Trees for the Future (TREES), a nonprofit that provides countries around the world with seeds to grow more trees, will now be accepting cryptocurrency donations towards its cause.
According to a blog post from the nonprofit, they will now be “accepting donations made via Bitcoin, Bitcoin Cash, ETH, Litecoin, Zcash, and Gemini Dollar.” Interestingly, they aren’t just accepting donations in Bitcoin, as many companies that aren’t too familiar with the cryptocurrency space tend to do. This showcases that the other cryptocurrencies aside from Bitcoin are beginning to be noticed as well.
Jennifer Tepper, the Director of Development at TREES, shared some thoughts on the matter:
“We’re ecstatic to offer this avenue of giving to people who want to help end hunger, poverty, and deforestation with TREES. Donors make our work possible and it’s important to us to make that process easy and mutually beneficial.”
Users can donate on the website at trees.org.
The Giving Block is partnering with TREES to ensure that this can happen. Speaking on the collaboration is one Alex Wilson, the co-founder of The Giving Block, who says:
“There are two major factors for why people donate cryptocurrency. The first is the tax incentive. Because the IRS classifies cryptocurrency as property, that means that donors do not have to pay capital gains tax and can write off the donation on their taxes. If they sell to cash first and then donate, that means getting hit with 20-30% in taxes. Second, donating crypto is faster and easier than using traditional methods. For most people, it takes just seconds to pull up their wallet and send a donation to their favorite nonprofit.”