[2014-08-11] Bitcoin Boost: Bitcoin Holds Promise for Non-Profits

[zakoliverz]

http://www.technews.org/bitcoin-boost-bitcoin-holds-promise-for-non-profits/2913147/

“Dignitas has to deal with high credit card and transaction fees on all of our donations which can range between 2-5%,” explained Anne Connelly, the charity’s director of fundraising and marketing. She added: “Every donation dollar we lose in a currency exchange or a transfer fee is a dollar that is not going to help someone in need.”

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[Mr Tea]

Yet another excllent use of bitcoin and its benefits. I hope kit catches on with charities as the benefits are massive to them.

[Clegg]

Although payment processors Coinbase and BitPay have waived fees for non-profits in the US, Dignitas, which is headquartered in Toronto, uses Canadian exchange Virtex to convert the bitcoin it receives into Canadian dollars. On average each conversion charges the charity a fee between 0.2% and 0.75%, significantly less than via traditional means.

Wow, did not know they did that. That's pretty great that they offer that and also great for adoption.

[TheButterZone]

BitPay waived fees even for profits in the US... https://bitpay.com/pricing

[Silly Money]

It's really great that they would waive their fees. Charaties would be silly not to accept bitcoin now.

[Gervais]

I think as a community we should really do our bit to spread the benefits of bitcoin to charities. With even payment processors offering zero fees charaties could really be missing out here and it's great publicity for bitcoin.