You already know that Overflow is bringing publicly-traded stock donations into the 21st century...but did you know that we also facilitate crypto donations?
Like stock giving, Overflow is here to simplify and streamline the complex process of donating cryptocurrency gifts, enabling you to donate your high-value crypto in just a few clicks to Overflow nonprofits that have this option on their giving page. We're fortunate to partner with The Giving Block which has been building & facilitating crypto donation technology since 2018.
WATCH THE CRYPTO GIVING EXPERIENCE
STEP-BY-STEP: HOW TO DONATE CRYPTO VIA OVERFLOW
1. Click the Donate Crypto button on your favorite nonprofit's website. Please note that your favorite nonprofit must have this option activated for you to give gifts of crypto via the Overflow platform.
2. Select the coin you wish to donate. Either scroll through the dropdown menu to find your cryptocurrency of choice or start typing the name of the coin in the search bar. Currently, we only accept coins that are supported on the Gemini exchange. Learn more about which cryptocurrencies are accepted.
3. Enter the dollar amount of crypto you wish to donate. You can see the fraction of cryptocurrency this equates to on the right. If you prefer to enter the amount of coin, simply click the arrow toggle to switch to that option.
4. If the nonprofit has any specific campaigns they are fundraising for, you can select one to which you'd like to give from the dropdown menu. Once you choose a campaign, the option to select a subcampaign may appear if your nonprofit has subcampaigns established. You also have the option to leave a note about your donation. This is a great way to donate on behalf of a loved one or in memory of someone, or to specify how you'd like the funds to be used.
5. Next, you'll be prompted to create an account or log in by entering your phone number. You can choose to use an email address instead by clicking "Use Email". If you've donated through Overflow before, this will connect to your pre-existing account. If you are donating for the first time, you will never have to create a password! Just use the same email address or phone number every time and a one-time passcode will be sent to that email or phone number to access your account.
6. Enter your personal information including your first and last name, email address or phone number, and mailing address. This information will be shared with the nonprofit and will never be sold or used to send unsolicited messages.
7. Select if you'd like to participate in your employer's charitable gift matching program. This is a great way to double, or maybe even triple your donation. Learn more about Overflow's gift matching feature here.
8. You can choose to make your donation anonymous if you wish. Learn more about anonymous donations through Overflow.
9. ⚠️ IMPORTANT: The next step requires additional action! Once you complete your personal information, you'll be brought to a screen that provides an easy-to-use giving code that you must place into your crypto wallet to complete the donation. This code contains the donation information you've selected including the type of coin, amount of coin, and the destination wallet ID. To complete the donation, you can:
A) Use the photo app on your phone to scan the QR code which will copy the unique giving code to your clipboard.
B) Copy the unique giving code by tapping the double paper icon.
Then go into your crypto wallet to finish the donation.
10. You'll receive a reminder email as soon as you reach this page, as well as the day after if you have not completed the donation. The email will contain the above giving code so you can easily access it to complete the donation.
WHAT HAPPENS NEXT?
- Once you enter the provided giving code into your crypto wallet and finish the transaction, your donation is complete! 🎉
- You'll see the gift leave your wallet almost immediately.
- Upon receipt of your donation, the nonprofit will be able to send you a charitable acknowledgment letter for you to use for tax purposes. Learn why you need an acknowledgment letter.
Just like donating stocks with Overflow, it's really that easy.
Why am I pledging to give crypto rather than completing my donation right then and there?
Due to the nature of cryptocurrency transactions, you must initiate all outgoing transactions from your crypto wallet. The Overflow platform makes it easy to donate by providing the donation information you've selected including the type of coin, amount of coin, and the destination wallet ID so you can simply scan the QR code or copy the link and complete the donation from within your wallet.
Why do I see a message that my crypto donation may qualify for an appraisal?
If you wish to claim a charitable tax deduction for crypto gifts over $5,000, you will need to have the donation appraised by an outside party. The receiving nonprofit is tax exempt and therefore does not need to conduct an appraisal for receiving the donation. Learn more about why you might need a crypto appraisal and what to do about it.