Link to Original Press Release Here
Copy of the Press Release from Unchained (9/12/24)
At Unchained, we believe in the transformative power of bitcoin—not only as a tool to secure personal wealth but also as a vehicle for creating meaningful, positive change in the world. That’s why we’re thrilled to announce the launch of Bitcoin Donor-Advised Funds (DAFs), sponsored by University Impact and powered by Unchained Connections. This new offering allows you to support the causes you care about while leveraging the unparalleled security and transparency of a bitcoin-native product.
What is a Donor-Advised Fund (DAF)?
A DAF is a flexible, tax-efficient charitable giving vehicle that allows you to make a contribution, receive an immediate tax deduction, and recommend grants to charitable organizations over time. DAFs act as a strategic holding place for your assets, giving you time to plan your giving while potentially benefiting from asset appreciation. With the Unchained DAF, you can contribute bitcoin, watch its value grow tax-free within the fund, and distribute donations at your discretion. You can read more about DAFs in this Bitcoin Magazine article.
Why Choose Bitcoin Donor-Advised Funds?
Our bitcoin DAFs on the Unchained platform are built for those who believe in bitcoin’s potential to shape the future. Unlike traditional DAFs that convert bitcoin to US dollars, our solution allows you to contribute, store, and donate bitcoin directly. This means no unnecessary conversions, no loss to exchange fees, and the freedom to send bitcoin donations straight to the nonprofits you support.
Here’s what makes bitcoin DAFs powered by Unchained a game-changer:
Key Benefits of Bitcoin DAFs:
Simplify Bitcoin for the Causes You Support
With Unchained, you can donate bitcoin directly or convert it to US dollars for charities not yet equipped to handle bitcoin. This allows you to hold bitcoin on their behalf, ensuring more of your donation reaches the intended cause without exchange fees. Plus, you can grow your bitcoin tax-free within the fund, maximizing the impact of your donation.Unmatched Security and Transparency
Powered by Unchained’s multisig vault technology, your bitcoin is held securely in a collaborative custody arrangement. When you contribute to a bitcoin DAF, the assets remain on-chain, in a 2-of-3 multisignature vault, giving you full transparency and verifiable proof of funds at any time. No other DAF offers this level of security for your charitable bitcoin.Tax Benefits
When you donate bitcoin to a DAF, you receive a tax deduction based on the fair market value of your bitcoin at the time of donation. Plus, since you won’t have to pay capital gains tax on appreciated bitcoin, your donation could be significantly more valuable if the asset appreciates.
Fix the Money, Fix the World
Bitcoin donor-advised funds powered by Unchained are more than just a method of giving—they represent a new way of thinking about wealth, philanthropy, and financial freedom. By leveraging the unique properties of bitcoin, you can support open-source contributors, academic institutions, and charitable organizations that are making a real impact in the world.
What industry leaders are saying:
“Unchained’s DAFs are an incredible option for people looking to do good and have that amplified by the superior monetary properties of bitcoin. The Human Rights Foundation is thrilled to be an avenue for those eager to support bitcoin and freedom globally.”
— Christian Keroles, Director of Financial Freedom, HRF
“Save the Children believes every child deserves human rights since our founding more than 100 years ago. As the world’s first international NGO to accept a bitcoin donation in 2013, innovation is part of our theory of change, and we are excited about the potential of a bitcoin DAF.”
— Ettore Rosetti, Head Advisor, Save The Children
“It’s great to see a Bitcoin-native DAF option available for donors. The privacy benefits, transparency, paperwork simplification, and tax benefits, all while hodling BTC in a multisig, is pretty slick.”
— Mike Schmidt, Executive Director, Brink
Get Started Today
Ready to amplify the impact of your charitable bitcoin giving? Start your bitcoin DAF today by creating an account on our platform. Have questions? Our experts are ready to guide you through every step of the process, helping you make the most of your philanthropic efforts.
Unchained does not provide tax or legal advice. This information is for educational purposes only and is not intended to be relied upon as tax advice. For personalized guidance, please consult with an attorney, CPA, or tax advisor.
