FreeWill’s Crypto for Charity platform announces zero fees for all cryptocurrency donations
NEW YORK, 24 August 2022 /PRNewswire/ — FreeWill, a philanthropy and estate planning social good enterprise, announced today that its Crypto for Charity platform will eliminate transaction fees for real-time cryptocurrency donations to support nonprofit causes, lowering fees on donations made through Crypto for Charity’s website, www.cryptoforcharity.io from 3.95% to zero, effective immediately.
Patrick Schmittco-CEO of FreeWill, said: “We are incredibly excited to announce that we have become the first among our competitive set to zero in terms of transaction fees when donating crypto. One of our foremost commitments is to listen to our customers. and is responding to feedback and what we’ve heard from crypto owners is that donating crypto should be free After raising more than 6 billion dollars in philanthropic giving with free tools in estate planning and real-time giving, we are proud to offer a no-fee cryptocurrency platform. Now it is more cost-effective to donate crypto via our platform than to make a donation with a credit card. Democratizing access to estate planning and philanthropy is at the core of the FreeWill brand, and we’re proud to continue to be leaders here just months after jumping into the crypto space.”
Crypto for Charity is an online platform developed by FreeWill, empowering both donors and nonprofits to do the best for the people and causes they love. In the same way that FreeWill allows anyone to donate shares in real time or leave a bequest to their favorite charity while creating a will, Crypto for Charity allows donors to easily donate appreciated crypto, as well as NFT slip proceeds, in a tax-advantaged way through user-friendly tools.
This includes the ability to integrate donations directly from smart contracts for NFT drops, as well as Cause Funds that enable donors to give to multiple organizations at once united around similar causes – all within a single transaction, and all zero- fees.
Crypto for Charity, where crypto owners can donate to more than 55,000 US nonprofits, launched in December 2021 to make it easier for nonprofits to accept crypto donations, given that more than 90% of nonprofits lacked a crypto solution at a time of growing interest. Since its launch, high demand has led FreeWill to invest significantly in hosting hundreds of crypto donation sites for its non-profit partners.
In addition to the Crypto for charity platform, FreeWill also offers nonprofits a bequest tool for inheritance, a Qualified Charitable Distributions (QCD) tool for real-time fundraising from IRAs, and a stock gift tool for appreciated stock holdings.
About FreeWill
Free will is a social good enterprise that offers online tools that empower Americans to meet common estate planning needs and make charitable donations in tax-deductible ways, completely free of charge. FreeWill also has a charitable giving platform that makes it easier for nonprofit fundraising teams to unlock transformative non-cash gifts. Through its partnerships with 1,000+ nonprofit organizations that understand that large gifts are often part of estate plans, the company is also able to offer a comprehensive suite of estate planning and related tools to consumers at no cost. To date, FreeWill has generated more than $6 billion in planned and real-time giving to more than 10,000 nonprofits while helping more than 600,000 consumers create wills and plan their estates.
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For FreeWill:
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