Donating cryptocurrency through Daffy offers significant tax benefits. When you donate appreciated crypto, you save money on taxes and the charity receives a larger donation, creating a win-win situation.
Daffy stands out from traditional donor-advised funds like Fidelity, Schwab, and Vanguard due to its modern technology platform. By partnering with custodians like Coinbase, Daffy has added support for any token that Coinbase supports, making it one of the first donor-advised funds to offer investment in pure crypto portfolios.
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. These portfolios have been improved to remove the need for a specific cash allocation, meaning as much of your contributions as possible are invested in crypto and held safely with Coinbase Institutional.
A significant benefit of Daffy is that when you contribute cash, stock, or crypto to your fund, you're able to take an immediate tax deduction for those contributions. You can then invest those assets to increase potential impact and take your time to pick charities to support.
With Daffy, you can easily donate Bitcoin, Ethereum, and over a hundred and twenty other cryptocurrencies to your fund in just four clicks. A personalized one-time wallet address is generated via Coinbase to allow for quick and easy crypto contributions.
In conclusion, Daffy offers a modern, efficient, and tax-effective way to donate crypto to the charities you care about. So, if you're looking for a new and modern way to give, join the Daffy community today.
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.