Whatever you’re engaged in, if it involves receiving donations, it's worth considering accepting them in cryptocurrency. Even if you think that most of your audience doesn't use crypto, it’s still a good idea to add this option. The more ways you offer for people to donate, the more contributions you can expect. Plus, you can always convert such donations into cash through online cryptocurrency exchanges. But let’s take it step by step.

How to Receive Donations in Crypto: A Complete Guide

Step 1: Choosing a Service
First of all, choose the platform through which you’ll receive donations in cryptocurrency. There are many options, so it makes sense to create a list of 3-5 criteria to guide your decision. Here’s what to check first:

• Who can register on the platform (users from which countries and for what purposes)

• Commission rates

• Licenses/permissions for the service to operate

• User reviews

• The possibility of launching special fundraising campaigns (if applicable).

If the platform meets all your requirements, the rest is simple. You just need to register and set up an account. Typically, each platform has detailed instructions on how to do this. Additionally, such services often provide widgets or donation buttons that you can integrate into your website.

Sometimes, the service includes automatic conversion of cryptocurrency into cash. This is convenient but not very common.

Step 2: Setting Up a Crypto Wallet
More often than not, you’ll be receiving donations directly into your crypto wallet. It will need to be integrated with the chosen platform via plugins and widgets.

When selecting the wallet, pay attention to:

• Cryptocurrency options: The ideal wallet supports both cryptocurrencies (at least the most popular ones) and NFT tokens.

• Security: Primarily, look for two-factor authentication and backup options. Alternatively, you can set up two different wallets. On one (for example, a cold wallet), you’ll store your main savings. On the other (say, an online wallet), you’ll keep a smaller amount for trading, exchanging, purchases, etc.

• Withdrawal fees.

Step 3: Attracting Donations
Now you’re ready to receive donations in crypto. But for your audience to be ready as well, you’ll need to provide them with the necessary information and motivation.

• Information
  To start, inform your audience that they now have the option to donate in cryptocurrency. Provide clear information on how these donations work.

• Motivation
  The next step is to highlight the benefits of crypto donations. For instance, some might appreciate the anonymity of such donations. You could also mention any tax advantages for cryptocurrency donations in your country (if applicable).

How to Convert Cryptocurrency into Cash

Now for the fun part. If you’re using cryptocurrency, at some point you’ll want to exchange it for cash. There are several ways to do this. The fastest and cheapest (and also safest) method is through an online crypto exchange. Let’s take a look at how it works using AllTrust.me as an example.

• Registration
  Go to the website and create an account. This takes less than a minute. All you need to provide is your name and email address. Then, check your inbox to confirm the registration.

• Online Application
  Next, you’ll need to submit an application for the online cryptocurrency exchange. Use the calculator on the AllTrust.me website to see the commission (there may be none) and the exchange rate. You will also need to provide your passport number.

• Exchange at the Office
  Once your online cryptocurrency exchange request is approved, you’ll receive a notification. The final step is to complete the exchange at the crypto exchange office. The AllTrust.me office in Georgia is located in the center of Tbilisi. Don’t forget to bring your passport. The exchange itself will take no more than 5 minutes.

If you’ve never accepted donations in crypto before, it may seem like a complicated process. But as you can see, it’s not. Setting up crypto donations takes just one or two days. And you can convert crypto into cash in just a few hours.