The popular free encyclopedia, Wikipedia now accepts donations made with Bitcoin Cash via BitPay. This latest development comes after Wikimedia Foundation, the nonprofit that operates Wikipedia and similar free knowledge projects, partnered with BitPay.
Wikipedia continues to operate as a non-profit body and as a global venture, it is very important to have diverse and cost-effective payment solutions. Cryptocurrencies are one of the options, and the platform has now listed BCH as a means of payment.
Wikimedia accepts BCH following BitPay
Wikimedia was previously accepting BTC as a means of payment for donations via Coinbase but has now switched to BitPay. This has enabled them to accept BCH as well.
Pats Pena, director of payments and operations at Wikimedia Foundation commented that their donors had shown increased interest for different cryptos. This made it easy for them to start accepting Bitcoin Cash. “We accept donations globally, and we strive to provide a large variety of donation options. It’s very important that we can get international donations processed in ways that are efficient and cost-effective,” Pena added.
BitPay has so far partnered with numerous large non-profits to allow them to accept cryptocurrency donations. The payment processor reported that donations had increased drastically over the last few years. Donations are usually high at the end of the year as people look for tax benefits, the company added. BitPay has so far processed numerous multi-million dollar donations to non-profits over the past few years and expects the pattern to continue this year.
Sonny Singh, Bitpay chief commercial officer, pointed out that Bitcoin and Bitcoin Cash are some of the cheapest payment options currently available. This meant that more money goes to charity rather than paying fees. “Wikimedia does so much good around the world that it is a privilege to help them raise money,” Singh added.
The bear market didn’t affect BitPay as the company recorded strong performance last year. In 2018, the company processed over 1 billion USD in payments during the second half of the year. By doing that, it set a new record for transaction fee revenue and also recorded new customers. The B2B operation of the company also experienced a record year as it surged by roughly 225 percent from the previous year.