27 August 2016
Find out more

Wikimedia Foundation starts accepting bitcoin

31 July 2014  |  1629 views  |  0 Source: Wikimedia Foundation

We're fortunate that millions of people all over the world support the work of the Wikimedia Foundation through donations. It has always been important to the Foundation to make sure donating is as simple and inclusive as possible. Currently, we accept 13 different payment methods enabling donations from nearly every country in the world, and today, we're adding one more: bitcoin.

For those unfamiliar with bitcoin, it's a relatively new digital currency, currently being accepted by a growing number of institutions and merchants throughout the world. Members of our community have asked the Foundation to start accepting bitcoin. These requests, coupled with recent guidance from the US Internal Revenue Service, encouraged the Foundation to once again review our capacity to accept bitcoin.

During this review, we identified a new way to work around past technical challenges, as well as to minimize the legal risks of accepting bitcoin. Through our work with Coinbase, a bitcoin wallet and payment processor, we're able to immediately convert bitcoin to U.S. dollars, requiring minimal technical implementation on our end. Since we now also have guidance on how to account for bitcoin, there is a clear understanding of how to legally manage it.

If you are interested in donating bitcoin to the Wikimedia Foundation, you can now do so on our Ways to Give page. Thank you again to all our friends and supporters. Your support enables us to realize the Wikimedia vision - a world in which every single human being can freely share in the sum of all knowledge. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Find out moreVisit www.abe-eba.euVisit capgemini.com

Top topics

Most viewed Most shared
hands typing furiouslyBig Data's Three Big Trends in 2016
7638 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
7443 views 11 | 24 tweets | 9 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6528 views comments | 17 tweets | 20 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
5927 views comments | 14 tweets | 14 linkedin
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
5482 views comments | 15 tweets | 18 linkedin

Featured job

Find your next job