American Red Cross Accepts Bitcoin - Essay Example

The American Red Cross now not only accepts donations from bitcoin users, it is also taking part in the international event called Bitcoin Black Friday.

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The American Red Cross has recently announced that now it will accept donations in crypto currency Bitcoin.

They will rely on Bitcoin payment processor BitPay to process the donations.

The American Red Cross is the official United States affiliate of the International Red Cross and Red Crescent movement. It was established back in 1881 as a humanitarian organization.

The organization offers disaster relief and provides emergency assistance in the United States. For 2013, their total operating revenues and expenses was $3.4 billion.

Elizabeth Ploshay, non-profit outreach leader at BitPay, expressed in her statement that she believes that this partnership between Bitpay and The American Red Cross would help portray the kindness of Bitcoin customers to the charitable organization.

It will also prove the community’s generosity to the US public.

Ploshay has a board member seat at the Bitcoin Foundation, which is considered the industry’s chief trade organization.

She commented that the Bitcoin users are exceptionally passionate individuals who are always seeking ways to use their Bitcoin holding for good causes.

She is confident that the Bitcoin community will be very excited to have an established charity like The American Red Cross to donate Bitcoin to.

The American Red Cross also indicated that their move to accept the digital currency would allow the organization to reach a completely new demographic of donators.

American Red Cross’s executive director of corporate and foundation programs, Jennifer Niyangoda mentioned in an official post that this change gives a new group of supporters the chance to financially help people in serious need.

The payment processor Bitpay has a strict policy to never charge any payment processing fees to the non-profit organizations it is involved with.

This is a market strategy it adapted from Coinbase, the firm’s largest competitor in US.

Now the donations can be made through a separate website established by BitPay. The website requires the users to select the amount they wish to donate, in their desired currency.

Individuals and companies that make contributions are also required to provide their full name along with contact details like their email address, mailing address and mobile phone number.

BitPay has been supporting numerous non-profit organizations. The list includes the Ronald McDonald House Charities, Literacy Bridge abd Apopo.

BitPay has also announced that the American Red Cross will take part in the Bitcoin Black Friday. Bitcoin Black Friday is an annual event, held on 28th November, which aims to highlight exclusive shopping opportunities in the Bitcoin world.

The American Red Cross will appear on Bitcoin Black Friday’s the official website. The organization can also be spotted in the official Bitcoin Giving Tuesday website.

With this move, the organization connected with many different charities, all of which now accept crypto currency Bitcoin through BitPay.

This includes Greenpeace USA, one of most prominent environmental organizations in America.