What is the role of Coinbase in contributing crypto to Daffy?


Coinbase plays a crucial role in Daffy's mission to modernize and democratize philanthropy. As a leading cryptocurrency exchange, Coinbase enables Daffy to accept Bitcoin, Ethereum, and over 120 other cryptocurrencies as donations. This partnership has allowed Daffy to become one of the first donor-advised funds (DAFs) to offer investment in pure crypto portfolios, a feature that has proven to be incredibly popular among our members. When 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 contributions are held safely with Coinbase Institutional, ensuring the security of your donation. Daffy's partnership with Coinbase also allows for quick and easy crypto contributions. Simply click on the crypto button while making a one-time contribution in the app, and a personalized one-time wallet address will be generated via Coinbase. But the benefits of contributing crypto to Daffy extend beyond ease and security. When you donate crypto, you can take an immediate tax deduction for those contributions, invest those assets to increase potential impact, and have time to pick charities to support. This makes Daffy a great option for a DAF, especially for those interested in leveraging the power of cryptocurrency for philanthropy. As we approach the end of the year, now is a great time to contribute cash, stock, or crypto to your Daffy fund. Not only will you maximize your 2021 tax deductions, but you'll also increase your generosity to charities. So, don't miss this opportunity - initiate your crypto wallet transfer ASAP to ensure it is cleared by the specified blockchain by December 31st. Join the Daffy community today and make giving a habit. Together, we can leverage the power of cryptocurrency to make a positive impact in the world.

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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