TLDR
- Charities in South Korea are asking for one-click crypto donation features inside exchange apps.
- The current crypto donation process in South Korea involves six manual steps, which many donors find inconvenient.
- Only cryptocurrencies listed on at least three major South Korean exchanges are accepted by charities.
- Donors must commit to a fixed coin amount and cannot change it even if the market price fluctuates.
- Most charities in South Korea sell the donated crypto within two days to reduce market risk.
Charities in South Korea now seek simplified crypto donation systems as existing methods involve six steps and slow verification processes, even though regulation supports digital asset giving. The country has over 10 million crypto users, yet only a few donate directly with cryptocurrency due to long procedures and coin restrictions.
Growing Demand for Streamlined Crypto Donations
South Korean charities are pushing for easier crypto donation systems within exchange apps. The current method involves too many manual steps. Donors must first call the charity before filling a form that includes personal details and donation information.
Once submitted, charities review the form and verify the crypto’s legality before providing a wallet address. Only coins listed on three or more of South Korea’s five major exchanges are accepted. These exchanges include Upbit, Bithumb, Korbit, Coinone, and Gopax.
Currently, donors must commit to a fixed coin amount, not a fiat value. Any price change requires restarting the process. The Community Chest of Korea, known locally as Fruit of Love, supports this donation method. However, it received only 1 BTC in crypto donations last year.
The Korean Red Cross and Seoul National University Hospital also received 1 BTC each from the same donor. That donor had to repeat the six-step process for each donation. A charity official stated, “We want to reduce friction and enable donors to give directly through trusted crypto apps with one click.”
Crypto Regulation Encourages Charitable Adoption in South Korea
Charities say crypto is easier to track under current regulations, which helps prevent illegal use. But despite this, most donors prefer cash. Crypto donations qualify for tax deductions like cash. Still, few individuals donate digital assets due to price fluctuations and complexity.
Donors’ risk value changes between form submission and donation time. If the market moves, the donation value could shift drastically. Charities typically sell received crypto within two days. Large donations are sold in parts, but are still quick to manage risk.
There is no set minimum or maximum donation amount. Donors may give any amount as long as it meets the exchange listing condition. While regulation makes donations legal and secure, convenience remains the biggest challenge. Charity officials believe integrated solutions inside exchange apps could help.
Global Examples Show Faster Donation Systems
In the United States, crypto donations reached $688 million in 2024. The process is faster and often integrated into apps. Since 2014, U.S. political campaigns have accepted Bitcoin. This early adoption helped normalize crypto giving across sectors. Across Europe, over 1,300 organizations accept crypto. France has seen rising use of digital asset donations among nonprofits.
Dubai has introduced a giving framework that allows crypto donations to registered charities. Local NGOs have started adapting. UNICEF and the Rainforest Foundation also accept crypto donations worldwide. These organizations use global platforms with automatic tools for fast transfers.
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