FreeWill, a social-good enterprise at the nexus of philanthropy and estate planning, announced that its Crypto for Charity platform will eliminate transaction fees for real-time donations of cryptocurrency 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.
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Patrick Schmitt, co-CEO of FreeWill, said: “We’re incredibly excited to announce that we’ve become the first to zero among our competitive set as it pertains to transaction fees when donating crypto. One of our foremost commitments is listening to our customers and acting on feedback, and what we’ve heard from crypto owners is that donating crypto should be free. Having raised more than $6 billion in philanthropic gifts with free tools in estate planning and real-time giving, we’re proud to offer a non-fee platform for cryptocurrency. Now, donating crypto via our platform is more cost-effective than making a donation with a credit card. Democratizing access to estate planning and philanthropy are core to the FreeWill brand and we’re proud to continue to be leaders here mere months after jumping into the crypto space.”
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Crypto for Charity is an online platform developed by FreeWill, which empowers both donors and nonprofits to do the most good for the people and causes they love. In the same way FreeWill allows anyone to donate stocks in real-time or to leave a bequest to their favorite charity while creating a will, Crypto for Charity empowers donors to easily donate appreciated crypto, as well as NFT drop proceeds, in a tax-advantaged manner through easy-to-use 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 that are united around similar causes – all within a single transaction, and all zero-fee.
Crypto for Charity, through which crypto owners can donate to more than 55,000 American nonprofits, launched in December 2021 to help make it easier for nonprofits to accept crypto donations, given that more than 90% of nonprofits lacked a crypto solution at a time of increasing interest. Since the launch, high demand has led FreeWill to invest significantly in hosting hundreds of crypto donation sites for its nonprofit partners.
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