This infographic was originally published on Who Is Hosting This blog.
Since the release of Bitcoin in 2009 it has been rapidly adopted. It is now used by millions of people, businesses and non-profit organisations all over the world. In fact the cryptocurrency now has over 13 million Bitcoins in circulation and each is valued at $300 or more.
Bitcoin is changing the face of how we pay for services and buy goods. Yet, its adoption has been far from uniform. There remain many who still remain unaware of exactly how it works. Indeed, recent surveys found that nearly a third of all Americans did not even know what a Bitcoin is.
This confusion from has led to a slow adoption by many businesses, but one sector has clearly grasped its potential with both hands: the non-profit sector.
One headline benefit that Bitcoin offers this sector is the low transaction fees. Bitcoins generally carry significantly lower transaction fees than other ways of transferring funds. This means, of course, that a higher percentage of each donation can actually be put to use in the work of the non-profit.
What are the other benefits of Bitcoins for the third sector, and are there any risks? Who are the early adopters, and what will cryptocurrencies mean for the future?
In our infographic we explore exactly what Bitcoin may mean for the non-profit sector in years to come and reveal just what it could mean for your organisation today.
Stephanie Beer is with NeoMam Studios, an agency that specializes in producing great infographics and created this one. You can follow her on Twitter @Be_5te
Want to learn more about Bitcoin? Check out this video from CNN to see what it’s like to live on Bitcoin for a day!
Or these recent posts from Third Sector Today!
What are your experiences or thoughts about developing Bitcoin as a new source of revenue?