How to use Bitcoin to raise money for Non Profit organisations

All Non Profits organisations pinch every penny to make their organisation work because it is frowned upon for them to take risks and make more money like any other business might do. Until this stigma is eradicated, here’s how to use Bitcoin to raise money for Non Profit organisations and to cut the costs of banks or payment gateways. Instruction below this video.

Dan Pallotta explains in this video how to think differently about Non Profits and the profits they make

  1. Set up a Bitcoin Wallet
    1. Start a Bitcoin wallet where more than one person has access to this wallet and need to take responsibility for the money in the wallet.
      1. Set one up with LocalBitcoins.com, the exchange rates are a lot cheaper here.
    2. Make sure that you add all the levels of security you can to your Bitcoin wallet. This is vitally important!
    3. Once your wallet has been created, you will now be given a QR code that you will use in your video below.
  2. Create a YouTube Video for your fundraising campaign
    1. If you don’t already have a YouTube channel, then set one up.
    2. Record a simple video of you standing on the left or right, telling people who you are, what you’re raising the money for and where it will be spent.
    3. Make sure that you are standing to one side of the video as you will be using the other half to put your QR code up.
    4. In the video, tell people to check that the encrypted code matches the QR code when they scan it so that it matches the number on their screens. This way anyone downloading your video, replacing the QR code with their Bitcoin code and uploading it, cannot abuse your encrypted Bitcoin wallet code.
    5. Upload the finalised video to your YouTube channel.
    6. Click on the sharing option in order to embed the video on your website.
  3. Creating a page on your website and embedding your video
    1. With the embed code from YouTube, add this code to a new page you will create on your website under your fundraising section. Something like example.com/fundraising/hungry-children
    2. Add some text to this page to explain the same thing you are doing in the video.
    3. You can add the QR code to the content of the page so that there is a double place for people to scan your code and send you money.
    4. Now publish your page and use your marketing channels to send it out to as many people as you can.
  4. Converting the Bitcoin back to your own currency.
    1. Until Bitcoin becomes a payment method of everything, you will want to convert it back to your own currency.
    2. To do this, find a trustworth person on LocalBitcoins.com to convert the money back for you. 
      1. Someone with a transaction history of at least 2000 transactions and has 100% feedback score is what you’re after to pay the conversion back into your NPO business account.
    3. Once the transaction goes through, you will receive the money in your account.

A word of warning: The Blockchain technology has never been hacked which is why so many people put trust in it but the service around Bitcoin is where you need to be very careful. You become the bank, You take the responsibility.

And that is it. As more and more people begin using Bitcoin, we will see more of this kind of crowdfunding happening.

Email us below and we’ll help you get started.

 

Leave a Comment