Northern charities can now get donations of Bitcoin and other cryptocurrencies
While many charities have been able to accept donations of stocks, bonds and other investments, now more they are taking gifts of cryptocurrency.
The fundraising website, CanadaHelps, is the latest to let people donate amounts of the world's two most popular digital coins, Bitcoin and Ethereum, to any charity registered on its site.
The website's acting CEO, Jane Ricciardelli said the move came about to encourage more young people to give to their favourite charities.There is a giving gap in Canada, and the majority of donations are coming from older donors,"
"We also identified that 18 to 24-year-olds, 24 percent of them own cryptocurrency. So, we saw this as an opportunity to offer a donation option for those who are owners of crypto."
The website converts the digital currency directly to Canadian dollars, and transfers the money to the chosen charity. The site takes a two to three percent cut of crypto donations and also charges fees for other forms of donation.
Many charities in northeastern Ontario, including the Timmins and District Hospital Foundation, stand to benefit from the new service which launched Wednesday.
Executive director, Jason Laneville, said his foundation has been thinking about setting up a crypto donation service as well, seeing this as another option to make charitable giving more convenient for people.
"If somebody walked into the foundation today and wanted to donate cryptocurrency, we're not set up for that. But it's something that we have to look to for the future," said Laneville.
"I think CanadaHelps is doing a good job of being an early adopter of this form of donation."
The website is among a handful of Canadian agencies to accept crypto donations. Others include the Canadian Red Cross, Pathways to Education, and Action Against Hunger Canada.
CTVNews.ca Top Stories
'Still so much love between us,' Sophie Gregoire Trudeau says of Prime Minister Justin Trudeau
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
What to know about avian influenza in dairy cows and the risk to humans
Why is H5N1, or bird flu, a concern, how does it spread, and is there a vaccine? Here are the answers to some frequently asked questions about avian influenza.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
opinion The special relationship between King Charles and the Princess of Wales
Royal commentator Afua Hagan writes that when King Charles recently admitted Catherine to the Order of the Companions of Honour, it not only made history, but it reinforced the strong bond between the King and his beloved daughter-in-law.
Pro-plastic lobbyist presence at UN talks is 'troubling,' say advocates
Environmentalist groups are sounding the alarm about a steep increase in the number of pro-plastic lobbyists at the UN pollution talks taking place this week.
'Too young to have breast cancer': Rates among young Canadian women rising
Breast cancer rates are rising in Canada among women in their 20s, 30s and 40s, according to research by the University of Ottawa (uOttawa).
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
$70M Lotto Max winners kept prize a secret from family for 2 months
During a special winner celebration near their hometown, Doug and Enid shared the story of how they discovered they were holding a Lotto Max ticket worth $70 million and how they kept this huge secret for so long.
Courteney Cox says her partner Johnny McDaid once broke up with her in therapy
Courteney Cox's longtime partner Johnny McDaid once broke up with her in a therapy session.