Wikipedia Donations Can Now Be Made in BitcoinBy: Josh Wolford - July 30, 2014
If you’ve been putting off donating to the Wikimedia Foundation, waiting to do so in a cryptocurrency, today’s the day.
The Wikimedia Foundation, which is responsible for the internet’s largest encyclopedia, Wikipedia – as well as Wiktionary and Wikimedia Commons (among others) – has just announced that it now accepts Bitcoin. This is the 13th method of donation now accepted by the foundation.
Wikimedia’s Lisa Gruwell says that this option was a frequent demand of the community.
They’ll get help from Bitcoin wallet Coinbase, who will make it so Bitcoin donations are immediately converted into US dollars.
“During this review, we identified a new way to work around past technical challenges, as well as to minimize the legal risks of accepting Bitcoin. Using Coinbase, a Bitcoin exchange, we’re able to immediately convert Bitcoin to U.S. dollars, requiring minimal technical implementation on our end. Since we now also have guidance on how to account for Bitcoin, there is a clear understanding of how to legally manage it,” says Gruwell.
Coinbase is also offering zero procession fees for non-profits.
“The Internet has made it easier for non-profits to operate by enabling them to increase geographic reach and reduce the overhead required to fundraise. Adding bitcoin as a donation option is a natural next step for non-profits because it eliminates one of the most significant costs remaining —payment processing fees. In response, we’re proud to announce zero processing fees for all registered non-profits accepting bitcoin through our merchant tools. This means that any non-profit accepting bitcoin through Coinbase will be able to instantly cash out their bitcoin donations for U.S. dollars and receive a daily bank transfer, free of charge,” says Coinbase.
You can hand those Bitcoins over to Jimmy Wales here.