accessible to anyone.
Why the Need for Cryptocurrency Donations?
Over the past few years, Global Liberty Alliance has received many inquiries from our supporters asking us whether it’s possible to contribute to our efforts using cryptocurrencies like Bitcoin. We understand why donating with digital currencies might be the preferred way of contributing to our legal defense fund for many people, and that for some people it might even be the only way.
Globally, almost 2 billion adults are still unbanked. These people have no access to any financial services, whether through traditional bank accounts, or through online payment processors. Underprivileged people in developing countries cannot enjoy the benefits of using a traditional banking system, and these countries are often the same ones where financial service providers like PayPal do not operate.
The situation is not as bad in the United States, but according to estimates as much as 5.4% households in the US (7.1 million households) are still unbanked. Members of ethnic minorities groups and undocumented migrants do not have the privilege of using the banking services that many people nowadays take for granted.
Cryptocurrencies are much more inclusive, and they are easily accessible to anyone as long as they own a computer or a mobile device with Internet connection. Developing countries make the top of every list of cryptocurrency adoption: according to surveys, digital currencies like Bitcoin are the most popular in countries such as Nigeria, Vietnam, Philippines and Peru.
For years, cryptocurrencies have also been very popular in countries like Venezuela, where access to the banking system is limited, and where the trust in the national currencies is low. Digital assets like Bitcoin have established themselves as a secure, reliable and independent way of paying for millions of people around the world.
What Are the Benefits of Donating with Crypto?
For some people, cryptocurrency donations might be the only way they have to contribute to the cause of upholding fundamental human rights and basic civil liberties. But even for people with the option of using traditional bank wires or payment processors like PayPal, there are still significant advantages of contributing with digital currencies.
Many individuals prefer to donate to charities and non-governmental organizations with property instead of cash. The reason for that donating to a 501c3 nonprofit with property is much more tax efficient and can save people a lot of money.
Since cryptocurrencies are officially recognized as property and not as a currency according to the IRS, contributing to our cause with digital assets like Bitcoin shares the same benefits as donating property. Donating with cryptocurrency entitles you to a larger tax deduction than if you contributed through a bank wire or PayPal. The difference sometimes can even amount to over 30%.
Receiving a tax receipt while donating with cryptocurrency is easy. There is no need for any effort, as the tax receipt is immediately sent to the email address you provide while making the donation. Some people might also be interested in another advantage provided by cryptocurrencies: anonymity. If donating to the cause of upholding human rights and basic civil liberties would put you in danger or inconvenience, cryptocurrency donations are a way to contribute without requiring you to sacrifice your privacy.
How to Donate with Cryptocurrency?
Donating cryptocurrency is fast, simple, and looks the same regardless of which digital currency you prefer to use. The list of supported cryptocurrencies includes these digital assets: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Amp (AMP), Basic Attention Token (BAT), Bitcoin Cash (BCH), ChainLink (LINK), Dai (DAI), Gemini Dollar (GUSD), Storj (STORJ), Zcash (ZEC), and 0x (ZRX).
Last year GLA partnered with The Giving Block to help us facilitate the cryptocurrency donation process. They are an amazing group of people who are helping non-profits reach their goals. Be sure to check them out. To donate with any of the cryptocurrencies via the Giving Block, go to the GLA donor platform.
You can choose your preferred digital currency, and be asked to type in the amount you want to donate. The platform automatically displays the value of the selected amount in US Dollars, so you can be certain about the exact fiat currency equivalent of the cryptocurrency you are sending. After choosing the cryptocurrency and your donation, you will be given the option of either providing your personal information, or of contributing anonymously. If you choose not to provide any personal data, you will still may receive a tax receipt to your email address.
In the next step, you will be presented with a wallet address. Open your favorite cryptocurrency wallet application and send the intended selected digital asset to the provided wallet address to finalize the donation. Be sure that the wallet address you are sending funds to is the same as the wallet address displayed on the website, and that you are sending the selected cryptocurrency and not some other digital asset.
If you send funds to a wrong address, or if you send different cryptocurrency than the one you originally selected, the donation will not clear and your funds will be irrevocably lost. By donating, or we prefer to use the term “investing,” your cryptocurrency donation will be put to good use and help strengthen fundamental individual rights, free markets, and the rule of law. What we post on the website is a small percent of the work we do.
If you would like to learn more about programming, please contact us at firstname.lastname@example.org or call us at 1-703-566-3041. To donate with any of the cryptocurrencies via the Giving Block, go to the GLA donor platform.