What is the situation with PayPal now and is there going to be a time when you are able to send an address for a donation using Bitcoin? Does PayPal actually takes Bitcoin now? There’s been lots of rumors lately that PayPal even takes Bitcoin as payment method, especially in some regions of the globe. However, the truth of the matter is that while as of today PayPal does not accept any Cryptocurrency or any form of bitcoins, they do offer a special option for donations called the “Donation” link.
This link is provided right at the bottom of every PayPal page when you check out. This makes it so very simple for supporters of various charities or organizations to donate funds to good causes without having to deal with dealing with issues of currency conversions, etc. This feature is one of the largest reasons why people use bitcoins and other cryptosporems instead of regular credit cards or debit cards. By clicking on this link, you can select a charity you would like to donate to then simply click “Donate” and your funds will be transferred into your account. At that point it’s just a matter of converting your funds from whatever traditional currency you happen to be using into whatever lesser known but still accepted currency like thorium, bitcoins or whatever other cryptocurre currency you happen to be using.
There isn’t any limit to how many times you can donate to your favourite charities using the Donation link as compared to how many times you could potentially transfer money using a normal bank account. It’s just like paying with cash: you can put as much money as you want into your virtual account until the time you close it out. It’s that easy. Even if you don’t have access to a computer with an internet connection at home or at work (some of us are working abroad where we don’t have access to Wi-Fi) you can still donate to your favourite charities in the comfort of your own home through the bitcoin to paypal method.
There is a series of frequently asked questions (FAQ) covering various aspects of using bitcoins and cryptosporms. When you get started using this payment scheme, these are the first questions you should answer. Find out how you set up your private payment channel, how you generate public keys, how to receive payments, how to change your default settings, what fees there are, how you secure your channel, and lastly, how you set up your non-profit organization (if you will be using one). There’s even a frequently asked question, covering the use of bitcoins as payment when using sites which allow you to donate using credit cards. That one’s quite long, so read it all through before you get started.
You also need to learn about wallets to suit your purposes. There are many different types of wallets available for different purposes and one very good way to make sure you choose a good model is by reading and then testing some of them. The most popular way to test the usability of a wallet is to download a couple of them and test them. Get a couple of them and really do test them. Then compare them to your standard financial tool like your credit card or a PayPal account. It’s always a good idea to compare a couple of wallets before choosing which one to use.
The last step in getting started with bitcoins is probably the most obvious one – you need to get a merchant account. This is where your funds will come from once they land into your wallet. You need to find a broker platform that supports this method of payment. Most brokers today have already jumped on board the bitcoin bandwagon – if you want to avoid the hassle, skip the free market and go straight to the established ones. With a broker platform supporting the payment methods of bitcoins, you are good to go.
Beatriz Viterbo 