Wikipedia Starts Accepting Crypto Donations
February 1, 2019 11:39 am
Bitcoin Cash Payments
The non-profit, Wikimedia Foundation operates Wikipedia and other free knowledge projects, and has partnered with BitPay, the famous crypto payment service, to accept bitcoin cash (BCH) and bitcoin core (BTC) donations. The foundation has been accepting bitcoin since 2014 through Coinbase, but recently changed payment processors to BitPay and took the chance to expand to other bitcoin currencies.
The director of payments and operations at Wikimedia Foundation, Pats Pena said, “Our donors have shown an increased interest for different cryptocurrencies, so accepting bitcoin cash was a natural step. We accept donations globally, and we strive to provide a large variety of donation options. It’s very important that we can get international donations processed in ways that are efficient and cost-effective.”
Economic Payment Options Available
BitPay is compatible with many big non-profits, allowing them to accept crypto donations. As per the payment service company reports, the donations have increased drastically in the last few years, especially at the end of the year, when people seek tax benefits.
The payment service has processed many multi-million dollar donations to non-profits in the recent past and anticipates more of them in the coming years.
Sonny Singh, BitPay’s chief commercial officer, said:
“Bitcoin and bitcoin cash are one of the cheapest payment options available so more money goes to charity rather than paying fees. Wikimedia does so much good around the world that it is a privilege to help them raise money.”
Recently, BitPay reported strong performance in 2018. The service processed more than $1 billion in payments for a second year, setting a new record for transaction fee revenue by adding new customers. The B2B operation of the company also had a record year as it expanded 255 percent in 2017.
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