Miami-based Nicklaus Children's Hospital Foundation announced Oct. 5 it will be accepting cryptocurrency donations, making it among the first nonprofits and the first healthcare foundation in South Florida to do so.
The foundation is partnering with The Giving Block, an organization that works with nonprofits on cryptocurrency fundraising.
Accepting cryptocurrencies allows donors to support the foundation in a tax-efficient way. Cryptocurrency donations are tax deductible and receive no capital gains tax, according to a news release.
"We are so excited to begin accepting cryptocurrencies as a donation method to benefit the children and families we serve every day," said Michelle Boggs, president of Nicklaus Children's Hospital Foundation. "We hope that by adding this method of giving, we will reach more people who want to support the life-saving work of our hospital, and do so in a fast, easy, secure transaction."