When it comes to making a crypto contribution, Daffy is a fantastic option for a Donor Advised Fund (DAF). The process is simple and efficient, allowing you to donate Bitcoin, Ethereum, and over a hundred and twenty other cryptocurrencies to your Daffy fund.
The time it takes for your crypto contribution to be processed and show up in your portfolio is typically 4-5 days from scheduling your contribution. This is dependent on standard processing times, but Daffy always strives to provide an estimate of when your transactions will be completed.
To make a crypto contribution, you simply go to your Daffy account and select 'add funds'. Then, select 'crypto' and choose the coin you'll be using to make a contribution. A personalized one-time wallet address will be generated via Daffy's partner, Coinbase, to allow for quick and easy crypto contributions.
Not only does Daffy make it easy to donate crypto, but it also helps you avoid paying taxes on your capital gains. This is because Bitcoin and Ethereum are considered property for tax purposes, and the tax rates are the same as for other investments like stock.
Daffy is committed to helping people be more generous, more often. With Daffy, you can easily donate to almost every US public charity, track tax-deductible contributions, and access donation receipts all in one place. Plus, Daffy waives all membership fees for members with less than $100 in their fund.
So, if you're looking for a modern and efficient way to give, consider Daffy as your go-to DAF. Please note that the information provided here is for educational purposes only and should not be considered tax advice. Always consult with a tax professional to assess your specific tax situation.
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.