What Is BitDonate — And How Can It Help Your Church Succeed?
If you’ve paid attention to the news, you know that cryptocurrency is all the rage these days. What once seemed like a temporary fad has grown into its own decentralized economy. This has led to significant giving with these digital coins and churches must pay attention to this shift. So, what is BitDonate to the church that’s considering crypto giving — and can it help?
The truth is that BitDonate is only one option for ministries to accept crypto donations. Any good steward knows that considering all potential tools for your church is vital. It’s important to ask why certain resources are better than others. While you should certainly do further research into crypto donations as a new way of giving, here’s everything you need to know about BitDonate.
And, if you decide it’s the right direction for your church, DonorWERX can help you get started.
What Is BitDonate?
BitDonate is a modern donation platform that allows donors to give with cryptocurrency. Before delving into BitDonate itself, it’s essential to understand why churches should accept crypto. First, more people have started giving in this manner. More importantly, 45 percent of donors who gave cryptocurrency in 2020 donated over $1,000. This number was only 33 percent among others.
The owners of BitDonate were among the first to see this trend coming. That’s why they set up an infrastructure that allows donors to give digital coins to any of their favorite nonprofits, churches, or causes. Donors can choose from over two million ministries and organizations since BitDonate utilizes the GuideStar platform.
What is BitDonate going to do for the churches that use it? To put it simply, it creates a devoted crypto wallet where anyone can give digital currencies. More importantly, it does this without requiring any tech experience on the part of ministry leaders. Cryptocurrency is the new way of giving and BitDonate makes it easy for churches to get at the forefront of this trend.
Benefits of BitDonate
The most important benefits of BitDonate relate to increased giving. Studies showed crypto donations increased by nearly 1,600 percent in 2021 and the average donation was almost $10,500. This is 82 times higher than the average cash donation. Of course, you can garner similar benefits from any crypto-giving platform. What is BitDonate’s major appeal over its competitors?
There are several advantages to consider. These include:
You Get What Is Donated
A church may consider itself lucky if they have a tech guru who can handle crypto donations for their ministry. After all, isn’t it better to cut out the “middle man”? What is BitDonate’s advantage over such an approach? It’s easy: you get the exact value of the gift through BitDonate. It may seem strange that this could work any other way but consider the following scenario.
Imagine someone donated $500 in Bitcoin to a congregation on January 20, 2022. Just one day later, this digital currency dropped over 10 percent in value. Suddenly, the $500 donation was worth closer to $450. This doesn’t happen with BitDonate. As soon as someone sends coins to your crypto wallet, they’re immediately sold at the market rate.
Crypto is a volatile asset, so a quick sale is ideal.
Unlimited Donations
If you’ve succeeded at motivating increased giving in your church, you don’t want arbitrary limits standing in your way. What is BitDonate’s giving cap then? There isn’t one. We’ve already touched several times on the fact that crypto donors simply give more. This is why it’s so vital that your ministry can accept donations of all sizes.
It doesn’t matter whether someone wants to give their leftover “crypto dust” or reduce their tax burden by donating $10,000 in Dogecoin. Either way, BitDonate has the infrastructure to accept the gift and convert it into usable currency for your ministry. And as we’ll discuss later, you won’t pay a thing if donors fail to contribute any crypto at all.
Comprehensive Reports
This guide has hopefully answered the question of “what is BitDonate” as well as it can be answered. One thing that most people overlook when reviewing such tools, though, is the availability of comprehensive reports. The DonorWERX framework puts significant weight into metrics, results, data, and impact reports. This is no different with BitDonate.
What is BitDonate doing with all the data it collects? It supplies it to your church. This allows you to track your efforts, see what’s working and what’s not, and better plan future strategies to increase giving. Without this information, you’ll never truly know just how much crypto donations are doing for your ministry.
What Is BitDonate’s Fee?
Whenever you’re choosing a product or service to use in your ministry, it’s not enough to just look at the benefits it offers. The fact is that there are many other considerations. For instance, you would garner many benefits from buying the highest-end church van on the market. Of course, these benefits would be tempered by how much you had to pay.
This leads to the big question: what is BitDonate’s fee? Fortunately, this is another area where the platform stands out over its competition. There are no fees to sign up. Church Succeed are no fees to withdraw your ministry’s money. There are no monthly or subscription fees. BitDonate simply takes 3 percent from every donation that’s sent your way.
This means that — if a donor transfers $100 to your church’s crypto wallet — you’ll get $97 in the ministry bank account. You’d be hard-pressed to find a better fee in the industry. It’s on par with services like PayPal that don’t even allow crypto donations. Because when you get down to brass tacks, it’s churches and those they serve that should benefit from contributions.
How DonorWERX Can Help
BitDonate is committed to ministries, nonprofits, and causes. All the tools you need to accept crypto donations are combined into a single resource. That’s why the giving experts at DonorWERX didn’t hesitate to partner up with this digital giving platform. What is BitDonate to your church? It’s a powerful tool — but when integrated with DonorWERX, it’s so much more.
We’ll set up your crypto wallet for you! The entire sign-up process takes less than two minutes and you don’t need your ministry’s finances to Get started. Far too many churches floundered during the pandemic because they didn’t keep up with giving trends. Let us help ensure this doesn’t happen to your parish. Visit our Get Started page today to get the ball rolling.
Email teaser: If you’ve lived under a rock the past few years, you may not know that cryptocurrency has exploded in popularity. Tens of millions of Americans own crypto, and this number is expected to grow in the coming years. Many have already begun donating with these digital coins, but how exactly can your ministry take advantage of this? Fortunately, there’s a tool known as BitDonate. Of course, you can’t judge a resource by how witty its name is. That’s why we’ve included a guide to understand BitDonate and what it can do for your church.
