As nonprofits navigate an increasingly challenging charitable environment, many are exploring crypto philanthropy as a new way forward. Web3 offers powerful tools to reach supporters, boost transparency, and unlock new funding streams. Here are key do’s and don’ts to help your organization engage safely and effectively.
Platforms like Endaoment, The Giving Block, or Giveth provide simple onboarding and custody solutions.
Using personal, unvetted, or hot wallets risks security, transparency, and donor trust.
Establish policies for custody, conversion, security, risk management, and decision-making.
Winging it can lead to confusion, mistakes, and unnecessary risks that could lead to loss of funds.
Your staff is your first line of defense, and it’s important they are aware of safety best practices in Web3.
Never share your private key with anyone. Be cautious; one misstep or wrong link can lead to asset loss.
Crypto donors want transparency, communication, and mission alignment just like any donor.
Poor communication leads to lower donor retention and missed opportunities.
Research a project’s team (including if they’re doxxed), audits, track record, and reputation before engaging.
Random DMs on Telegram, X, and other platforms are a major source of scams and impersonation attempts.
When engaging with Web3, it’s important to take your time, start small, and grow from there.
Trying to do too much in Web3 is overwhelming and can lead to complexity, cost, and burnout.
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