No fees, but also takes some extra staff time (additional bookkeeping/accounting work is involved), so there is some cost to it. If we got more BTC donations it would reduce the time cost per donation, due to effects of batching, but as it stands now, they are usually processed (record added to our donor database and accounting software) on an individual basis.
One thing that takes a significant amount of time is when someone mis-pays a Coinbase invoice (sends a different amount of BTC then they indicated on the Coinbase form on our site). Coinbase treats these payments in a different way that ends up requiring more time to process on our end.
All that being said we like having the BTC donation option, and it always makes me happy to see one come in. So if making contributions via BTC is your preference, I’m all for it :)
What about Bitcoin?
No fees, but also takes some extra staff time (additional bookkeeping/accounting work is involved), so there is some cost to it. If we got more BTC donations it would reduce the time cost per donation, due to effects of batching, but as it stands now, they are usually processed (record added to our donor database and accounting software) on an individual basis.
One thing that takes a significant amount of time is when someone mis-pays a Coinbase invoice (sends a different amount of BTC then they indicated on the Coinbase form on our site). Coinbase treats these payments in a different way that ends up requiring more time to process on our end.
All that being said we like having the BTC donation option, and it always makes me happy to see one come in. So if making contributions via BTC is your preference, I’m all for it :)
They use coinbase, so according to this it’s free up to $1 million.
It should be free, period. Coinbase doesn’t charge fees for registered non-for-profits.