There is a record amount of interest in cryptocurrency philanthropy, with digital currencies now having a market cap exceeding $2 trillion. To help others, Build a school for UgandaFundraising Frontline workers in healthcareAwareness and promotion Artists with intellectual impairmentsMany nonprofits are seeing success with the generous support of crypto-philes.

But the rewards of giving crypto to charities aren’t limited to the feeling of having accomplished an altruistic task. The Internal Revenue Service considers crypto capital assets. This means that an investor may deduct the entire market value of cryptocurrency at the time it was donated against their normal income (i.e. salary) for a number of years and avoid capital gains tax.