Gone are the days when Bitcoin was looked upon as a dark web currency. Today, Bitcoin is helping non-government organizations fight poverty, illiteracy and offer relief during critical times. During the most recent crisis in Ukraine, Bitcoins worth over $54 million were donated by the crypto community. A lot of leading NGOs around the world accept Bitcoin donations, that’s primarily because it’s fast, efficient, and cheaper to process.
If your NGO still relies on traditional payment systems to collect donations, it’s time to reassess your options. Accepting crypto donations will not only increase your revenue but also help you reach more people.
Enabling Bitcoin donations means global reach and seamless settlements. Here are a few benefits of accepting crypto donations.
Traditional NGOs receive an average donation of $128 per donor. On the contrary, the average crypto donation size is $11,000 on The Giving Block. Crypto donations are 100 times more than cash or any other online donation. That’s primarily because crypto donors hold relatively more money than traditional donors and are 2.4x more likely to increase their year-over-year donations. Thus, accepting crypto donations will increase your revenue and help you amplify your impact.
Next-gen donors are tech-savvy and crypto-friendly. They are 4x more likely to learn about causes from influencers, celebrities, and social media. Gen Z donors are also three times more likely to advocate for an organization when compared to older-generation donors. Meaning, you won’t have to spend a hefty amount of money on awareness campaigns for reaching crypto-friendly donors. You will be able to reach a large number of people with minimal effort.
Payment processing fees levied on donations made through credit cards range from 1.5% to 3.5% per transaction. That’s significantly higher than crypto processing fees which are usually below 1%. Some Bitcoin payment processors even allow NGOs to accept donations for free. This way, you can ensure most of your donors’ contributions are used toward the causes that they care about.
Unlike bank transfers or credit card payments, Bitcoin transactions are instant. All the donations will reflect in your crypto wallet almost immediately. You can also convert Bitcoins to fiat currency in real time through a crypto exchange platform. This can be very helpful when you need funds immediately for helping a cause.
Bitcoins are borderless. Someone from America can easily contribute to a crisis happening in Africa — without paying hefty transaction fees to banks or credit card companies. There are countless examples of the global Bitcoin community coming together to help people in need. In 2022 alone, Bitcoins worth over 8 million dollars were donated globally to various causes. Accepting Bitcoin donations will help you reach the global audience that cares about your cause.
Unlike traditional payment gateways, Bitcoin payment processors can be easily deployed on your website. There are several plug-and-play add-ons available that can be seamlessly integrated into your website with just a few clicks. Furthermore, signing up with a Bitcoin payment processor is equally easy as it requires minimal paperwork and documentation.
Crypto payments are anonymous by nature. While they can be traced, no one can associate a real-world identity with a crypto address. Meaning, your donors can remain anonymous if they prefer so. Allowing anonymity will maximize your donations as many contributors might be hesitant to reveal their donations to the public.
Bitcoin donations are better than fiat currency contributions in many ways. They are fast, secure, immediate, and cheaper to process — empowering NGOs to make a difference for various global causes.
Being an industry-leading payment processor, Speed allows you to accept Bitcoins on the go. It’s easy to integrate and comes with a plethora of features for collecting online and offline donations seamlessly. Let’s look at a few of the features Speed offers.
You can generate payment QRs from the Speed dashboard and POS app with just a few clicks. These codes can be used to collect in-person payments. Your donors can contribute through any Bitcoin wallet by scanning the Speed QR code.
Sign up with Speed to generate your first donation QR
Seamlessly collect online donations through custom payment or checkout links. You can specify the amount and share the link with the donor. They will be able to pay you in Bitcoin using a lightning wallet.
Sign up for a free Speed account to collect online donations
If you collect donations through your website, you can integrate Speed into your site through plug-and-play extensions. Once integrated, your visitors will be able to submit their donations right from the website.
Download the Speed WooCommerce plugin for free
Apart from the above-mentioned ones, Speed offers several additional features like instant payouts, a comprehensive dashboard for managing your payments and transactions, and support for client and server libraries.
If you are an NGO using Speed for collecting donations, you can use it for free. There are no payment processing fees or any platform charges whatsoever. You can use all its features for as long as you want — no strings attached. Create a free account with Speed to experience lightning-fast Bitcoin payments.