FAQ

What is Cryptocurrency?

Cryptocurrency, also known as Virtual Currency or “Crypto,” is a digital asset designed to function as a replacement for fiat (US Dollars, for example) whereby transactions between two parties are verified through a public, distributed ledger, also known as a blockchain. Most people think of Bitcoin when they hear the word “Crypto.” While Bitcoin was the first cryptocurrency introduced, there are thousands of unique cryptocurrencies in circulation, each with its own specific properties and values. Learn more at: https://en.wikipedia.org/wiki/Cryptocurrency

How Do I Use the Engiven Platform?

Use the quick and simple sign up form at Engiven.com. Once signed up, verify your organization, create a fund such as “general giving,” create a giving widget/button, and embed the giving widget/button on your website. Once the giving widget/button is active, your nonprofit can begin receiving cryptocurrency donations. Once donations are received, they are automatically converted to fiat currency (USD). For nonprofits who import existing wallets, they can use our advanced liquidation features.

How Many Cryptocurrencies Can My Nonprofit Accept?

Once your nonprofit is on the Engiven platform, you are able receive 95 different cryptocurrency tokens.

How Do I Exchange Cryptocurrency for US Dollars?

The Engiven platform automatically exchanges your cryptocurrency donations for USD at the time of donation.

What does Engiven’s Standard product offer?

Engiven Standard provides everything your nonprofit needs to accept and exchange cryptocurrency donations without any set up fee or monthly fee. Engiven Standard includes:
• Giving widget with your logo
• Ability to accept 95 cryptocurrencies
• One designated giving fund such as “General Giving”
• Automated donation receipts for donors
• Automated exchange for USD
• Fast deposits into your local bank account
• Email notifications for every donation
• Engiven dashboard with full transparency reporting on donations
• Multi-user administration
• Email based support
• No set up fee or monthly fee
• 4% service fee on gifts received

What does Engiven’s Premium product offer?

Engiven Premium provides everything your nonprofit needs to accept and exchange cryptocurrency donations with increased functionality for nonprofits that benefit from more advanced features and functionality. Engiven Premium includes:
• Customized giving page and/or embedded giving form
• Unlimited designated giving funds
• Unlimited giving widgets
• Custody service option (hold crypto in cold storage)
• Automated tax form generation and workflow (8282 & 8283)
• Ability to accept 95 cryptocurrencies
• Automated donation receipts for donors
• Automated exchange for USD
• Fast deposits into your local bank account
• Email notifications for every donation
• Engiven dashboard with full transparency reporting on donations
• Multi-user administration
• Email and live support
• 3% service fee on gifts exchanged for USD
• $1,500 annually or $150 monthly

What are the cost differences between Engiven Standard & Premium?

Standard
• No set up fee or monthly fee
• 4% service fee on donations exchanged for USD

Premium
• $1,500 annually or $150 monthly
• 3% service fee on donations exchanged for USD
• Custody – 1.5% service fee on incoming donations + 1.5% service fee on exchanges for USD + Gemini fee of $125 per exchange + .04% annual fee on the value of the custody assets held.

How does Engiven’s Custody (hold crypto) service work?

Engiven Custody enables Premium users to create designated giving funds where donated crypto is held, not exchanged. When a donor chooses this fund from the giving page, the donated cryptocurrency is deposited into a custody account and held. When the nonprofit wishes to exchange the held crypto for USD, they have this functionality by using their Engiven dashboard (custody to exchange fees apply).

What are the fees for Engiven’s Custody service?

All donations that are deposited into a custody account will be charged a 1.5% fee at the time of deposit. When these funds are exchanged for USD, there will be an additional 1.5% fee for the exchange and a $125 fee assessed by our custody partner, Gemini Trust, LLC each time a crypto asset is moved from cold storage and exchanged for USD. Additionally, Gemini will assess a .04% annual fee on the assets held in custody (assessed monthly in the native assets held).

Is there a contract for Standard or Premium?

Engiven requires all customers to agree to our terms of service. Standard customers may terminate service at any time. Premium customers agree to a 12-month service period, but may terminate service at any time. Engiven does not provide pro-rated refunds for Premium customers to who terminate their service prior to the 12-month service period.

Can I try Standard and then upgrade to Premium?

Yes. Standard users can easily upgrade to Premium at any time via our dashboard.

How do I pay for Premium?

Engiven accepts most major credit cards for the Premium payment subscription.