Cryptocurrencies are digital currencies in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

Cool Earth has a commitment to innovation and finding the most effective ways to fundraise.

Cyptocurrency is an innovative new kind of currency. We believe that accepting cryptocurrency will result in donations we may not otherwise receive, as well as connecting us with new types of supporters.

We are set up to receive donations in four cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash & Litecoin)

Yes, they work the same as a cash donation in that anyone can send them to us without providing their details. If people wish to hear from us in the future, they can provide their details voluntarily.

Yes, we use a hardware wallet that we believe offers the best level of protection for our cryptocurrencies using two-factor authentication. We also regularly convert our cryptocurrencies into fiat currency.

As with all online transactions you should take care when entering your information and follow reasonable security measures with your personal information.

A unique feature of the cryptocurrency system is that all cryptocurrency transactions where funds move from one wallet to another are publicly visible in a public ledger that forms the basis of the cryptocurrency system – called the blockchain.

At present we have chosen to receive cryptocurrency donations directly as a pilot scheme. In future, we hope to look at integrating cryptocurrency into our standard donation pages.

Yes. There is currently no legal restriction for merchants to accept payments in cryptocurrencies in the UK, Ireland or the EU.

HMRC have issued guidance to companies on how to handle, record and tax cryptocurrency transactions, and operations which Cool Earth will comply with.

More details on HMRC guidance are available here.

We already have safeguards in place to monitor donations, however we receive them. In addition, we will notify the Charity Commission should an individual anonymous donation exceed a certain amount.

We are also currently reviewing our policy on major donations.

We are well aware that the processing power required to mine cryptocurrencies is having a big impact on the world. The Bitcoin network alone consumes an estimated 56 TWh of electricity per year. We are working on a really exciting project which has the potential to mitigate this. Watch this space…