Crypto donations are a simple option for individuals and businesses to get contributions from their community and society to develop, extend and reach people. Blockchain’s nature makes such donations accessible for everyone with an internet connection. What are the benefits of crypto donations for both the recipients and donors? Who can receive and accept them, and how? Let's Spectrocoin shows you.
Why Consider Accepting Crypto Donations?
Crypto donations have several advantages for you and your donors.
Privacy
Crypto donations allow donors to stay anonymous and protect sensitive private data since blockchain encrypts data. In contrast, credit or debit card donations usually suffer from thefts of card credentials and personal details, making people refrain from donating.
Fast settlement
As a receiver, you benefit from immediate blockchain transactions that usually take several seconds, depending on the network and its congestion, and can quickly make donations work for you instead of waiting for up to three business days.
Low fees
Blockchain transactions are usually associated with low fees except in uncommon situations of surged demand causing fee growth. Considering the cryptocurrency network characteristics, you can specify cryptocurrencies to accept and thus control the costs you are willing to bear.
Global
Crypto donations help reach users globally since blockchain transactions are almost unlimited and accessible anywhere with an internet connection, unlike bank transfers which have more restrictions.
Who Can Accept Crypto Donations?
We believe cryptocurrencies unlock financial freedom and create an accessible financial ecosystem. Unfortunately, some use them for illegal activity. SpectroCoin is being compliant with AMLD5, and we prioritize partnerships with trustworthy companies and individuals.
The list of companies and individuals who can receive crypto donations is not limited to only charity and non-profitable organizations. It can be anyone.
Thus, content creators such as bloggers, podcasters, YouTubers, TikTokers, streamers, writers and others can accept donations from their community to extend their projects, reach new audiences, create more content, and so on.
Political parties and candidates can also receive contributions to their election campaigns. The current candidates in the US presidential election are now accepting donations in cryptocurrencies such as Bitcoin and Ethereum.
Game developers can fundraise from the gaming community to launch a new project or improve previous versions.
Musicians and artists can get paid for their art and inspiring people around in the form of crypto donations considering that making money is usually unfair while promoting on streaming platforms or Web2 social media.
You can get donations in cryptocurrencies through any activity.
How to Receive Crypto Donations?
SpectroCoin provides a simple solution for accepting cryptocurrency donations through an easily integrated payment button.
The payment button is a pre-pared HTML code you can embed into your website or blog, customizing the style of the button and payment options.
You must have a verified individual or merchant SpectroCoin account to create the payment button. Individual accounts can be used by clients representing themselves. They can be bloggers, streamers, podcasters, writers, YouTubers, or other content creators and people without a particular company or organization. All businesses should operate only through merchant accounts.
The payment button can be added to a website using one of the plugins we require: WooCommerce, WHMCS, PrestaShop, VirtueMart, Drupal, Magento, Magento2, OpenCart, or Zen Cart.
We support such cryptocurrencies to accept payments through the payment button:
Bitcoin (BTC), Ether (ETH), Tether (USDT), USD Coin (USDC), Aave (AAVE), Basic Attention Token (BAT), Banker (BNK), Binance (BUSD), Chiliz (CHZ), Compound (COMP), Dai (DAI), DASH (DASH), Enjin Coin (ENJ), Euro Coin (EUROC), The Graph (GRT), Holo (HOT), Chainlink (LINK), Decentraland (MANA), Mask Network (MASK), Polygon (MATIC), Maker (MKR), The Sandbox (SAND), Shiba Inu (SHIB), Synthetic (SNX), SushiSwap (SUSHI), True USD (TUSD), UMA (UMA), Uniswap (UNI), PAX Dollar (USDP), Wrapped BTC (WBTC), NEM (XEM), 0x (ZRX).
How to create a payment button
You may take a few steps to create the button:
- Create or login into your SpectroCoin account;
- Visit the “For Merchants” page and choose “Integration tools”;
- Pick the “Payment Buttons” and “Create button.”
Here you can set up the button:
- name — put a call to action so your donors will act immediately;
- description — tell about the purpose of the donations so people will trust you;
- auto-convert received currency — auto-convert donations to any currency of your choice;
- accept all currencies — you can receive all currencies supported or define those you are willing to get from your donors.
After submitting, you will get HTML codes for buttons of several styles. You can change the background colour, text colour, font family, and font size in the code so that the button will fit your website and brand book. Copy and paste the code to your site’s HTML That’s it!
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