INFOGRAPHIC: HOW BITCOIN IS CHANGING THE FACE OF NON-PROFITS

How Bitcoin Is Changing the Face of Non-Profits
By KeriLynn Engel, Who Is Hosting This, 29 December 2014.

As a tech-savvy person, you’re familiar with the huge potential of cryptocurrency.

And you’re not alone: since the release of Bitcoin in 2009, it’s been adopted by millions of people around the world. Today there are over 13 million Bitcoins in circulation, with each valued at over US$300.

But if you’ve tried to talk to anyone about Bitcoins, you’ve probably also realized that most people don’t have a clue what Bitcoins are. In fact, less than 30% of Americans have ever even heard of Bitcoin, let alone know what how it works or why anyone should use it.

So it’s understandable that the business world hasn’t leapt at the opportunities that Bitcoins present. You can’t go to the movies, out shopping, or eat at a local restaurant and expect to pay in Bitcoins (yet).

That’s why it’s surprising - and a little befuddling at first - when you realize that there’s another sector that’s taking quickly advantage of the benefits of cryptocurrency: the non-profit sector.

But when you take a closer look at the reasons, it makes a lot of sense.

When you’re a non-profit struggling for enough funding to support your mission and operations, you need to take advantage of every opportunity that arises. For example, one big reason Bitcoins are becoming popular among non-profits is because of transaction fees, which in many cases are significantly lower with Bitcoins than when receiving donations by more traditional means. And while big businesses may not have to worry about such small details, every penny counts when it comes to non-profit donations.

When you look at all the benefits to non-profits, it’s not surprising that many non-profits have already set up to accept Bitcoin donations, even when many of their donors and constituents may have never even heard of the cryptocurrency.

As one of the minority who’s actually familiar with Bitcoin, you know all the potential that lies behind it - though maybe you’ve never given thought to how all that potential could apply to non-profits as well.

Check out the graphic below to find out exactly how non-profits are taking advantage of the cryptocurrency revolution, and just what difficulties they’re coming up against.

Infographic sources:
1. Thank You For Your Bitcoin Donation
2. An Alternative Way to Help Antiwar.com
3. Building classrooms for quality education
4. When every bit count$
5. Frequently Asked Questions (Bitcoin.org)
6. BitGive Raises Over $11k for The Water Project & Over $65K in Founding Donors Campaign
7. Charitable Campaigns
8. BitLegal
9. Bitcoin and Litecoin Top Sources of WikiLeaks Donations
10. Price (CoinDesk)
11. United Way Becomes Largest Non-profit to Accept Bitcoin
12. About Us (Children's Well-wishers Network)
13. Massive returns on early Bitcoin investment helped WikiLeaks survive
14. Bitcoin’s future: Hidden Flipside
15. Bitcoin Charity Admits Its Biggest-Ever Donation Was Likely Stolen Money
16. History of Bitcoin
17. Donate to Khan Academy
18. Bitcoin Prices Top $1,000
19. Pathways to Education now accepts bitcoin (btc) donations
20. Banking on Bitcoin: Non-profit Success Stories Start to Emerge
21. About Freedom of the Press Foundation
22. Freedom of the Press Foundation Publishes Leaked Audio of Bradley Manning’s Statement
23. Emahungu Primary School
24. Access to Safe Water Changes Lives
25. Where We Work (The Water Project)
26. You Can Now Donate to Wikipedia in Bitcoin
27. Study: Online Marketplace Silk Road sells £1m worth of drugs each month
28. BitBeat: United Way Adds Bitcoin as Conduit for Donations

[Source: Who Is Hosting This.]