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
Why these immigrants to Canada say they're thinking about leaving, or have already moved on
For some immigrants, their dreams of permanently settling in Canada have taken an unexpected twist.
DEVELOPING Live updates from the Trump hush money trial: Stormy Daniels, bookkeeper testify
Adult film star Stormy Daniels is on the stand a second time Thursday as former U.S. president Donald Trump’s hush money case continues in Manhattan. Follow live updates here.
Ontario family receives massive hospital bill as part of LTC law, refuses to pay
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
Here are the ultraprocessed foods you most need to avoid, according to a 30-year study
Studies have shown that ultraprocessed foods can have a detrimental impact on health. But 30 years of research show they don’t all have the same impact.
Ontario man frustrated after $3,500 paving job leaves driveway in shambles
An Ontario man considering having his driveway paved received a quote from a company for $7,000, but then, another paver in the neighbourhood knocked on his door and offered half that rate.
BREAKING Sheldon Keefe out as head coach of Toronto Maple Leafs
The Toronto Maple Leafs have fired head coach Sheldon Keefe. The team made the announcement Thursday after the Original Six franchise lost to the Boston Bruins in seven games in the first round of the Stanley Cup playoffs.
Boeing 737 catches fire and skids off the runway at a Senegal airport, injuring 10 people
A Boeing 737-300 plane carrying 85 people skidded off a runway at the airport in Dakar, Senegal's capital, injuring 10 people, according to the transport minister, an airline safety group and footage from a passenger that showed the aircraft on fire.
Breast cancer screening should start at age 40, Canadian Cancer Society says
The Canadian Cancer Society says all provinces and territories should lower the starting age for breast cancer screening to 40.
Man accused of killing two children at Quebec daycare to stand trial in April 2025
The man accused of murdering two children and injuring six others after a city bus crashed into a Montreal-area daycare is scheduled to stand trial over five weeks beginning in April 2025.