Pay with Crypto Currencies (bitcoin, ethereum, etc)

Discussions about the Online Donation system.
cris77
New Member
Posts: 1
Joined: Mon May 29, 2017 11:20 am

Pay with Crypto Currencies (bitcoin, ethereum, etc)

Postby cris77 » Wed Aug 23, 2017 3:36 am

According to the IRS cryptocurrency are consider assets and you should pay capital gain on appreciated assets.
I know that the church accept some donation in kind ( https://tech.lds.org/wiki/Donations_in_kind ).

Giving appreciated assets is a great way to get a tax break in the US.
This works well if you are in a high tax bracket, and even more if you are in a high state tax state.
It can "cost" little to gift money this way--for example only 20% of the total donation.

I was wondering when we could have a way to donate in Bitcoin or Ethereum.

User avatar
sbradshaw
Senior Member
Posts: 4471
Joined: Mon Sep 26, 2011 8:42 pm
Location: Provo, UT
Contact:

Re: Pay with Crypto Currencies (bitcoin, ethereum, etc)

Postby sbradshaw » Wed Aug 23, 2017 9:02 am

The Church does accept donations via Bitcoin. I'm not sure about Ethereum. If you send an email to donations@ldschurch.org they can help you with the process.
Samuel Bradshaw • If you desire to serve God, you are called to the work.

cris77
New Member
Posts: 1
Joined: Mon May 29, 2017 11:20 am

Re: Pay with Crypto Currencies (bitcoin, ethereum, etc)

Postby cris77 » Wed Aug 23, 2017 1:06 pm

Good to know that they accept Bitcoins. I did not see any official communication about it.
Ethereum is another big player in the cryptocurrency space I hope they will be able to accept them too.

jdye06
New Member
Posts: 1
Joined: Thu Jan 05, 2017 9:56 pm

Re: Pay with Crypto Currencies (bitcoin, ethereum, etc)

Postby jdye06 » Mon Dec 18, 2017 6:23 pm

Was curious if anyone got any more information on this or not? I reached out to donations but have not heard back yet. Hoping to get all the necessary info and donated before year end.

User avatar
sbradshaw
Senior Member
Posts: 4471
Joined: Mon Sep 26, 2011 8:42 pm
Location: Provo, UT
Contact:

Re: Pay with Crypto Currencies (bitcoin, ethereum, etc)

Postby sbradshaw » Mon Dec 18, 2017 7:42 pm

Another email address you might try is LDS Philanthropies: ldsphilanthropies@ldschurch.org.
Samuel Bradshaw • If you desire to serve God, you are called to the work.

jdye06
New Member
Posts: 1
Joined: Thu Jan 05, 2017 9:56 pm

Re: Pay with Crypto Currencies (bitcoin, ethereum, etc)

Postby jdye06 » Tue Dec 19, 2017 8:28 pm

Received an email back from donations@ldschurch.org:

Currently, bitcoin or Ethereum are not approved methods for making donations to the church so we are unable to accept it.

We appreciate your efforts in reaching out to us.

Thank You,
LDS Donations
US Headquarters

I will try ldsphilanthropies@ldschurch.org as well just in case. SBradshaw- did you actually go through the process or have an email stating they accept bitcoin in the past?

User avatar
sbradshaw
Senior Member
Posts: 4471
Joined: Mon Sep 26, 2011 8:42 pm
Location: Provo, UT
Contact:

Re: Pay with Crypto Currencies (bitcoin, ethereum, etc)

Postby sbradshaw » Wed Dec 20, 2017 7:18 am

jdye06 wrote:SBradshaw- did you actually go through the process or have an email stating they accept bitcoin in the past?

About a year ago I was talking to someone who had gone through the process and was donating with Bitcoin (if I understood them correctly).
Samuel Bradshaw • If you desire to serve God, you are called to the work.

jimmex50
New Member
Posts: 1
Joined: Thu May 31, 2018 2:33 pm

Re: Pay with Crypto Currencies (bitcoin, ethereum, etc)

Postby jimmex50 » Thu May 31, 2018 2:35 pm

Another option is to use a Donor advised fund as a go-between. I know the one offered by Fidelity accepts Bitcoin

User avatar
johnshaw
Senior Member
Posts: 2120
Joined: Fri Jan 19, 2007 1:55 pm
Location: Syracuse, UT

Re: Pay with Crypto Currencies (bitcoin, ethereum, etc)

Postby johnshaw » Thu May 31, 2018 4:55 pm

Or Speak to a financial advisor rather than some random non-experts on a message board
“A long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defense of custom.”
― Thomas Paine, Common Sense

pheonix32191
New Member
Posts: 1
Joined: Thu Mar 07, 2019 6:59 am

Re: Pay with Crypto Currencies (bitcoin, ethereum, etc)

Postby pheonix32191 » Thu Mar 07, 2019 7:10 am

As the new internet money technology, Bitcoin, and other cryptocurrencies, have been gaining adoption around the world, I feel it extremely important that the church at least learn somewhat how this technology works and perhaps acknowledge what they think about it to interested saints with any guidance or cautions. I feel this dirupting technology will change the financial world and fiat currencies in bigger ways than the internet did with information transfer.
Just a thought.
If they have already given information on the above please let me know.
Thanks.
-Spencer J. Gibson


Return to “Online Donations”

Who is online

Users browsing this forum: No registered users and 1 guest