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Bitcoin: What Nonprofits Need to Know and How It Might Give Your Fundraising a Competitive AdvantageDisclaimer: while we do not necessarily recommend this approach to fundraising at this time, we like the low transaction cost alternatives it offers

Even if you don’t feel you completely understand it, you’ve likely heard a lot about the cryptocurrency craze. Massive amounts of money have been invested in these digital coins, and even with head-spinning gyrations in this new asset class in recent months, experts believe there’s a potential to earn vast riches in the cryptocurrency market.

GuideStar’s blog on how non-profits could leverage this potential source of donor revenue uses Bitcoin as an example of how to save on fees:

“Accepting donations in Bitcoin can reduce the financial transaction fees a nonprofit owes. With Bitcoin, the costs are significantly lower compared to checks, credit cards, and other digital options, and if your organization is a registered 501(c)(3), there are zero transaction fees on platforms such as Coinbase or Bitpay. There is also no risk of bank charges accruing to the nonprofit in the case of a donor using a fraudulent credit card.”

Read more here.

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