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Crypto donations rose nearly 16x in 2021, says new report

2021 was not only the year of crypto institutionalization and new all-time highs; it also turned out to be the biggest year for crypto philanthropy. According to research data from The Giving platform, crypto donation volume increased to $69.6 million in 2021, compared to $4.2 million in 2020. Crypto donation volume increased by 1.558% or nearly 16x over the same period. Average crypto donations also increased 236%, from an average of $3,109 in 2020 to $10,445 in 2021. The data further showed that the average crypto donation was 82x greater than an average cash donation. The average donation in crypto was estimated at $10,455 compared to $128 in cash. The monthly donation data revealed several interesting aspects about crypto donors. The report highlighted that crypto donations were highest in the last four months of 2021. Donation volume also peaked with each month, where January saw a total volume of $300,000, while December’s total donation volume exceeded $20,000,000. 42% of total crypto donations in 2021 took place in the last two months.Crypto donation rate in each month of 2021Source: The Giving BlockThe research attributed this increase to the rising market and growing adoption of digital assets among the general public as non-profit organizations. The research report found that by the end of 2021, more than 1,000 non-profit organizations were accepting crypto donations. Related: Progressive Group Uses Bitcoin as ING and PayPal Block Donations Crypto donation volume increased every quarter in 2021, where the first quarter had a total volume of $1.69 million and that value grew to $43.1 million in the fourth quarter. A total of 70 cryptocurrencies were used for donations, with Ether being the top choice for donations, followed by Bitcoin (BTC) and USDC stablecoin. 85% of all crypto donations in 2021 were made in BTC, Ether (ETH) and cryptocurrency donation volumeSource: The Giving BlockThe cryptodonation data reflects the growing popularity of digital currency use among activists, politicians and even shadow governments. In 2021 saw Bitcoin at the protest in Hong Kong. Myanmar’s shadow government fighting the current military regime has also declared Tether’s USDT as their official local currency. Blockchain makes crypto assets limitless, making it a top choice for donations.
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