U.S. Charities are becoming increasingly aware of the advantages of Bitcoin it seems as many more have started accepting Bitcoin. Even though Bitcoin is at a low point in its recent history it seems many charities are looking into new technology. Many charities such as Save the Children and the American Red Cross have explored into Bitcoin along with services which means Bitcoins has become a regular currency.
The Bitcoin community may be feeling low but still its cheery as charities still received donations last December however the lower price meant less money was raised. In late 2012 Charities raised over $1 million which just shows how open hearted the Bitcoin community is. Many charities first started accepting Bitcoin as it has lower transaction fees than traditional fees and was faster and easier. However the unstable price can cause some problems.
Save the children started accepting Bitcoin in 2013 when a typhoon hit the Philippines. BitPay takes the donations and converts it to dollars which means Bitcoin price changes wouldn’t affect the donations. BitPay does not charge any additional transaction fee to charities which further helps the cause. It also means they can receive donations from “the younger pool of donors” and also collect donations that they would have otherwise missed.
“We want to remain contemporary and relevant to current and future generations, we don’t only want to be your grandmother’s charity, and we want to be your grandchild’s charity. One way to do that is to accept Bitcoin” Ettore Rossetti, director of social media and digital marketing at the organization.
Charities also have to keep up with new ways to collect donations as trends come and go quickly but many go unnoticed by charities. On many Bitcoin forums it was noticed that Bitcoin users were raising awareness for disaster victims.
“Right now, accepting or not accepting Bitcoin donations is not likely to be a make-or-break decision for you, “according to Joe Garecht of The Fundraising Authority. “That being said, if your donors tend to skew younger or are generally tech-savvy, or ‘early adopters,’ accepting Bitcoin for donations could appeal to your donor base and lead to more and larger donations.”
Furthermore Bitcoin is gaining lots of publicity as it is still becoming used in more services and more big companies are realising the benefits. Dell and Twitch have already started accepting Bitcoin and hopefully many more will too as the ever-expanding Bitcoin community could do with more services to spend their Bitcoin on. As many more people are starting to use cryptocurrencies the services and options available for Bitcoin users are rapidly increasing. In the matter of a few years who knows how many people will be using Bitcoin and how they will be.