Individuals and companies all over the world have been looking at different ways to accept bitcoin donations. Although one could argue putting a bitcoin address on a website or business card is more than plenty, there are quite a few different ways to incorporate bitcoin donation options on a website. We have looked at some of the options and how they compare to one another.
Most bitcoin enthusiasts know the BitAddress website as a way to generate a paper wallet. This particular paper wallet can also be used to set up a bitcoin donation address, directly ensuring the funds will be sent to an address that is not linked to an internet-connected device. Although this may seem like a bit too much hassle to some people, keeping bitcoin funds in a secure environment is of the utmost importance after all.
When it comes to accepting bitcoin payments or donations, Coingate is an option well worth checking out. It is a good solution for people who want to receive bitcoin transactions, but not keep their funds in cryptocurrency. Instead, Coingate lets users convert bitcoin to Euros or US Dollars. Do keep in mind there is a 1% conversion fee associated with the platform, which some people may see as a slight drawback.
Albeit most people know BitPay as a company processing bitcoin payments for merchants, the company has always been keen on letting people accept donations as well. The company even developed a set of nonprofit tools anyone can incorporate into any website with relative ease. It is good to see such companies acknowledge the demand for bitcoin donation acceptance options.
To be more specific, BitPay provides users with donation buttons – as one would expect – or a hosted donation page. This latter option is quite interesting for organizations who want to design their own “template”, so to speak. Both options take a few minutes to set up and add to any online platform in the world.
Popular bitcoin exchange Coinbase has also been working on ways to let charities accept bitcoin donations. Users need to create a platform account and create a merchant profile. They can then turn on the instant-exchange feature to convert funds to US Dollars. Last but not least, there is the donation button generator, which can be added to any webpage with little friction.
Although third-party donation services are convenient, there is no better way to fully control incoming donations than by using one of your own bitcoin addresses. The best way to do so is by generating a QR code for that address and posting it on the webpage. BitAddress provides this functionality as well, but some users prefer to generate their own addresses with a wallet they fully control.
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