Arkansas-based Heifer International, a nonprofit that aims to reduce world hunger by helping communities become self-sufficient, has started accepting bitcoin donations through a partnership with the largest digital currency payment processor in the US, BitPay.
Pierre Ferrari, CEO and President of Heifer, has been watching bitcoin's rapid proliferation across the globe with great enthusiasm, “Bitcoin is gaining recognition and value globally, so we are excited to offer this universal digital currency as an option for donors,” he said.
Traditional payment methods are limited by fees and every donation has a minimum threshold amount, however, these obstructions do not exist in the Bitcoin protocol, which is something Mr. Ferrari says will "allow Heifer to devote a greater percentage of donations to serving families.”
According to the press release, Heifer will not be receiving the bitcoin donations directly, but will be receiving the USD equivalent directly from BitPay. Chief Commercial Officer at BitPay, Sonny Singh, said the company was "glad to welcome a large nonprofit" to its ranks of clients. Singh also mentioned the "highly engaged and generous" nature of the Bitcoin community, which recently banded together to raise funds for The Chinko Project, an anti-poaching team working on the border of Congo & South Sudan.
"Since bitcoin is as global as the internet, it will also allow Heifer to reach donors anywhere in the world – even if they don't have access to credit cards and PayPal," writes Rory Desmond, Director of Business Development at BitPay.
Heifer International is ranked #42 by NGO ADVISOR, a Geneva-based independent organization that does thorough research on nonprofits. Heifer's announcement will undoubtedly prompt other charities and nonprofits to begin exploring the decentralized and cost-effective nature of the Bitcoin payment network.
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