Most churches have realized online giving is essential, but few recognize the many benefits of accepting crypto donations. It’s time for this to change. Benefits of Accepting Crypto and Bitcoin Donations
Technology has led to significant changes in recent years and this is as true in the ministry as anywhere else. One major area of advancement has been tithing — where parishioners quickly shifted from the offering plate to online giving. Bigger things are on the horizon, though and it’s time to recognize the many benefits of accepting crypto donations.
Yes, cryptocurrency is a very complex technology that 98 percent of people don’t fully understand. Even so, investing in crypto assets has recently escalated. Many church leaders dragged their feet when online giving began to grow, and their ministries suffered because of it. These leaders mustn’t allow this to happen with crypto giving, and that’s why DonorWerx now offers crypto donations.
Once you understand the benefits of accepting crypto donations, though, there will be no question that your church should get on board.
More People Own Cryptocurrency
When credit cards first appeared on the scene, not many people used them. This means the benefits were minimal for churches and nonprofits that accepted such a form of payment. That has changed drastically over the years and now, it would be folly for any church, organization, or nonprofit to not accept credit and debit cards.
The same is now happening with cryptocurrency. About 16 percent of Americans already own some of these digital coins, but experts predict another 50 million citizens will join this group by 2023. With so many people jumping on the bandwagon, the benefits of accepting crypto donations become quite clear. More people will have this form of currency to donate.
The crazy thing is that this shows no sign of slowing down. Congressional hearings have taken place regarding the future of Bitcoin and other cryptoassets. Major corporations now accept a variety of digital coins as payment. Whether anyone likes it or not, crypto is here to stay. Failing to take advantage of this fact and other benefits of accepting crypto donations would be a major mistake.
Offers Another Way of Giving
Donors want a variety of ways to give. This reality doesn’t come from donors’ desire to give in several different ways. Instead, it’s linked to their desire to give their way. For some people, dropping a few dollars into the offering plate is all they’ll ever desire. For others, using the latest church giving apps is what appeals to them. This decision often comes down to simplicity.
Of course, there are times when different ways of giving come down to necessity. Some people don’t have access to certain platforms. Necessity isn’t often the issue with the benefits of accepting crypto donations, but offering an additional way to give is never a bad thing. There are several situations where cryptocurrency can elicit a gift that otherwise would not have come.
For instance, when someone sells crypto, there is often a bit of residual digital coinage left over. This is known as “crypto dust,” and it often only amounts to a few dollars. With nothing else to do with these digital leftovers, though, the owner of the coins may choose to simply donate the rest. Having a platform like DonorWerx to process these donations for your church is a necessity.
Taking Crypto Donations Is Simple
Let’s say that the benefits of accepting crypto donations are already clear to you. If they’re not, the remainder of this guide will get you there. For now, though, let’s pretend. Let’s say you’re at the point where you would love to accept cryptocurrency in your ministry, but you simply have no way to do it. After all, you need a crypto wallet, a way to process the payment and lots of other technical feats.
In the past, this would have been the end of the conversation for many churches. After all, you can’t very well get the benefits of Bitcoin and other digital currencies if you have no clue of how to accept them. This is where CryptoDonations through DonorWerx (Powered by BitDonate) come into play. Take a moment to look at the simple steps involved:
- Sign up for a cryptocurrency wallet with CryptoDonations through DonorWerx.
- Enter your church or nonprofit information (basic info such as name, location, etc.).
- Claim your crypto wallet. This is automatic when you enter your information.
- Wait for donations and get all the benefits of accepting crypto donations!
It is that simple. You don’t even have to go through a verification process when first signing up. That step will only be necessary when you choose to withdraw funds from your crypto wallet. This means you can sign up in mere minutes and if no one ever donates crypto, you’ll lose out on nothing.
When someone does donate, though, their contribution will immediately convert at the current market price. This means when you withdraw funds, your church will get real money instead of digital currency. That’s one of the other major benefits of accepting crypto donations through DonorWerx. You’ll never have to sell crypto — it’s all handled on the back end!
Low-Cost Benefits of Accepting Crypto Donations
There are processing fees for every form of digital giving a church may use. This is true with crypto donations as well. With CryptoDonations through DonorWerx, though, you’ll only see a three-percent fee. There are no hidden costs, and there are no monthly or sign-up fees to worry about. If you claim your crypto wallet and never receive donations, you’ll never spend a dime.
If a parishioner has a few dollars in crypto dust laying around, though, the fee you pay to receive it is next to nothing. For instance, a donation of $100 in crypto dust will result in a fee of only $3. The rest goes directly to your church so you can do the work of God. And if doing His work isn’t one of the best benefits of accepting crypto donations, we don’t know what is.
Crypto Donors Give More
When looking at the benefits of Bitcoin and accepting crypto donations, one of the biggest is also one of the simplest to understand: crypto owners give more. We know this because 45 percent of crypto owners donated more than $1,000 during 2020. Only 33 percent of the non-crypto-owning population donated a similar amount. This is significant.
It’s hard to say exactly what leads to increased giving among crypto owners. Like cryptocurrency, though, we don’t need to fully understand. We simply need to respond appropriately to the reality we’re in. The benefits of accepting crypto donations are many, but gaining access to a more generous subset of donors easily stands out.
And when you perfect your messaging with the DonorWerx Framework, these contributions can take your ministry to the next level.
Big Returns on Crypto Mean Big Giving
If you read an article about the benefits of Bitcoin donations a decade ago, there may not have been much to be excited over. A donation of one Bitcoin in July 2010 would have been worth less than $0.10. What if you held onto that Bitcoin, though? In November 2021, it would have been worth more than $67,000. This is one of the most exciting benefits of accepting crypto donations.
Of course, your church receives real money rather than crypto. How could a massive return help in that situation? By allowing crypto owners who hit it big to give back in a big way. If a member of your church sees a significant profit from crypto, they’d typically have to sell it and pay fees just to donate. These fees are non-existent when they use BitDonate.
This means your congregants can give generously without the headache of fees, selling on exchanges or the many other issues involved with transferring crypto. Even better, your church can receive those funds without similar headaches.
Access All the Benefits of Accepting Crypto Donations!
If cryptocurrency seems confusing to you, you’re not alone. Whenever someone talks about the basics of Bitcoin, blockchains, tokens and other crypto terminology, it’s easy to get lost in the jargon. Fortunately, you don’t have to be an expert in crypto donations for your ministry to take advantage of them. You can do so without any understanding of the technology at all.
DonorWerx has partnered with BitDonate to make this process simple for your church. The benefits of accepting crypto donations are many and fortunately, it’s not hard for your ministry to get involved. Visit our Crypto Donations Page today to get your free crypto wallet in just a matter of minutes and you’ll see just how significant this tech advancement can be for your ministry.
Email teaser: It seems like technology constantly evolves in leaps and bounds. One way ministries have seen this play out is in how people give to the church. For instance, you’ve likely heard that folks are tithing with cryptocurrency. Even if you don’t fully understand the technology itself, it’s important to remember that your understanding shouldn’t dictate acceptance. There are many benefits of accepting crypto donations, and in the attached resource, we lay them all out in an easy-to-understand way.