I’m a donor. How do I know projects are getting my money?
Each project description page shows a list of all donations made to that project and by who. Giveth.io does not collect any fees and your donation is sent directly to the project's provided wallet address. You can also find your donation on the blockchain by the link to the transaction on a block explorer (i.e etherscan.io) after you make a succesful donation.
Is there a maximum funding cap for a single project?
There is no maximum funding cap for projects. However, projects are encouraged to define specific funding requirements for better transparency.
Is Giveth recognized as an official charity?
With the help of SDG impact fund the Giveth DAO and community based organizational structure is represented as a non-profit 501c3 in the United States. We are a community-led project and will not derive any direct profit from the platform. We guarantee all funds will get recycled back into the Community that is ensuring the Giveth Platform becomes adopted widely.
Can I donate on Giveth if I don't have crypto?
FIAT integration (donate funds from your credit card or bank account) is coming soon! Stay tuned... Giveth has also partnered with SDG Impact Fund to make it possible for donors to contribute tax-deductible donations, in fiat or crypto, to altruistic projects on the blockchain. This is a major development in finance innovation to effectively care for the commons. We are very close to having fiat options integrated with the Dapp. Until then, fiat donations will accepted here. To learn more about the partnership between giveth and the SDG Impact Fund, please refer to this blog post.
What is a Traceable project?
A project on Giveth.io that has been verified can choose to become a Campaign on Giveth TRACE, thus becoming a traceable project. This enables project creators to manage their donations transparently using Traces. Traces specify how the project is using their donations to achieve the goals of the overarching Campaigns. Upgrading giveth.io projects to Campaigns enables project creators to specify parts of their project requiring funding as different types of Traces. Donors benefit from being able to choose to fund either specific Traces or the overarching Campaign, and are able to trace the flow of their donations. A traceable project appears on both Giveth TRACE (as a Campaign) and Giveth.io, allowing for double exposure! To learn how to make your project traceable, visit our documentation.
Is my donation tax deductible?
Yes! Giveth is a 501c3 non-profit and donations made to projects are tax deductible for US tax payers. However, you are responsible to consult with your tax attorney for legal or financial advice. Giveth is a Decentralized Altruistic Community and with the help of SDG impact fund our DAO and community based organizational structure is represented as a non-profit 501c3 in the United States. We are a community-led project and will not derive any direct profit from the platform. We guarantee all funds will get recycled back into the Community that is ensuring the Giveth Platform gets adopted widely
What is Blockchain?
Simply, it is a secure form of digital cash that can be transferred anywhere in the world peer-to-peer, similar to email (where the emails server is replaced with a decentralized network). More technically, bitcoin is a type of digital currency that uses cryptography and open source software to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. There is a distinction between bitcoin, the digital currency, and Blockchain the technology, which has many additional potential use cases beyond the currency.
How can I be sure my donations are making a difference?
We believe that every human being should be able to transparently see their funds create good in the world. Transparency is the key to staying focused on the work at hand. Project owners will be responsible for providing updates on how donations to their project are used.
I like your project but right now I have no funds to donate, how else can I contribute?
We are a very inclusive Community and would love for you to join and see how you can get involved. Join us on any of our social channels and come talk to us!
What is a Verified Project?
A verified project is a project that has been human verified to be legitimate and contributing to create positive change in the world. Verified projects also become eligible to join the GIVbacks program (details coming soon) and also allow project creators to expand into a new suite of tools that provide their donors with extra ways to give. A project that is Verified can choose to become a Campaign on Giveth TRACE, enabling project creators to manage their donations transparently using Traces. Traces specify how the project is using their donations to achieve the goals of the overarching Campaigns. For more information on how to get verified, visit our documentation article.
What is Ethereum?
"It's the world's programmable blockchain. Ethereum builds on Bitcoin's innovation, with some big differences. Both let you use digital money without payment providers or banks. But Ethereum is programmable, so you can also use it for lots of different digital assets – even Bitcoin! This also means Ethereum is for more than payments. It's a marketplace of financial services, games and apps that can't steal your data or censor you." - Ethereum.org website
Are there fees for creating a project?
Nope! Giveth will never charge any additional fees for creating projects on our platform. If you create a project on Giveth.io it creates an entry in our database that directly points to your chosen Ethereum wallet. You can do this as well with a brand new account that holds zero funds. There are minor fees when using the ethereum network, and if you use other exchanges or services, there are likely associated fees. To learn more, read up on some of the foundation mechanics of Ethereum.
Why donate cryptocurrency?
Cryptocurrency knows no borders and marginalizes nobody. It cannot be taken from you if you hold your keys. When you donate crypto, you do not recognize capital gains from the crypto you hold and you can deduct it from your taxes. In other words, donating your crypto can often reduce your tax burden. Would you rather donate to the tax agency or your favorite cause?
Where can I see in detail what you are spending donations to Giveth on?
One of the core values of Giveth is transparency. We invite everyone to have a look at our finances. Funding, expenditures and payments relating to Giveth can be seen in the Giveth Community on Giveth TRACE. All movements are visible at a very granular level in the DApp as well as from an Ethereum blockchain explorer.
What is Giveth?
Giveth is a community focused on Building the Future of Giving using blockchain technology. Our intention is to support and reward the funding of public goods by creating open, transparent and free access to the revolutionary funding opportunities available within the Ethereum ecosystem.
What percentage of the donations go directly to the project?
100% of funds raised on Giveth go directly to the project. Giveth does not charge fees to givers or makers. There are minor fees when using the ethereum network, and if you use other exchanges or services, there are likely associated fees. To learn more about fees and how Ethereum works, visit their website.
How do I know the project I contributed to was completed?
Each project has the opportunity to post updates as its status changes, and donors who contributed to that project will receive notifications when a project owner posts and update. Donors can log back on to Giveth to see photos, written updates, and sometimes videos of a given project. Updates are the responsiblity of the project owner, Giveth has no direct control in facilitating these updates.
Does the IRS recognize cryptocurrency donations?
The IRS classifies cryptocurrencies as property, so cryptocurrency donations to 501c3 organizations receive the same tax treatment as stocks.
What is the difference between Bitcoin and Ethereum?
"Bitcoin is intended to function as decentralized means of value transfer whereas Ethereum is a protocol that allows users to develop decentralized applications on top of a blockchain network. As prominent Ethereum developer Vlad Zamfir has confirmed on several occasions, Ethereum is “not money.” Ethereum’s native token, Ether (ETH) exists in order to facilitate the process of building and deploying distributed applications. Meanwhile, the bitcoin currency exists on the Bitcoin blockchain to facilitate peer-to-peer (P2P) exchange of uncensorable, non-confiscatable money." from cryptocompare.com