Litecoin Public Address:
Donating cryptocurrency, or any property that has gone up in value, to charity has some advantages over donating cash. First, when a person sells property that has appreciated, their tax basis is the cost they paid for the property. When they donate the same property, the donor is eligible for a deduction at the current fair market value of the property. The donor benefits from the appreciation without the lower cost basis being held against them.
Example: Dan bought $10,000 worth of Litecoin last year. That Litecoin is now worth $70,000. If Dan sells it, he owes tax on the difference, which is $60,000. If Dan donates the Litecoin to a charity, he can be eligible for a tax deduction of the entire $70,000.