Since today it is possible to donate your Bitcoins to (almost) all Charities in the Netherlands. Crowdfunding Startup Whydonate makes it possible to donate directly from your Bitcoin wallet to a charity. The Bitcoins are converted at the current rate and paid out to the charity in Euros. Donating bitcoins has never been easier!
Table of Contents
1. Whydonate and donating Bitcoins
Whydonate launched the donation crowdfunding platform Whydonate.nl in 2014. This platform makes it possible to collect online donations through crowdfunding. The platform currently has about 100,000 users consisting of donors and charities from all over Europe. By offering this Bitcoin payment method, it is now even easier to receive and do international donations. Niels Corver, co-founder of Whydonate, emphasizes that the Bitcoins are converted directly into euros and deposited for the charity. “That saves a lot of hassle and you know immediately where you stand.”
“The Bitcoins are converted into Euros for the charity, which saves a lot of hassle and you know exactly where you stand”
2. How does it work?
After the donor has chosen the desired charity and donation amount, he can select the payment methods ‘Bitcoin’. The amount to be donated is converted into the correct number of Bitcoins at the current Bitcoin-Euro exchange rate. The Bitcoins are settled by means of a QR code and a Bitcoin Wallet. After a successful payment, the charity will receive the amount in Euros on their account. The charity therefore does not need its own Bitcoin wallet. The Bitcoin-Euro exchange rate is determined at the time of the transaction. The amount and the payment are guaranteed, so the charity does not run a financial risk or suffers from the strongly fluctuating Bitcoin-Euro exchange rate. Wondering how it works? Make a donation on the page of the Red Cross and select the payment method ‘Bitcoin’.
3. Which charities are involved?
With the Whydonate platform you support both local foundations and larger charities, such as the Red Cross, Stichting Vluchteling, Aidsfonds, KWF Kankerbestrijding and Médecins Sans Frontières. In total 1,600 charities can be chosen. Charities that also want to receive Bitcoins can register for free on Whydonate.nl.
4. Dangers of donating Bitcoins for good causes
The biggest danger of a Bitcoin is its value. One day you have a fortune in your hands and the other day that fortune is halved. If you think you are financing a project, this may just turn out wrong if the Bitcoin-Euro rate falls significantly. This makes it very difficult for a good cause to use Bitcoins as a means of payment to realize projects. The solution to this problem is the direct conversion of the Bitcoins to Euros. This way the charity knows for sure what has come in and can therefore be issued.