Yes, you can indeed donate and invest in cryptocurrency through Daffy. As one of the first donor-advised funds to offer investment in pure crypto portfolios, Daffy is a game-changer in the world of charitable giving. By partnering with custodians like Coinbase, Daffy supports any token that Coinbase does, making it a versatile and flexible option for those looking to donate and invest in crypto.
One of the key benefits of using Daffy is the tax advantage. When you contribute cash, stock, or crypto to your fund, you're able to take an immediate tax deduction for those contributions. This means that by donating crypto, you save money on taxes and the charity receives a larger donation. It’s a true win-win.
Once you contribute your crypto to Daffy, it is liquidated and invested into your choice of one of nine modern portfolios, including three crypto portfolio options. This means as much of your contributions as possible are invested in crypto and held safely with Coinbase Institutional.
Moreover, Daffy has recently expanded its crypto donation options. You can now donate 126 different crypto tokens to charity. This means you can share your gains from a wide variety of cryptocurrencies with over 1.5 million qualified charities across the country.
So, if you're looking to make the most of your cryptocurrency and make a difference at the same time, Daffy is a fantastic option. Don't miss the opportunity to maximize your 2021 tax deductions and increase your generosity to charities. Start your crypto wallet transfer today and make giving a habit with Daffy.
Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.