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As many nonprofit organisations already know, accepting bitcoin donations is a great strategy. The Wikimedia foundation received over $100,000 in bitcoin donations in just the first week after accepting the cryptocurrency. By accepting bitcoin, there is zero risk of chargebacks to the nonprofits, and making a donation is quick and easy. Furthermore, BitPay, the American Red Cross's payment processor of choice, will process the donations without any fees, so the ARC will be able to keep 100% of donations made through BitPay.
BitPay and the ARC are very optimistic about this new partnership. “Introducing the American Red Cross to the bitcoin community is really going to showcase the generosity of this new group of consumers,” said Elizabeth Ploshay, who heads up nonprofit outreach for BitPay. “Bitcoin users are extremely passionate people who are looking to put their bitcoin towards good causes. I’m sure the community will be excited to have such an established charity to donate to.”
“The Red Cross is thrilled to partner with BitPay to offer a different way for generous donors to support our humanitarian mission,” said Jennifer Niyangoda, executive director of Corporate and Foundation Programs at American Red Cross. “This gives a new generation of supporters the opportunity to help people in need.”
The American Red Cross's bitcoin campaign officially starts Friday, November 28th, and ends Tuesday, December 2nd, on a day known to Bitcoiners as "Giving Tuesday" (though the organisation will still continue to accept bitcoin donations after the 2nd.). However, the ARC's BitPay page is already set up and ready to accept donations.
The American Red Cross is one of the earliest nonprofit organisations in America, founded in 1881 by Clara Barton for domestic disaster relief. Since then, the ARC has expanded to support worldwide community support initiatives and typically focuses on aiding victims of war and natural disasters.
What are your thoughts on the American Red Cross accepting bitcoin donations? Share your thoughts in the comments section below.
Images from Shutterstock.
Last modified (UTC): November 27, 2014 6:49 AM