Bitcoin FAQs
What is Bitcoin?
Bitcoin is an innovative payment network and a new form of currency; the first decentralized, digital currency. Bitcoin uses peer-to-peer (P2P) technology to operate with no central authority, banks, or middlemen managing transactions. Bitcoin is open-source; its design is public and transparent, nobody owns or controls Bitcoin, and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses by utilizing instant P2P transactions, worldwide payments and zero or low processing fees.
How will donations received via Bitcoin be used?
Using Coinbase, Friends of the GardenAerial can accept donations directly from the digital wallet of donors via computers, tablets or smartphones. Coinbase also allows Friends of the GardenAerial to instantly convert the digital currency to dollars. For donors, using Bitcoin ensures that 100 percent of every donation goes directly to Friends of the GardenAerial programs and projects. Donations can be made online by visiting www.greentopia.org/donate.
What is Coinbase?
Coinbase is the world’s most popular bitcoin wallet. Coinbase makes it easy to securely buy, use, and accept bitcoin currency. Over 7,000 developer apps, 37,000 merchants and 2 million consumers currently use the Coinbase platform worldwide. The platform also makes it easy and safe to send smaller donation amounts as Coinbase has waived all transaction fees for registered 501(c)(3) non-profit organizations accepting Bitcoin through its merchant tools.
Who can donate bitcoin to Friends of the GardenAerial? Can I donate from outside the US?
Bitcoin is a global payment network, and accepting it enables Friends of the GardenAerial to accept donations from anywhere in the world. If you have an internet connection and a bitcoin digital wallet, you can donate bitcoin to Friends of the GardenAerial.
Will Friends of the GardenAerial make a profit from users’ donations?
No. As a non-profit organization, Friends of the GardenAerial does not make a profit from its activities.