Receiving donations is one of the most crucial components of meeting your specific audience's needs and social well-being, regardless of the size of your charity organization. As a result, having a fundraising strategy and a seamless method of accepting can be the difference for your nonprofit organization.
Without a doubt, fundraising and accepting donations for a charitable organization can be difficult, especially when transparency is essential because every donation must be acknowledged and accounted for.
On the other hand, accepting cryptocurrency is one approach to providing a smooth, transparent, safe, and globally accessible donation system. Implementing a cryptocurrency-enabled donations system allows you to meet contributors at their comfort without experiencing transaction difficulty or paying excessive transaction costs, as is common with credit card donation systems.
Aside from the ease of payment that cryptocurrency donation enables, it also allows contributors to make donations without revealing their identities, thus eliminating the issue of data privacy. So, given the benefits of implementing a cryptocurrency donation system for your nonprofit organization, how can you properly accept cryptocurrencies?
This post will discuss the best method of accepting cryptocurrency donations for your charitable organization. But first, here's why your charity should accept cryptocurrency donations.
Why Should You Accept Donations In Cryptocurrency?
Receive The Actual Donation Value
Due to the peer-to-peer nature of cryptocurrency transactions—which eliminates the need for a middleman or central authority like there is in credit card donation systems or other traditional systems—they provide significantly lower transaction and processing fees.
Compared to traditional systems, which can have fees as high as 3.5%, charitable organizations using cryptocurrency-based donation systems can receive the full value of the donation because the fees they pay are typically much lower, usually no more than 1%, and a larger portion of the donation goes directly toward the cause.
For instance, you will be paying a $35 processing fee if you receive a $1,000 gift using a traditional payment method that levies up to 3.5% costs. However, you will only pay $10 in costs when you receive the same $1,000 through a cryptocurrency-enabled contribution system that levies 1% network fees, letting you keep more money for the charitable cause.
Allow Donors to Maintain Their Identity
A cryptocurrency-enabled donation system allows contributors to remain anonymous while supporting your organization. Many contributors choose to remain anonymous for a variety of reasons. Some wish to remain anonymous for personal reasons, while others wish to avoid receiving unsolicited mailings from other charitable organizations that may get their information through data scraping.
Implementing a cryptocurrency donation system is an excellent approach to raising funds for your charitable organization while protecting the donor's data and identity. However, the downside of donor anonymity is that you cannot establish personal contact with them and cannot check the legitimacy of their funds.
Access to Global Donors
Implementing a cryptocurrency-enabled fundraising system exposes your organization to worldwide donors. With this access, your organization can reach anybody, anywhere, globally, without border limitations or paying exorbitant transaction fees.
As a result, anyone with an internet connection may access and utilize them. This enables NGOs to receive donations from supporters all across the world, which is very important for international charities.
How to Accept Cryptocurrency Donations
Through P2P Transaction
Accepting cryptocurrency donations for your charity via P2P transactions is a manual method of accepting cryptocurrency. This entails creating a personal crypto wallet for your organization and storing any cryptocurrency received directly from the contributor without the involvement of a third party.
Accepting donations for your organization using this technique can be difficult since it necessitates a "do it yourself" approach in which you provide contributors with several wallet options and maintain track of transactions. One crucial aspect of receiving cryptocurrency donations in this manner is choosing a trustworthy crypto wallet that supports a diverse range of coins, allowing you to present contributors with various choices.
Through a Crypto Payment Gateway
A cryptocurrency payment gateway, such as CCPayment, eliminates a manual method of collecting cryptocurrency donations by offering an automated solution to take cryptocurrencies without handling them directly. CCPayment accepts cryptocurrency donations on behalf of your charity and has features that allow you to convert cryptocurrencies to your preferred local currency.
Using a crypto payment gateway, such as CCPayment, simplifies the donation process for contributors because they can make donations using any of the 900+ cryptocurrencies accessible. Conversely, it eliminates the need for your organization to keep and manage many crypto wallets, lowering price fluctuation risks.
How CCPayment Handles Your Charity Cryptocurrency Donations
CCPayment is a cutting-edge payment gateway that allows nonprofit organizations to accept Bitcoin, Ethereum, and other cryptocurrencies easily. This platform includes a payment API allowing companies to accept over 900 cryptocurrencies through a single, user-friendly checkout page.
CCPayment charges a service fee of 0.03%, which is 0.97% cheaper than the industry average. Aside from being the market's lowest-fee cryptocurrency payment gateway, CCPayment's capacity to bridge the gap between traditional payment methods and cryptocurrency (fiat-to-cryptocurrency and vice versa) is one of its most prominent features.
CCPayment provides a safe, contactless checkout experience, streamlining the procedure for donors and maintaining the security of their donations. The donation process is completed with these simple steps:
Step 1: Donors make contributions using the CCPayment hosted website created by charitable organizations or through a custom for exclusive donations.
Step 2: CCPayment accepts Bitcoin payments and converts them to the fiat currency of the nonprofit's choosing. CCPayment resolves payment conversion instantaneously, unlike other cryptocurrency payment gateways, which settle payments in cash the following business day.
Another feature distinguishing CCPayment from other crypto payment gateways is its emphasis on security, affordability, and global cryptocurrency acceptance as a mainstream payment method. It seeks to help businesses in accepting a variety of cryptocurrencies while also protecting them from fraudulent transactions.
CCPayment has numerous major advantages. To begin with, it uses powerful data encryption that conforms to anti-money laundering (AML) rules, protecting merchants and consumers from any data breaches. It also has the lowest service cost in the industry for API payments and gives you total control over the checkout process.
Start using CCPayment immediately and enjoy the lowest fee possible, letting you keep more money for the charitable cause.
Crypto fundraising has the potential to revolutionize the game by widening the donor pool, allowing quick and efficient transactions, and capitalizing on market upswings.
Implementing a cryptocurrency-enabled donations system with a low-fee crypto payment gateway like CCPayment offers new profit opportunities for charitable organizations.
However, like with any financial transaction, businesses must understand the risks involved, check their countries' legality, and take appropriate safeguards.