Cryptocurrency Donations
Please read all the instructions before doing anything!!
Here’s how it works:
We can receive 5 cryptocurrencies. Bitcoin, Ethereum, Solana, Chainlink, and Litecoin. Addresses for each are listed.
Please make sure that you are sending your crypto to the correct address, otherwise it will be lost forever!
The value of your crypto donation is determined by the market value when it lands in our wallet.
Step 1: Purchase crypto from your favorite exchange (Coinbase, Kracken, Uphold, etc). Or you can use crypto that you already own, and have stored on a wallet.
Step 2: Copy the correct link provided in the Crypto Addresses Section for the crypto you want to donate.
Step 3: From your exchange or wallet, paste the address into ‘Send’. Then send it!
You will receive a transaction notice that it has sent. That notice should include a transaction hash, a date and time, and the amount of crypto you’ve sent. You will need all that info to confirm your identity and donation to the ministry office.
Step 4: When crypto is moved from one wallet to another, it is never associated with a name, only with the amount and the transaction hash. So-
If you want a tax deductable receipt for your donation, then you must contact our office (office@biblicallife.org) with the transactions details, and that will prove you are the donor. Then our office will email you a receipt for that donation at the market value when it lands on our wallet. If it takes 2-3 hours to work through the network, the market value will change, because this is crypto after all.
If you do not care about or want a tax deduction, then you are done! Experience a warm feeling knowing that you have sown hugely into the future of the ministry!
Okay, here’s an example, let’s say you want to donate 1 Bitcoin. First, there will probably be a network fee to move that coin. So, you must consider that. If you want to ministry to receive that 1 full Bitcoin, then you will need to cover that fee. Our wallet does not charge us a fee when crypto lands on our side, but it will when we move it to an exchange. So, everybody has to deal with exchange fees. If you buy, or have bought crypto using dollar cost averaging, and you have your taxes set up as ‘first in, first out’, then you will probably get quite a large donation value for that 1 Bitcoin.
Or you may consider that you have $100 to donate. You buy $100 of Chainlink, for example, on an exchange, and send that to the ministry. Because of exchange fees on that purchase, and sending fees, and possible market fluctuation, your $100 purchase will probably be a $95 donation receipt. But the long term value of that donation is huge.
Why cryptocurrency?
1. It can produce tremendous value for both the ministry and the donor.
2. It can be held as a store of value, in other words, as a legacy gift.
3. It can be used to transfer funds quickly, to make cross border payments,
The Crypto Addresses!
Make sure you copy the correct address of the crypto you want to send, otherwise it will be lost forever! At the present time, we are able to receive these five cryptocurrencies.
Bitcoin: bc1qf3z3796u4ywqv9nyyhn8zyf38w9fnq2cvxsvy7
Ethereum: 0x04e143e65A9Bd9c2B2b93e6E35E41105dA854f2C
Solana: G2ed3CnCyRn3h22zTS3S3ZjX371BeSSUUJu8NgZKGVX7
Chainlink: 0x883a2eD92dC6D2EDeB9e8E09C490D729e12438C5
Litecoin: ltc1q5mmc4fg56lapgl3fjduarfts222dxf8t8djedg
Our plans to manage crypto donations
Of course, every ministry has monthly cash needs that must get priority, but our intention is to save crypto as a store of money for the future, something like a legacy gift. If it is possible, we want to save all Bitcoin and Ethereum donations. Solana, Chainlink, and Litecoin, we feel, can be used as needed. Our intention for exchanging crypto into fiat currency is to sell at a market value higher than when it was donated.
We do not trade futures, or day trade with any ministry finances ever. We will either hold it long term, or sell it for cash as needed.
Thank you for investing with us! We love being good stewards of God’s provision!