7 Benefits of BitDonate and Why You Should Start Using It Now
Centuries went by without much change in how people donated to churches and nonprofits. It was the introduction of checks that eventually shook things up. People could finally give without needing cash in their wallets. Of course, we’ve come a long way since then. Donors can now donate with cryptocurrency and the benefits of BitDonate are making this option more appealing.
This might sound a bit confusing if it’s the first time you’ve heard of this tool. To put it simply, it allows parishioners and donors to donate with Bitcoin and other digital currencies. Of course, the popularity of crypto donations means there are now multiple platforms that allow this. What makes the benefits of BitDonate stand out among the others?
By the end of this guide, you’ll understand. You’ll also be able to utilize the tool with the existing DonorWERX framework.
1. Uses the Largest Database of Nonprofits and Causes
One of the most significant benefits of BitDonate involves its charitable database. For donors to give your organization cryptocurrency, they first need to find it. Of course, entering your church or nonprofit’s information onto a website can be time-consuming. Fortunately, this isn’t the only way. BitDonate utilizes GuideStar to make your job easier.
What does this mean for you? Essentially, it’s likely that all your information is already accessible to BitDonate. A donor could probably visit the website right now and donate to your organization. That means there could already be funds available to your nonprofit or congregation that simply need to be withdrawn.
Integrating the GuideStar system simplifies things for you and your donors. This makes GuideStar one of the best benefits of BitDonate.
2. Simplified Sign-Up Process
Since GuideStar has the largest database of nonprofits, churches, and charities in America, there’s a good chance your organization’s information is already there. So, what’s left for you to provide when you sign up? Honestly, not much. You can claim your free crypto wallet on the website in literally less than two minutes.
Easy sign-up is certainly one of the most popular benefits of BitDonate. Fortunately, a simplified process is far from the only related advantage. The ease with which you can sign up means that — if it turns out that crypto donations aren’t viable for your group — you will have lost nothing. You’ll only need to submit verification information if you withdraw funds.
If no one ever donates to your crypto wallet, you can chalk up the two minutes spent claiming the wallet as a lesson learned.
3. Ministries and Nonprofits Receive the Actual Value
One of the benefits of BitDonate that stands out is the value churches and ministries receive. This isn’t a reference to low fees or transaction costs — which we’ll delve more into later — but rather the value of the funds received. The simple fact is that the price of cryptocurrency could suffer massive drops at any time.
Wouldn’t it be horrible if someone donated $1,000 worth of Bitcoin that ended up losing one-third of its value overnight? Fortunately, this isn’t something you have to worry about with BitDonate.
Once someone gives to your church or nonprofit, the digital currency they donated is immediately transferred into real cash.
That means the crypto bubble could burst tomorrow, but it won’t affect your donations in the least. Even if a certain digital coin loses all its value in one day, your church or nonprofit will receive the entirety of the initial donation.
4. Excessively Low Fees
It would be great if one of the benefits of BitDonate was free use. Unfortunately, nothing worth having in this life comes free. Luckily, that doesn’t mean it can’t come cheap. While BitDonate does charge a transaction fee, it’s only three percent of the total donated. This is right on par with PayPal’s donation fee — and you can’t accept cryptocurrency through them.
This makes BitDonate stand out among other crypto donation platforms. Other than the 3 percent transaction fee, you’ll pay nothing else. There’s no subscription cost to use the platform. You’ll never pay a penny for merely setting up a digital wallet. You’ll encounter no hidden fees based on gift amount, “maintenance,” withdrawal size or anything else you could imagine.
One of the best benefits of BitDonate is its recognition that you should receive your donations. More important, though, is that you don’t have to pay subscription charges for a service you might decide not to use later on.
5. Easy Integrations With Other Platforms
Integrating with GuideStar is a major reason BitDonate stands out, but that’s not where the integration ends. The platform can be technically integrated with the majority of giving platforms. This means no massive overhaul of your current tools is necessary. You can keep going with what already works for you while gaining one of the largest crypto donation platforms.
Easy integration is one of the chief benefits of BitDonate and why it’s now part of the DonorWERX framework. DonorWERX also integrates with OneChurch, ACSTechnologies and more. Our goal is to provide your church or nonprofit with tools that won’t interrupt what’s already working for you. That’s why it’s now easier than ever to use BitDonate.
6. Several Cryptocurrencies To Choose From
There is no single cryptocurrency that everyone invests in. This offers a variety of benefits, but it can also make donations difficult. After all, what if you start accepting Bitcoin but your congregants or donors mostly invest in Ethereum? This is another significant benefit of BitDonate: they accept a variety of crypto coins.
You’ll find that the platform allows donors to use the majority of the most popular cryptocurrencies. These include Bitcoin, Tether, Dogecoin and at least a dozen others. Fortunately, many of these digital assets are considered the most stable virtual coins available.
7. Get Much More With DonorWERX and BitDonate
If you’ve played a part in donor engagement in the past few years, you’ve probably heard of DonorWERX. Our giving framework features tools for messaging, donor outreach, online donations and more. Thanks to the growing interest in crypto donations, though, we now offer the many benefits of BitDonate to our clients as well.
If you’re ready to take giving to the next level, one phone call with DonorWERX is all it takes. With just a single conversation, we’ll explain everything you need to know about crypto donations and provide three complimentary tips that will increase giving by at least 10 percent in six months. Schedule a Discovery Call today and access more than just the benefits of BitDonate.