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ATLANTA, June 24, 2019 (GLOBE NEWSWIRE) -- BitPay, the largest global blockchain payments provider, today shared the company processed more than $37 million in cryptocurrency-denominated donations since 2017. The Tony Hawk Foundation becomes the latest major charity organization to open up its donation efforts to blockchain payment efforts, joining other notable organizations such as the American National Red Cross, the Electronic Frontier Foundation (EFF), Greenpeace, The San Francisco Foundation, Heifer International, The Water Project, Teach for America, United Way Innovation Fund and the Wikimedia Foundation.
The Tony Hawk Foundation
, which supports and empowers youth in low-income communities, is now accepting Bitcoin donations via BitPay for the Foundation’s efforts in the U.S. and abroad. Bitcoin opens another avenue to donations globally especially where traditional banking systems are not possible, while reducing high fees and increasing payment transparency and efficiency.
“THF has long been recognized for our innovative approach to building communities, and we’re excited to offer this great new way to support our work,” said Miki Vuckovich, Executive Director of The Tony Hawk Foundation.
In accepting Bitcoin donations through BitPay, the Tony Hawk Foundation and other charitable organizations can broaden its donor base while still being shielded from the price volatility that can occur with Bitcoin transactions. The customer makes the donation in Bitcoin or Bitcoin Cash and BitPay verifies the funds and accepts the Bitcoin or Bitcoin Cash on behalf of the organization. The organization has the option to take Bitcoin, Bitcoin Cash or fiat currency or a split. If the organization chooses to take 100% fiat currency, the dollars are deposited into the organization’s bank account the next business day minus a 1% fee BitPay charges for the entire process. This fee is significantly less than the fees charged by credit cards allowing organizations to keep a larger percentage of overall donations. The organization is also protected from any Bitcoin price volatility.
Moreover, BitPay donations are treated as cash contributions, meaning donors will receive donation acknowledgements for tax purposes. Utilizing BitPay, donations can be accomplished from any computer or mobile device, and invoices can be generated by an email invoice - making the whole process a safe, secure, and seamless one for donors and the Foundation alike.
“Bitcoin and Bitcoin Cash offer an economical payment option in comparison to traditional bank options where more money goes to charity rather than paying fees,” said Sonny Singh, Chief Commercial Officer of BitPay. “As blockchain payments continue to move mainstream, we are seeing an increase in donations from the crypto community.”
To make a charitable donation or shop with one of BitPay’s featured charities and merchants, visit the BitPay Merchant Directory.
About The Tony Hawk Foundation
A charitable, non-profit organization, the Tony Hawk Foundation was established in 2002 by its namesake, professional skateboarder Tony Hawk. THF promotes and provides advocacy training and funds for high-quality public skateparks in low-income areas throughout the United States that promote healthy, active lifestyles, and to International programs that enrich the lives of youth through skateboarding. Domestically, the Foundation’s Skatepark Grant programs have awarded over $9-million to 623 communities in all 50 States. The Foundation’s International Program has provided technical support to skatepark projects on every continent and awarded $150,000 to assist educational programs in Afghanistan, Cambodia, and South Africa. For more information, visit the Foundation’s Web site at www.tonyhawkfoundation.org.
Founded in 2011, BitPay is the pioneer and the most experienced company in Bitcoin and blockchain payments. Its suite of products enables businesses to send and receive cross border payments, also enabling consumers to manage digital assets with the BitPay Wallet and turn digital assets into dollars with the BitPay Prepaid Visa® Card. The company has offices in North America, Europe, and South America and has raised over $70 million from leading investors including Founders Fund, Index Ventures and Aquiline Technology Growth. For more information visit https://bitpay.com
The BitPay Visa® Prepaid Card is issued by Metropolitan Commercial Bank, member FDIC, pursuant to a license from Visa, U.S.A. Inc. “Metropolitan” and “Metropolitan Commercial Bank” are registered trademarks of Metropolitan Commercial Bank © 2014. Use of the Card is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule, if any.