When Speaking About Crypto
Technology consistently offers new ways to give, and we’ve come a long way from when cash was king. While online donations may seem like the latest innovation, cryptocurrency for donors has opened up a whole new world of giving. Of course, it’s a complex world. So if your ministry begins accepting crypto donations, congregants may have questions.
Fortunately, this guide has the answers you need. The world of digital coinage is certainly complex, but accepting such donations doesn’t have to be confusing. In fact, you can set up a crypto wallet through DonorWERX in just minutes. While this ease is certainly beneficial for the work you do, conveying the necessity of cryptocurrency for donors is of vital importance.
Explaining Why You’re Accepting Crypto Donations
Once you decide to accept crypto donations, you’ll typically need to explain this to your congregation. Parishioners with cryptocurrency experience may wonder about the reasoning behind the shift. Those with no experience may question the safety behind the technology. Whatever concerns your ministry has, it’s essential to be transparent and forthcoming with information.
The following explanations of why your church now accepts contributions via cryptocurrency for donors will help in that endeavor.
Crypto Donations on the Rise
Just because something can be used as currency doesn’t mean it’s an ideal giving option. For instance, some states have passed laws recognizing gold and silver as legal tender. Dealing with the sale of such items, though, could be difficult for the ministry. This isn’t the case with cryptocurrency, and that’s one reason crypto donations are on the rise.
When we say there’s rising popularity in cryptocurrency, we don’t mean an increase of a few points. It’s much larger than that. In fact, Crypto Giving Tuesday saw an increase of nearly 600% between 2020 and 2021. This is significant. If your parishioners wonder why you’ve decided to accept crypto, this increase in donations should be enough explanation.
Donations Are Larger With Crypto
Every donation a church receives has a big effect. One thing everyone knows, though, is that larger donations have a larger effect. This is why explaining cryptocurrency to those who haven’t donated with crypto should always include information on higher giving amounts. That’s because statistics show digital coin owners give significantly more.
On average, about 33% of those who don’t own crypto donate $1,000 or more each year. This statistic for crypto owners jumps all the way to 45%. When you explain this to parishioners, it’s important not to say anything that may make them feel guilty for what they donate. It’s enough to simply let them know that appealing to crypto owners means more money for the church.
The More Donation Sources, the Better
Whether you have a congregant who donates weekly or a CEO (Christmas and Easter only) donor, they all want your ministry to succeed. If parishioners still don’t understand why the church is accepting crypto donations, you need only point out that it opens new sources of revenue. In doing so, it improves your ability to do His work.
Of course, there will be some who think offering cryptocurrency will waste resources. You can quickly assuage these fears by utilizing CryptoDonations through DonorWERX (Powered by BitDonate). That’s because setting up an eWallet only takes a few minutes, and if no donations come in, there is absolutely no cost to your ministry.
Crypto donations are simply a powerful tool, and if they don’t benefit your church, you lose nothing.
Everything Donors and Congregants Should Know
Cryptocurrency isn’t always the best answer. After all, many of the congregants of any church own zero crypto coins. You shouldn’t convince them to go out and purchase some simply to donate. In fact, giving that money directly to your ministry will save them time and hassle and remove any processing fees your church may otherwise experience.
For congregants who already own digital coinage, though, it’s important to let them know how to donate. If they’ve bought and sold cryptocurrency in the past, they might believe the process of donating it would be difficult. Fortunately, this isn’t the case at all. Consider how simple contributing is at BitDonate — the world’s largest cryptocurrency donation platform:
- Use the search function to find the desired church or nonprofit.
- Choose between 15 different cryptocurrencies to donate.
- Enter contact information to receive a receipt for the donation.
- Send a donation of any amount using the provided eWallet address.
That’s literally every step necessary for cryptocurrency for donors. Upon receipt of the donation, BitDonate sells the digital coinage at the current market rate. The money is then transferred directly to the church selected by the donor. The process is safe and secure, and BitDonate verifies a ministry’s information before distributing any funds.
Keep in mind that this is the process for BitDonate — the platform utilized by DonorWERX. We cannot guarantee either the simplicity or safety of other crypto donation vendors. If you’re considering venturing into the world of cryptocurrency for donor contributions, though, the partnership of DonorWERX and BitDonate makes it easy, fast, and affordable.
Benefits of Donating Cryptocurrency for Donors
At this point, your congregation should know why you’ve chosen to accept crypto donations. Those who have the ability to donate cryptocurrency should also know how to do it. Now, the question you need to answer is why they should do this. Increasing giving in the church always requires you to explain why someone should give, so this is just part of the normal process.
Help your congregants understand the following benefits of cryptocurrency for donors, and you might start to see digital contributions pile up.
Tax Benefits on Donations
Whenever someone sells their cryptocurrency, they’re subject to capital gains taxes. If they donate it instead, however, they don’t have to pay taxes on their profits. This is a major benefit for donors, but it also helps the ministry. After all, the money saved on taxes can serve as an additional contribution to the ministry.
Put Crypto Dust to Good Use
Whenever there’s a cryptocurrency transaction, there’s often a small amount of residual coinage left over. This leftover amount often sits in eWallets and does nothing, but that no longer has to be the case.
Cryptocurrency for donor contributions doesn’t have to come one Bitcoin at a time — although, at the current price, that would be amazing. A few fractional transactions here and there can really add up for the ministry.
One of the primary reasons people don’t give to churches is trust. Donors want to know where their money is going, and ministries often fail to make this obvious. Increasing transparency has always been a core focus of the DonorWERX Framework, but with CryptoDonations, this has gone to a new level.
That’s because all cryptocurrency transactions take place on public ledgers. When you combine this with the transparency of where your congregants’ money is going, they have zero reasons not to trust the process. This single issue may not seem like a big deal, but once you take measures to improve trust, you’ll be surprised at how quickly you see results.
Start Offering Cryptocurrency for Donors Today
Even if you’re a leader in an old country church, staying at the forefront of technology is essential. This doesn’t mean you have to offer Wi-Fi in the sanctuary, but you should utilize the latest in giving technology. After all, there was probably some pushback when the first person suggested donating online rather than the offering plate. Today, it’s simply the norm.
If you’re ready to open a new revenue source by allowing contributions via cryptocurrency for donors, DonorWERX is here to help. BitDonate powers our CryptoDonations platform, and this means you can sign up to receive digital currency in just minutes. Visit our Get started page today to see how simple it is to increase donations with a new way of giving.
Email teaser: It’s not often that the ministry must consider accepting new forms of donations. After all, there were *thousands* of years between the introduction of cash tithes and online donations. Each of these trends is no doubt transformative, though, and crypto donations are now finding their way into the mix. Unfortunately, your congregants may not understand this new way of giving — or they may just not see the benefits in it. No need to worry! The resource we’ve attached will help you during these discussions.