Like it or not Bitcoin and Altcoin trading is the fastest growing sector in finance and investing. If you have not seen it in the news, or heard one of the hundreds of stories of millionaires being made from trading it, you will. It has become the new dot.com gold rush of the modern day. It has seen some of the most epic ups and downs in recent months.
Over the past ten years, Bitcoin has made many millionaires and experts feel that the online coin sector is only starting its revolutionary path of exponential growth as an international monetary exchange.
One main theory as to why: is as the world has become more connected, needs for higher speed transferring of funds, security, privacy, and programming improvements have also grown. In addition to the expanding international demand for corporations and individuals to have alternative currencies to speed up trade, global instability, political friction, wars, and lack of consumer confidence in many developing countries has also increased. Thus, creating a global environment conducive to creating a number of new alternative cryptocurrencies, and having them sold, traded, and held as hopeful investments. In addition, the stories of early adopters who made millions continues to drive market hopes – as new investors look to also gain and reap considerable returns not traditionally available. Add in the fact most traders of cryptocurreny do not understand the technology behind what they are investing in, opens the door to false claims, crime, and instability in the market. Thus, many experienced traders recommend to new investors to only focusing on the top most traded cryptocurrenies by volume.
While the cryptomarket is a bubble, (as historically nothing this popular sustains this amount of continued growth forever; and will always see significant market correction), it is certainly here to stay and is real. While highly debated as to its legitimacy and global future, it is likely that a select few of the currently traded currencies will indeed become trusted over the years to come. Governments around the world, Wall Street, Goldman Sachs, and even Facebook are currently looking at ways to tie in Cryptocurrencies and or review ways to consider incorporating this new heightened demand.
Many nonprofits have been asking whether or not they should accept Bitcoin or another Altcoin for donations. This strongly depends on your donors and your ability to capitalize on the trend. The individuals using the coins are mostly early adopters, but this is changing and the act of the trade is becoming more mainstream with each passing day. Because of this, more and more opportunity exists for nonprofits to reach (and develop as donors) the populations who have gained windfalls from the rise of these currencies. As each needs to find ways to cut the immense taxes from their investments, for savvy organizations that know how to reach cryptotraders there is a windfall of donations coming.
An incentive for nonprofits to accept Bitcoin or Altcoins is that premier digital currency payment processors like Coinbase, do not charge processing fees for all digital currency donations to 501(c)(3) nonprofits. If a donor wishes to donate Bitcoin or Etherium or another coin, for example, the organization receives the entire donation. This is the same incentive for the cryptotraders who benefit from donating their winnings prior to transferring their funds and paying more fees.
It is quite simple to get started if you want to start accepting alt currency. Simply go to Coinbase or Binance and signup. Then if you create a new site page for your nonprofit or simply add the functionality with a “Bitcoin Accepted” logo on your donation page. You may also with to consider advertising on Bitcoin/Altcoin publication like Bitcoinist or Cointelegraph with banner ads to attract donations. You may also consider sending out an e-blast to any of your tech savvy donors and remind them of the tax breaks and educate them there are no fees to donate to you.
Other individuals and organizations are also earning funds via their referral programs. To explore this we set one up. For example use the Referral ID 16028292 (for Foundation List’s account) at Binance and or click this link to get a bonus on your first deposit. Under the program for all people you later refer (with your ID) you gain commission on the people you refer and the trading that they do. Thus, if you set up an account, and then get others to trade and signup via your referral code your organization benefits. There are individuals that have made over 76 Bitcoin just for referrals. That is a sum equal to 1.1 Million US Dollars.
The North American Securities Administrators Association recently released a warning for Main Street investors regarding the risks associated with cryptocurrencies and Initial Coin Offerings (ICOs). The warning was followed by a statement from the US Securities and Exchange Commission (SEC) that commended and reiterated the NASAA’s message. In the future of electronic transfers and coins we are currently in the wild-west and or a time that could be compared to the gold rush. No matter, how it ends there is considerable upside that can be found in the ride, but only if you choose the correct currency to bet on. It is our advice to consider ways to benefit in the trend without using nonprofit assets as all of the investments are very high risk no matter what media or social media reflects.
Please Note: This article is not investment advice, and we would highly caution any entity against using its own funds to invest in Cryptocurrencies.