Oak Lawn Children’s Museum Now Accepting Cryptocurrency Donations

OAK LAWN, IL -- The Children’s Museum in Oak Lawn is now accepting cryptocurrency as donations, becoming the first children’s museum in the country to accept such donations.

"We learned a lot from being closed most of 2020," the museum’s executive director Adam Woodworth said in a news release. "The one thing we learned is that people want to support the museum through donations and volunteering; and we need to be able to meet those supporters where they are."

A cryptocurrency, or crypto, is a digital currency that can be used to buy goods and services, but is secured but uses an online ledger with strong cryptography that makes it nearly impossible to counterfeit or double-spend. The most popular form of cryptocurrency is Bitcoin.

Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions, according to NerdWallet.

The children’s museum already offers multiple ways that people can contribute, by donating a vehicle, stock, including the museum in your will or as partial beneficiary of your life insurance policy, as well as donating by cash, check or credit card. Cryptocurrency offers another option, especially if you’ve already purchased some, to support the museum’s mission.

"We partnered with Engiven, a platform that helps nonprofits easily accept donations of cryptocurrency," Woodworth said. "Within 24 hours of launch, we received our first cryptocurrency donation. It was exciting."

The cryptocurrency donation immediately goes through an exchange and the museum receives the cash equivalent of the value of that crypto at the time of the donation.

The museum is not accepting cryptocurrency to purchase admissions or memberships, yet, but Woodworth said that he doesn't rule out that possibility in the future.

"Cryptocurrency has been around a while, but it's new to a lot of people," Woodworth said. "I don't think any of us really know where it is heading. What we do know is that it is here, people are investing in it and there is a belief that this will take hold as a viable and well-recognized currency. We thought we should be part of it."

Visit Help-Us-Grow to learn more about supporting and donating to the Children’s Museum In Oak Lawn.