Donate Cryptocurrency

Q: Is the exchange of cryptocurrency legal, regulated and safe?

Yes; there is currently no legal restrictions on merchants accepting cryptocurrencies in the UK. HMRC have issued guidance on the handling of cryptocurrency donations, which Cornerstone complies with comply with. The guidance can be viewed here: Tax on cryptoassets – GOV.UK (www.gov.uk) . Cryptocurrencies work using blockchain security. A blockchain relies on networks of thousands of computers to verify transactions, making it close to impossible to tamper with the ledger. Cornerstone has custody and liquidity provided by Gemini, a licensed trust company that is regulated by the New York State Department of Financial Services (NYSDFS), and industry and world leader in cryptocurrency security and regulatory compliance. Cornerstone complies with the FRS 102 accounting policy which ensures our cryptocurrency donations are accounted for and measured accurately.

Q: Why is Cornerstone accepting cryptocurrency? What are the benefits of donating cryptocurrency?

Cornerstone supports people with a range of support needs from a couple of hours to maintain independence and make friends to 24-hour residential care. We are passionate about inclusion, and take a pioneering approach to our delivery of care, and this pioneering and accessible approach extends to our relationships with our donors. There are now over 1,000,000 users of cryptocurrencies worldwide and we believe that accepting cryptocurrency donations will enable us to reach a wider range of supporters, which will ultimately increase our income and allow us to continue our essential work.

Q: How do I donate cryptocurrency?

We use the platform ‘The Giving Block’ to accept cryptocurrency donations. All donations can be made through the widget above. First, select which type of cryptocurrency you wish to donate and enter your donation amount. Next, fill out some basic information about yourself and enter an email address where you would like to receive a text receipt. Lastly, a wallet address will be generated for your donation which is linked directly to our wallet. You can donate anonymously but we still need to ask for an email for your receipt to be sent to.

Q: What is cryptocurrency?

A cryptocurrency is a digital or virtual currency that can be used online.

Cornerstone is committed to being as inclusive as possible, including for our donors. That's why you can now donate cryptocurrency to Cornerstone and help us to ensure that people living with learning disabilities, autism and complex needs live their best possible lives, with their choices and voices at its heart.

Donating cryptocurrency is a non-taxable event, meaning you do not owe capital gains tax on the appreciated amount and can deduct it on your taxes. This makes cryptocurrency donations one of the most tax-efficient ways to support your favourite cause. When you make a donation Cornerstone immediately transfer that donation into GDP so that we can spend it where it is needed most.

How your donations can transform lives

Please note: All cryptocurrency donations made to Cornerstone are currently non-refundable. Please only send currencies listed on the widget, do not send unsupported currencies (including unsupported ERC-20s, ERC-721s and BEP20s) as these may be lost.

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