Cryptocurrency (or crypto) is often described as the “money of the future”. For most of us though, it’s better known as that mysterious thing your cousin won’t stop talking about at family dinners. Yet, behind the hype, crypto is quietly reshaping how charities, and increasingly, arts organisations, fundraise.
What Is Crypto, Really?
At its simplest, cryptocurrency is digital money. Instead of being printed or minted (the process of creating coins at a mint, like the Royal Mint), it exists only online and runs on something called blockchain, which is a giant public ledger that records transactions. Bitcoin (BTC) and Ethereum (ETH) are some of the best-known examples. As of 2023 there were 20,000 cryptos, however many of those are no longer traded.
Imagine a donation jar that anyone can check at any time, but no one can tamper with. That’s how blockchain works. It’s transparent, secure and borderless, which is one of the reasons why charities are starting to experiment with it.
How It Works
Of course, no organisation wants to be left holding a virtual coin purse if the market takes a nosedive. To avoid that, most UK charities use platforms like The Giving Block, which currently has 67 UK based causesregistered to receive donations, or Zodia Custody, a regulated, digital asset custodian which is particularly suited to handling large or high-trust crypto donations. These handle the technical side, quickly converting crypto into pounds. Donors can pick from dozens of cryptocurrencies, make their gift and even receive a tax receipt.
For the donor, it feels futuristic. For the charity, it feels refreshingly ordinary – the money arrives as cash, ready to use.
Who’s Using Crypto?
In November 2024, JustGiving became the first UK fundraising platform to support crypto donations, opening the door for any registered charity to take contributions in over 60 digital currencies. That’s a big shift – it turns crypto from niche novelty into a mainstream option for income diversification .
British Red Cross has taken advantage of this option and has received £143,000 in crypto donations as part of a campaign to reach a £200,000 target by the end of 2025. Similarly, CHUF received a crypto donation of £38,000 in 2020, believed to be the largest single cryptocurrency donation to a UK charity.
The Turing Trust, founded by Alan Turing’s family, has been ahead of the curve, accepting Bitcoin and Ethereum since 2016 as a way to welcome new donors while honouring Turing’s technological legacy. Meanwhile, the Whitworth Art Gallery tried something very different with digital art. Working with Vastari Labs, they created and sold what are called NFTs (short for non-fungible tokens). To put it simply, NFTs are digital certificates of ownership, which live on the Blockchain. So, even though an image can be copied online, the NFT proves who officially owns the original version. In this case, the Whitworth Art Gallery used William Blake’s Ancient of Days as the basis for these tokens. When supporters bought them, the money went straight into a Whitworth community fund to back social art projects. The experiment wasn’t just about raising money, but about testing whether this new kind of digital ownership could open up fresh ways to support culture.
In the United States, arts organisations have taken an even bolder lead. On The Giving Block platform alone, 118 arts and culture organisations now accept crypto. Names on that list include the Smithsonian Institute, the Los Angeles County Museum of Art and the Golden State Ballet Foundation. A stand-out story comes from Free Arts NYC, an organisation that mentors creative young people from underserved backgrounds. During a high-profile campaign in 2023 named Crypto Giving Tuesday, it received a single 16 ETH donation, worth around £20,000 at the time. The gift not only provided real financial support but also signalled that the web3 community is invested in nurturing the next generation of young creatives.
Beyond charities and museums, crypto has been shaking up the commercial art world too. In 2018, London gallerist Eleesa Dadiani famously tokenised 49% of an Andy Warhol artwork, allowing buyers to purchase fractional shares. The move hints at a radical future: what if supporters of cultural organisations could “own” a piece of heritage in the same way?
Why Bother With Crypto? The Pros and Cons
For advocates, the benefits of crypto fundraising are clear. It opens the door to a younger, tech-savvy donor base that might not otherwise engage with traditional philanthropy. Because crypto donations are generally exempt from Capital Gains Tax, they can also offer tax advantages for donors. Research from The Giving Block shows that crypto donations of more than $1billion (£750,000) were made to charitable causes in 2024 alone, and analysts believe that around $2.5billion (£1.8billion) will be donated in crypto in 2025.
But the challenges are equally real. Cryptocurrency remains volatile, with values that can swing dramatically in short periods of time. Public perception of crypto is mixed, with some still associating it with speculation, environmental concerns and risk.
Charities must also navigate a growing web of regulation. In 2023, the Charity Commission issued guidance on the use of cryptocurrency, noting its potential but also warning trustees to assess risks carefully, implement appropriate controls and ensure proper accounting. Security is paramount, utilising reputable platforms and custodians is essential to protect both the charity and the donor.
How Arts Organisations Can Get Started
For those tempted to explore crypto, the good news is that entry points are quite straightforward. Most organisations begin by working with platforms such as JustGiving, The Giving Block or Zodia Custody, which provide the technical support and ensure that crypto gifts are converted quickly and safely into standard currency. This plug-and-play approach means there’s no need to build a complex crypto system in-house.
The next step is donor education, offering clear, accessible explanations on your website or in fundraising campaigns can demystify the process for potential supporters. Many charities start small, simply including a ‘Donate Crypto’ button alongside traditional methods to test appetite and ease, examples of this include ELHAP, Sands, Boxwise Foundation, Make A Wish and Farplace Animal Rescue. For the more adventurous, there is scope to think creatively, whether by experimenting with NFTs, exploring fictional ownership models or running themed campaigns that appeal to younger digital-native audiences.
The Bottom Line
Cryptocurrency isn’t about replacing traditional fundraising; it’s about adding another string to the bow. Whether through headline-grabbing NFT experiments or quiet one-off donations, crypto has shown it can generate both funds and visibility.
For arts, culture and heritage organisations that pride themselves on creativity, experimenting with crypto could be less about chasing the latest trend and more about future proofing fundraising itself.
After all, if the arts don’t embrace new forms of expression, even in fundraising – who will?
About the author...
Bryony Salmon
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