Fidelity Charitable Enables Bitcoin Donations Through Coinbase Partnership

Fidelity Charitable, the charitable-savings arm of Fidelity Investments, now supports Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term from donors thanks to a partnership with Coinbase.

The organization ranks as the second largest fundraiser among US nonprofits after United Way, according to the Chronicle of Philanthropy.

It was founded in 1991 by the chairman of Fidelity Investments, and has since grown to support over 210,000 charities with over $20 billion in grants, working with over 100,000 donors.

The majority of donations are in the form of capital assets such as public or private securities and real estate. Conventionally, the transfer of such assets for donations can be complicated and time consuming, hence one of the roles of Fidelity Charitable.

The donation process typically involves four parties: the donor, Fidelity Charitable, the end-recipient charity and the end recipient. Donors contribute a minimum of $5,000 to a charitable investment account, or 'Giving Account', in which it is managed and processed for a fee. It is then distributed to the end-recipient charities of the donor's choice, planned according to the donor's tax objectives.

Matt Nash, senior vice president of donor engagement for Fidelity Charitable, said the addition of a bitcoin option is another way of "making it as easy as possible for donors to support the charities they care about with the assets at their disposal," adding, "there are many tax advantages to donating long-term appreciated assets, and that ultimately means more money to charity."