Accepting donations is an awesome source of additional income for any online project. Whether you have a personal blog or a channel on Youtube with an army of followers, say just a word, and they’d be happy to support your project.
Moreover, donations have found their way into commercial structures and non-profit organizations as well. Let’s review 3 scenarios when a company may raise funds in such a way.
3 donation use cases
- Non-profit projects. Bloggers, streamers, charities, educational institutions, etc. – they are not focused on making profits and they need donations for living anyway. Instagram or YouTube bloggers are a very good example of such a non-profit project. Such a blog does not bring you profits, but your followers may be sad if you stop adding new content there. Ask them for a donation so that the new posts will be added more often.
- Profit-oriented projects and businesses. You can make money on selling goods and services and at the same time offer some product for free in order to gain the trust of your clients. Why not asking for additional support with crypto donations? For example, you can conduct a free webinar and ask your visitors to donate if they like it.
- Crowdfunding. Typically, ICOs with strong technical teams develop smart contracts, issue tokens and conduct token sales in order to raise funds for developing their projects. However, if your budgets are low and your team is small it may be a very costly scenario. The least expensive out-of-the-box combo (smart contracts from MyWish and BestRate ICO payment tool) will cost 4 ETH (~$900 as of mid-October 2018). Developing a flexible solution to fit all your needs would be much more expensive. This is where you may seek for additional funding via such projects as KickStarter.
Painful donations in FIAT
If you’ve decided to accept donations in traditional currencies you may come across 2 major of issues.
- Regulation. You will need a bank account, and bank representative may ask you inconvenient questions about the sources of your money, especially when the transferred sums rise to a significant volume.
- Geography. The audience of your blog or a Youtube channel may be located in any part of the world, and sending money overseas is not an easy task to accomplish.
The solution to both of these issues is crypto. With cryptocurrencies, you may not fear that your account will be blocked and you can accept donations regardless of where you are located.
If cryptocurrencies’ volatility makes you anxious you can accept payments in a stable coin and never fear that you can lose your money.
How to get crypto donations for your project
In most cases, projects that want to raise crypto donations simply place their BTC or other crypto wallet addresses on their websites. This is very inconvenient, as users may have other cryptos at hand that they want to donate while the project gives only a limited number of wallets.
Here’s how Bitcointalk, the godfather of crypto-projects, raises donations:
Coinmarketcap, one of the most famous websites with objective statistics and ~100 million monthly visits places the addresses for donation in the footer.
Another problem with such donations is that due to anonymous nature of cryptos you will never know who exactly sends you donations. Also, as the market is now at the downtrend and cryptocurrencies are still pretty volatile, you may simply lose money. Luckily, these issues are resolved by BestRate Payout.
BestRate Payout facilitates crypto donations
Here at BestRate, we have developed a tool that resolves all these issues and allows you to accept donations in FIAT and crypto.
With its help, you can accept donations in FIAT and 80+ cryptos. It doesn’t matter which coin a user has, it will be converted to TUSD at the best rate and sent to your wallet. TUSD or crypto-USD is a stable coin with a fixed 1:1 rate to USD regardless of what’s going on with other cryptos at the moment. Thus, you will be protected from the market volatility.
The whole process is very simple for non-tech-savvy users which will lead to increased conversion. We’ve already described in details all the benefits that our product gives in one of the previuos articles.
Integration with a huge streamers’ community Twitch is on our nearest roadmap. Also, we plan to develop plugins for most popular CMS, such as WordPress, Joomla and Drupal.
BestRate helps Warframe to raise donations
Recently, our tool caught the eye of a huge online game items shop Warframe.market.
This shop has around 20 million visits per month, around 10,000 followers on Discord and over 10 thousand visitors on the website at any given moment of time.
With the help of our tool, Warframe can now raise crypto donations from this huge army of fans. We are sure that our convenient tool will help the project raise much more crypto donations.
Here’s what the Warframe donation page looks like:
How to set up our donation widget
- Set up the Metamask wallet if you haven’t done this yet. Get your ETH wallet address.
- Sign up for BestRate Payout for free.
- Specify your personal settings.
BestRate Payout Settings
- Page address. Specify your personal link to share.
- Your Name / Company. The name you want people to see when they click on your personal link.
- Profile image. Upload your photo or logo.
- Text on page. The description that will be displayed on your personal page. If you raise funds to buy a pizza, you should surely let everyone know about it. 🙂
- Your ETH wallet address. Copy-paste it from your Metamask wallet. This is where the funds will be forwarded to.
- Default currency ticker. Which currency will be selected for the payment by default.
- Default amount. Which amount will be displayed for the payment by default.
All the changes will be displayed on-the-fly. Don’t forget to press “Apply” button to save the settings. As you see, it’s all simple as 1-2-3.