5 Best Aspects of BitDonate – and How Churches Can Take Advantage
You’ve no doubt seen stories of cryptocurrency in the media. What some folks once considered “imaginary money” is now an established financial system. In fact, churches and nonprofits have seen an increasing number of people donating these digital coins. BitDonate is one way they’re doing so, but is it the right way? What are the best aspects of BitDonate that make it so appealing?
Fortunately, there’s no shortage of stellar features on this platform. In the following guide, however, we’ll present the aspects that really make it stand out. There are a few crypto donation platforms to choose from, but it’s rare to find an option that combines all these features into one. Even better? If you like what you see, you can access this resource for free with DonorWERX.
1. Cryptocurrency eWallet
The cryptocurrency eWallet could easily stand out as the best aspect of BitDonate. That’s because it’s the most important element of any crypto giving platform. Unfortunately, donors can’t transfer digital coins through traditional means. If you asked a financial advisor how to deposit $1,000 of Bitcoin (BTC) or Ethereum (ETH) in your bank account, there’s a good chance they’d laugh you right out of the branch.
Transferring these digital coins on the blockchain requires a crypto wallet, and that’s why every BitDonate account comes with automatic eWallet activation. The most exciting part is that you don’t have to set this up yourself. You only need to go through the sign-up process — which typically takes less than two minutes — and your eWallet is automatically set up for you.
Of course, one of the best aspects of BitDonate has to offer more, right? Fortunately, the answer is yes. The BitDonate eWallet also allows unlimited donations with small transaction fees. No contribution is too large or too small. And since philanthropists can contribute to any organization on the platform’s database, some churches and nonprofits may already have funds waiting!
2. GuideStar Nonprofit Integration
How is it that a church could already have donor contributions waiting for them? That leads us to one of the other best aspects of BitDonate: the GuideStar database. GuideStar offers the most comprehensive and up-to-date information on organizations with nonprofit status in America. This means the majority of churches and charities are already in the BitDonate system.
That single feature is why it’s so simple to sign up and claim an eWallet. The fact is that your ministry or organization information is likely in the database thanks to your tax documents. This means you get to avoid digging through records to find the necessary paperwork to sign up. Simply find your ministry on the website and claim it as your own, and you’ll quickly have your own eWallet.
GuideStar is also one of the best aspects of BitDonate because it opens the door to a new donor class. Crypto owners from around the world can find your organization and donate thanks to the platform. Considering an anonymous donor recently sent $10 million in crypto to a faith-based organization, it seems almost reckless to not accept digital currency donations.
3. Technical Integration
Did you know that 89% of companiesdeal with tech integration issues? The same is true for many churches and nonprofit organizations. You could find a tool that solves a variety of problems, but if it doesn’t integrate with what you’re already using, you’ve got a new problem on your hands. Unfortunately, solving that problem involves either forgoing the new tool or altering your current system.
This is why tech integration is easily one of the best aspects of BitDonate. The offering integrates with the majority of platforms, and this makes it simple to immediately gain the benefits offered by BitDonate. Whether you want embedded forms on your donation page, easy data migration from church management software, or custom plugins, this platform has you covered.
It’s this ease of integration — along with many of the other best aspects of BitDonate — that motivated the partnership with DonorWERX. By combining a cryptocurrency donation platform with our existing donor engagement framework and digital giving tools, we can offer our ministry partners everything necessary to succeed in the modern world.
4. Automatic Fiat Conversion
For most churches and nonprofits, their biggest hurdle to accepting crypto donations is an eWallet. However, what if a tech-savvy parishioner knows how to set up a crypto wallet on their own? Would it be better to simply go that route and remove the proverbial “middle man”? Unfortunately, doing so takes the fiat conversion feature out of play.
This is easily one of the best aspects of BitDonate. Rather than an eWallet that allows your church to hold crypto, any donation you receive immediately gets converted to normal currency. Why is this so beneficial? Well, perhaps you missed the news on January 21, 2022. Cryptocurrencies lost $205 billion in value in just 24 hours.
If something like this happens again, a donation of $1,000 on Monday may be worth $500 or less on Tuesday. Holding digital coins as an investment is extremely risky — particularly for churches and nonprofits. Having these donations converted to regular money at the current exchange rate is ideal. That’s why the immediate fiat conversion feature is easily one of the best aspects of BitDonate.
5. Donation Reports
When a church has the goal of increasing giving, any large gift is cause for excitement. Unfortunately, this isn’t necessarily indicative of things getting better overall. You need to follow the numbers to see if your efforts are working, and this requires in-depth reports when accepting donations. Fortunately, that’s exactly what BitDonate offers.
By using the information provided in these reports, you can track which of your efforts are successful and which needs improvement. This is another of the best aspects of BitDonate that stood out to the professionals at DonorWERX. A primary component of our framework is Impact Reporting, and in-depth data is exactly what’s needed for these reports.
For instance, what if you saw an increase in crypto donations after a Facebook post — but nothing following an email announcement? You can use this data to figure out what you did right on social media and why email fundraising isn’t working. With that kind of information, you can improve your giving strategies moving forward. You can find it online or even in the BitDonate app.
How DonorWERX Can Help
The introduction of paper checks, credit cards, and online giving for churches were all monumental in their own right. However, none of these giving options opened up the massive new donor class that comes with crypto donations. Digital currencies have created brand-new opportunities for the ministry, and it’s time for church leaders to take advantage.
While this list presents some of the best aspects of BitDonate, it’s far from exhaustive. And when combined with other tools provided by DonorWERX, it offers the possibility of significantly increasing revenue in your ministry. Don’t let your church fall by the wayside as others excel in this giving trend. Visit our Get started page today to access all the donor tools you’ll ever need.