It appears that some cryptocurrencies are gaining a bit more traction. Following litecoin earlier in the week, bitcoin is now accepted by the American Cancer Society.
Nonprofits tend to benefit a lot from accepting cryptocurrency donations.
More Nonprofits Embrace Bitcoin
For reasons unknown, the vast majority of them still refuse to look into this option.
The latest nonprofit to change its stance is the American Cancer Society, or ACS.
It is evident that organizations looking into cancer research tend to gain plenty of donations, assuming the payment method support is there.
What is remarkable is how the ACS opts to accept bitcoin through BitPay.
It is the largest bitcoin payment processor, but one that also receives plenty of flack in recent months.
Even so, BitPay has forced crucial partnerships with the American Red Cross, among others.
How this new solution will affect the ACS, remains to be seen.
Cryptocurrencies are often criticized for not being used as payment or donation tools.
When more nonprofits accept bitcoin, however, that situation is bound to change sooner or later.
The ACS may help set a noteworthy example for other nonprofits to follow.
Bitcoin and other similar currencies can become a new “revenue” stream for all of these organizations, as there is always more demand for contributions.