Using Bitcoin and other digital currencies for social good is a great way to bring some positive attention to the world of cryptocurrencies. That is easier said than done, though, as not all charities accept Bitcoin payments just yet. But that situation is coming to a change thanks to Catapultian, as they let anyone donate Bitcoin to any charity in the United States. Quite an interesting development to say the least.
Also read: Bitcoin Service Cointocard Is a Scam
Convincing charities they should start accepting Bitcoin donations is not an easy task, even though multiple payment processors will convert the transactions to fiat currency. Bitcoin price volatility is a major concern for most people, but using the right company to handle digital currency payments removes all of those problems.
When companies such as Catapultian try to bridge that gap, interesting things are bound to happen. The company has enabled Bitcoin donations for any US charity in existence today, and all of these payments are tax deductible as well. Do keep in mind there is a payment processing fee of 0.5% to deposit Bitcoin to one’s Catapultian account.
Not only are there a lot of benefits to charities for accepting Bitcoin payments, but digital currencies will improve the way donations are handled online. Even though the future of Bitcoin might be in question – depending on whom you ask – but there is no denying interest is growing to make digital currency an integral part of online payments.
When a user deposits bitcoins into their Catapultian account, they will be credited with the USD value at the time of the transaction. That balance can then be used to make a contribution to any of the supported US charities. All of the coin transfers will be converted to fiat immediately, as Catapultian will not be holding any bitcoins.
To ensure the service offered is completely transparent, Catapultian mines IRS data to provide a complete list of U.S. exempt organizations. The receipts provided when making donations to one of the eligible charities, users will receive a receipt in the dashboard, which can then be printed out. The main goal of this service is to ensure funds end up where they belong
Source: Catapultian
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