Wikipedia Accepting Bitcoin Cash Donations via Bitpay

Users from all over the globe will now support the widely popular free encyclopedia Wikipedia with bitcoin cash donations via Bitpay. The non-profit model and global nature of the organization means it has to find a universal and cost-effective payment solution, and cryptocurrencies are an apparent alternative.  

Accepting Bitcoin Cash Is A Natural Step

The Wikimedia Foundation, the nonprofit that operates Wikipedia and similar free knowledge projects, has partnered with Bitpay, the popular cryptocurrency payment processor, to accept bitcoin cash (BCH) and bitcoin core (BTC) donations. The Wikimedia Foundation has already been accepting BTC since 2014 via Coinbase but recently switched payment processors to Bitpay and used this chance to expand into accepting BCH.

“Our donors have shown an accrued interest for various cryptocurrencies, thus accepting bitcoin cash was a natural next step,” said Pats Pena, director of payments and operations at Wikimedia Foundation. “We settle for donations globally, and we strive to produce an outsized variety of donation options. It’s vital that we can get international donations processed in ways that are efficient and cost-effective.”

Cheapest Payment options available

Bitpay works with several large non-profits to allow them to just accept cryptocurrency donations. The company reports that donations have increased dramatically in the last couple of years, particularly at the end of the year as individuals look for tax benefits. The service has reportedly processed many multi-million dollar donations to non-profits in the recent past and expects that to continue in 2019.

“Bitcoin and bitcoin cash are one of the most affordable payment options available so more cash goes to charity instead of paying fees. Wikimedia does so much good around the world that it's a privilege to assist them raise money,” said Sonny Singh, Bitpay chief commercial officer.

Bitpay recently reported robust performance for 2018. Throught the year, the service processed over $1 billion in payments for a second year and set a new record for transaction fee revenue by adding new customers. The company’s B2B operation also had a record year as it grew nearly 255 percent from 2017.