Frequently Asked Questions
At Dare to Imagine Church, we uphold the highest standards of accountability, integrity, and transparency in our financial practices. As faithful stewards, we honor your gifts through ethical business conduct, ensuring our church remains above reproach and fosters trust among our congregation and community.
Cryptocurrency, also known as Virtual Currency or “Crypto,” is a digital asset originally designed to function as an alternative to sovereign fiat currency (US Dollars, for example) whereby transactions between two parties are verified through a public, distributed ledger, also known as a blockchain. Most people think of Bitcoin or Ether when they hear “Crypto.” While Bitcoin is the original cryptocurrency and most widely followed, many cryptocurrencies are currently available and the use cases are constantly expanding their borders.
Let’s break it down to make sure you understand.
Blockchain is the technology that allows transactions to be decentralized, secure, and trustless.
A cryptocurrency is a medium of exchange that two parties agree has a particular value.
Bitcoin is a particular cryptocurrency. You can think of it as a particular “brand” of a cryptocurrency.
God provides for us in a number of ways—including cryptocurrency! Since cryptocurrency has value, it provides one more way we can honor God through giving.
Yes―your cryptocurrency donation is tax-deductible. Because it’s a non-cash donation, it will not appear on your regular end-of-year giving statement. Instead, you will receive a separate letter acknowledging your gift(s) for tax purposes.
Our partner, Engiven, supports the donation of tokens listed on the Gemini exchange, including BTC, ETH, GUSD, XRP, ADA, AAVE, DAI, LINK, LTC, USDC, and more.
Because the value of cryptocurrency can change within a short period of time, we are unable to refund donations of cryptocurrency for any reason. Make sure your gift is correct before completing it!
We’re happy to answer any of your questions about cryptocurrency giving! Please contact us by email at info@d2ic.org or by phone at 267-702-0001.