GiveCampus is thrilled to partner with Gemini to bring cryptocurrency as a payment option for Giving Forms and campaigns. This will be a tremendous tool for schools to accommodate their contributors. The GiveCampus team is here to simplify the process and help you navigate this wonderful addition. As always, please reach out to support@givecampus.com with any questions.
Things to know about Crypto donations
The primary difference between cryptocurrency gifts and all other gifts made via GiveCampus is that the donor must go outside of the GiveCampus flow to initiate their gift. In order to complete the transaction, a donor will use the donation address provided by GiveCampus to initiate a gift from within their Crypto Wallet.
Below is the flow for a donor who would like to make a crypto gift on GiveCampus:
FAQs
What is Gemini?
Gemini is a regulated cryptocurrency exchange where crypto transactions happen. There are other exchanges, but Gemini leads the way and is known for its security and ease of use.
With the GiveCampus integration, schools will have an account with Gemini where the crypto is “deposited” and immediately converted into fiat currency (U.S. dollars). As with our integrations with Stripe and PayPal, each school owns its account with Gemini. However, we do not manage Gemini accounts in all of the same ways that we manage Stripe and PayPal accounts.
Does GiveCampus manage the Gemini account?
GiveCampus will assist the school in setting up a Gemini account, and we will be facilitating the transfer of cryptocurrency into this account and the immediate conversion of that cryptocurrency into fiat currency (US dollars).
GiveCampus reporting reflects gifts that involve a transfer of cryptocurrency value into the school’s Gemini account (including the type of cryptocurrency transferred and its US dollar value upon conversion), but we do not directly report on the final transfer of money from Gemini to the school’s bank account.
For Gemini accounts created prior to February 2023
Unlike with Stripe and PayPal, we do not directly facilitate the transfer of this money into the school’s bank account. Schools will need to do this themselves.
For Gemini accounts created on or after February 2023
TGB automatically sends USD to bank account (weekly on Tuesday)
Since the actual transaction does not occur within GiveCampus, when does the gift get recorded within GiveCampus?
As with any other gift, a “pending” gift will be created whenever a donor moves beyond the pre-payment page. If the donor clicks “Generate Donation Address” then the gift will be recorded as a crypto gift and will still be in the pending state.
After the donor initiates a cryptocurrency transaction from their wallet, The Giving Block (TGB) will accept that transaction and convert it to USD. When this happens, TGB will send information to GiveCampus that will allow GiveCampus to “complete” the transaction. The donation will then reflect the paid state and include all of the crypto transaction information.
What is the expected period of time between when a donation is initiated and when the US dollar value of the donation is known?
10 minutes to 2.5 hours
More information may be found at the Gemini site (https://support.gemini.com/hc/en-us/articles/205424836-How-long-until-my-crypto-deposit-reaches-my-account-)
When will the gift be reflected in the campaign total?
After GiveCamps receives confirmation from TGB that the crypto transaction has been completed and converted to USD.
What is a “Donation Wallet Address?"
After the donor selects their preferred cryptocurrency, a “Donation Wallet Address” will be generated and displayed within the GiveCampus platform. A user should copy and paste this address into their crypto wallet.
Important: The wallet address varies based on the currency being used. The donor should use the same currency that they’ve selected within the GiveCampus platform when transferring their crypto from their wallet to the wallet address.
Will refunds be an option?
There is not a 'refund' concept with cryptocurrency, and since the cryptocurrency is converted to fiat on receipt, it cannot be returned to the donor in the original currency. We recommend working with your business office to arrange a different payment in the event a refund is necessary.
Will schools have the option of retaining the cryptocurrency as crypto (instead of converting to fiat currency immediately)?
No, the cryptocurrency must be converted to fiat currency.
Will subscription utilization be based on the fiat conversion amount (i.e. dollars instead of crypto)?
Yes, we will calculate subscription utilization based on the amount of US dollars actually received by the school.
What reporting options will be available for crypto?
In addition to all standard reporting information, crypto donations will also have the following information available within donation reports:
value_usd: The net USD value of the crypto donation to the school
currency: The cryptocurrency code (e.g. BTC)
payment_service_fee: The fee paid for the transaction
crypto_transaction_hash_id: The Blockchain transaction ID of the crypto transfer. More information about hash IDs can be found here.
While reporting will include the amount of cryptocurrency in USD at the time of conversion, no tax receipt will be provided.
Is crypto an option for all types of donations on GiveCampus?
Cryptocurrency is not currently available for payment of a recurring gift or offer a match or challenge. It may be used for a gift that qualifies for a match or challenge already in place.
Donors may not claim a timely incentive when paying with cryptocurrency, nor can multiple gift designations be made at this time.
What types of cryptocurrency does GiveCampus currently accept? *Updated August 2023
0x (ZRX)
API3 (API3)
Aave (AAVE)
Amp (AMP)
Ankr (ANKR)
ApeCoin (APE)
Avalanche (AVAX)
Axie Infinity (AXS)
Basic Attention Token (BAT)
Bitcoin (BTC)
Bitcoin Cash (BCH)
ChainLink (LINK)
Chiliz (CHZ)
Compound (COMP)
Cube (CUBE)
Curve DAO Token (CRV)
Dai (DAI)
DeFi Pulse Index (DPI)
Dogecoin (DOGE)
Dogelon Mars (ELON)
Enjin Coin (ENJ)
Ethereum (ETH)
Ethereum Name Service (ENS)
Fantom (FTM)
Fetch.ai (FET)
Filecoin (FIL)
Gala (GALA)
Galaxe (GAL)
Gemini Dollar (GUSD)
Geojam (JAM)
Injective Protocol (INJ)
Lido DAO (LDO)
Liquity (LQTY)
Liquity USD (LUSD)
Litecoin (LTC)
Livepeer (LPT)
Loopring (LRC)
Magic Internet Money (MIM)
Maker (MKR)
Mana (MANA)
Maple Finance (MPL)
Mask Network (MASK)
Merit Circle (MC)
Metis (METIS)
Mirror Protocol (MIR)
Orchid (OXT)
PAX Gold (PAXG)
Polkadot (DOT)
Polygon (MATIC)
Qredo (QRDO)
Quant (QNT)
Rally (RLY)
Ren (REN)
Render Token (RNDR)
STEPN (GMT)
Saber (SBR)
Samoyedcoin (SAMO)
Sandbox (SAND)
Shiba Inu (SHIB)
Skale (SKL)
Solana (SOL)
Storj (STORJ)
SushiSwap (SUSHI)
Synthetix (SNX)
Terra (LUNA)
TerraUSD (UST)
Tether (USDT)
Tezos (XTZ)
The Graph (GRT)
UMA (UMA)
USD Coin (USDC)
Uniswap (UNI)
Wrapped Centrifuge (WCFG)
Yearn Finance (YFI)
Zcash (ZEC)
Managing Deposits and Fees
How do I deposit the converted USD for my crypto gifts?
For Gemini accounts created prior to February 2023
Schools will initiate their own transfer by logging into Gemini and initiating the transfer.
For Gemini accounts created on or after February 2023
TGB automatically sends USD to bank account (weekly on Tuesday)
For all accounts
Deposit reports are not generated for crypto gifts made on GiveCampus.
How are fees assessed for gifts made using crypto?
For Gemini accounts created prior to February 2023
Gemini charges a fee of 0.35% (of each donation/transaction), subject to its terms and conditions.
For Gemini accounts created on or after February 2023
Gemini charges a fee of 0.08% (of each donation/transaction), subject to its terms and conditions.
For all accounts
This fee is deducted automatically from the Gemini account balance and referenced in the gift details on GiveCampus.
The information about each donation (and the donor) will appear in your normal GiveCampus donation reports. Crypto donations count toward any subscriptions just as other contributions. There are no additional or 'special' fees from GiveCampus associated with Crypto donations. All fees, with the exception of the Gemini fee referenced above, are invoiced in the same manner as other gifts.