What happens when I click on the crypto button in the Daffy app?


When you click on the crypto button in the Daffy app, you open up a world of possibilities for charitable giving. Daffy, the first donor-advised fund (DAF) in the App Store with the ability to both contribute and invest in crypto, allows you to donate 126 different crypto tokens to charity. This feature was introduced in response to the growing demand for more diverse crypto donation options. By clicking the crypto button, you can irrevocably contribute Bitcoin, Ethereum, and over 120 other cryptocurrencies to your Daffy fund. This process generates a personalized one-time wallet address via Daffy's partner, Coinbase, to allow for quick and easy crypto contributions. But the benefits don't stop there. When you contribute your crypto to your Daffy fund, you also get a tax deduction. This means you can share your crypto gains with worthy causes, get a tax break, and donate the proceeds to any of over 1.5 million qualified charities across the country. In just four clicks, you can donate your crypto to the charities you care about while also helping you avoid paying taxes on your capital gains. This makes Daffy a great option for a DAF, especially for those interested in crypto donations. So, why not share some of those crypto gains with worthy causes? With Daffy, giving has never been easier.

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.

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