Today, cryptocurrencies are on everyone’s mind since many people want to get hold of them. There are several ways one can get crypto. Purchasing it on an exchange is, perhaps, the easiest approach out there. Then comes mining which can entail significant expenses before there is a chance to make any profit whatsoever.
Accepting crypto as payment is particularly lucrative, but not everyone has a product or a service to sell.
Thus, getting crypto in the form of donations seems to be the most convenient and most accessible path one can take. Essentially, all one needs to do is to place a donation tool on their page, be it a website or a blog, and start receiving virtual currency from the audience.
Here are some ways to accept crypto donations:
Key Points
- Cryptocurrencies are perfect for international transfers and do not require bank authorization
- Charities and bloggers can greatly benefit from accepting donations in crypto
- NOWPayments users can receive crypto donations by utilizing a donation widget, donation button, or donation link.
Advantages of Crypto Donations
Borderless Transactions
Today, organizations that raise money for causes such as planting trees in the areas facing deforestation or saving endangered species need to have a global outreach. Every penny matters for charities. Yet, standard donation methods can limit their opportunities since they often do not support international money transfers. Additionally, some people willing to donate may not have an account in an online payment system such as PayPal. Cryptocurrencies do not have any of these problems since they are truly borderless and do not require users to register. Everyone who has crypto in their wallet can quickly transfer it to any part of the world, and the transaction will be processed almost instantly.
Low Fees
The standard method of sending a donation usually makes it obligatory for the sender to pay hefty banking fees, which may deter people from giving away significant sums. Crypto donations do not involve any additional expenses apart from a small transaction fee which can be extremely low depending on the type of crypto. Organizations that start accepting crypto donations can potentially increase the amounts of their contributions since their donors will not have to pay for bank fees with the money which can go to the charity.
Community
As everyone probably knows, recently, the capitalization of the cryptocurrency market has been going through the roof. This means that there are numerous people who believe in the technology and wish to use it to its full capacity. Unfortunately, there are still not many places for them to spend their crypto at. Bloggers and charities can take advantage of the situation and start featuring crypto donations on their websites. There is a good chance that there are individuals who will be excited to encourage their favorite blogger with Ethereum or make a generous donation in Bitcoin to the NGO of their choice.
Who Can Benefit from Crypto Donations
Charities and NGOs
Charities are among the main beneficiaries of crypto donations since they provide considerable opportunities for recruiting new donors and raising larger sums of money for different causes. Apart from these factors, charity organizations that operate undercover or provide funding to people living in a hostile environment can ensure anonymity with the help of crypto donations. Essentially, by carrying out transactions on a blockchain, they can maintain privacy and avoid drawing the attention of their authoritarian regimes. For instance, LGBTQ+ organizations still come under heavy pressure in certain countries, and using cryptocurrencies can significantly improve their safety.
Bloggers
Bloggers are another group that can utilize crypto donations. Usually, people who have their own blogs write their posts, make videos, or generate any other kind of content for free. In such cases, their only stream of revenue can come from companies that partner with influencers to advertise their products and services. Yet, those bloggers who want to stay completely independent often do not have any source of income other than donations from their audience. Cryptocurrencies let bloggers reach patrons in all parts of the world and make it possible for them to send their donations effortlessly and cheaply.
Streamers
Similar to bloggers, streamers also do not have any other options to support their channels than to receive donations. Moreover, donations are virtually the backbone of the whole streaming industry. Featuring crypto donations seems like a reasonable decision considering that many people who enjoy watching streamers also possess digital assets and would love to share them with their favorite influencers. Another reason why streamers should adopt crypto donations is the speed of crypto transactions. Of course, there are various types of virtual currencies, and the speed of transfers depends on their blockchain’s scalability. Yet, coins such as NANO and XRP can process transactions in under 6 seconds which is perfect for those who want to receive their donations instantly.
How to Start Accepting Crypto Donations
Crypto Donation Widget
It is evident that crypto donations have numerous benefits for charities, non-governmental organizations, bloggers, and streamers. NOWPayments offers a ready-made solution for everyone who wishes to accept donations in cryptocurrencies.
The crypto donation widget by NOWPayments has a user-friendly interface and can be easily deployed on any website or blog in a matter of minutes. All one has to do is to create an account with NOWPayments, add the wallet address, generate an API key in the store settings, paste the key to the crypto widget code, and place this widget on a webpage.
Crypto donations have never been easier than this. No matter which platform you use to host your blog or website, whether it is WordPress or Wix, practically all of them allow users to place any widgets.
Crypto Donation Button
Those who do not want to put a widget on their webpage, perhaps out of its aesthetic mismatch with the blog’s design, can utilize a crypto donation button. This tool is much smaller in size and can perfectly fit in any type of environment. For instance, a crypto donation button will be particularly convenient for Twitch donations as Twitch streamers can place it in their bio. Audience members will simply press it and will be able to send some crypto to the streamer’s wallet.
Crypto Donation Link
Some platforms such as Twitter, Instagram, Facebook, and YouTube do not let their users integrate widgets on their pages, and the two tools mentioned above will not work on these services. Nevertheless, NOWPayments has a solution. Users of these platforms can simply generate a crypto donation link and put it in their bio, under a video, or in a post. The link will take the person wishing to donate their crypto to a webpage where they will get a chance to do it.
Conclusion
Crypto donations are another way to receive cryptocurrencies without the need to mine or purchase them. Accepting donations in crypto has a plethora of advantages. Cryptocurrencies can be transferred across the world almost instantly and do not require any authorization from banks. Users also pay very small fees for transactions and do not need to register, thus staying completely anonymous. NOWPayments offers three various ways to accept crypto donations which will work for the majority of bloggers, streamers, charities, and NGOs.