Crypto Biz Magazine—July, 2014/Issue.02

BITCOIN FOR
CHARITIES
by PIOTR PIASECKI
Page.22 July.2014
Crypto Biz Magazine
The Bitcoin technology has a lot to offer to the
non-profit sector. This message permeated the
Bitcoin in the Beltway conference. It doesn’t
matter whether you’re feeding the homeless like
Sean’s Outpost, building water wells through The
Water Project, or mapping the asteroids floating
in our solar system with B612 Foundation, the
Bitcoin community wants to give you money,
and it will go out of its way to make sure you
can accept it.
Using Bitcoin can be a challenge in itself, let
alone using it in your business. However, there are
many great services that take care of everything
for you. For example, BitPay will accept Bitcoin
payments and donations on your behalf, convert
the money into your local currency of choice and
deposit it into your account in a matter of days.
Moreover, if you are a registered charity or nonprofit,
they will do it for free, end-to-end. No
setup fees, no transaction fees, no withdrawal
fees, nothing. All a non-profit needs to do is set
up with the service, put a widget or a QR code
on their website and it’s done.
If that still sounds too complicated, or like
too much of a hassle for your charity, another
organization by the name of Bitcoin 100 will
gladly help you go through the process. In
addition, once you start accepting funds on your
website, they’ll give you the equivalent to $1000
in Bitcoin for your trouble. No strings attached.
While this amount might just pay for the effort
of setting everything up in the West, that can be
a sizable contribution in developing countries.
And that’s only a start…