Fantasy sports has always seemed like a promising area for Bitcoin acceptance. An industry dependent on online payments with over US$1 billion bet in the U.S. each year on fantasy football alone, fant
Tuesday, September 16, 2014
“We Could See $5 billion in Bitcoin Fantasy Sports Contests Played Annually” - Matt Primeaux, Victiv
Fantasy sports has always seemed like a promising area for Bitcoin acceptance. An industry dependent on online payments with over US$1 billion bet in the U.S. each year on fantasy football alone, fant
First Ottawa-based Not-For-Profit to Accept Bitcoin
On October 3rd at The SpinBin at 310 Dalhousie St., Ottawa-based not-for-profit Ottawa Charity Ping Pong will become the first organization of its kind locally to accept bitcoin donations. Resilient 21, a local Ottawa-based Bitcoin consulting firm, has set the corporation up using CAVIRTEX merchant solutions.
Many companies are turning to bitcoin as a method of payment due to its many benefits: it’s quick, it’s easy and it is less expensive than traditional payment methods. Charities who operate mostly on a donation basis rely on this source of funding to operate, making every cent valuable. CAVIRTEX takes .75% on transactions when converted immediately to dollars or 0% if kept in bitcoin, which is much less when compared to donations made via credit card, which range from 2-4% on average. It will also enable those who cannot be at the event to donate to the charity from any location. Alastair Mitchell of Resilient 21 notes, “long-term, accepting bitcoin is fantastic. It ensures that more dollars get to the people who need it, and it takes away from fees and administrative costs.”
Mitchell is spearheading the merchant acceptance of bitcoin in Ottawa and says that “merchants who use it absolutely love it.” At the charity event, which will be held on October 3rd, there will be a spot where bitcoin can be donated in person and they can also be donated online today at http://ift.tt/1DfudPe.
The charity is exploring the idea of accepting bitcoin for food and drink, although this has not been confirmed yet. Ottawa Charity Ping Pong is one of the most forward thinking non-profits in the Ottawa area, seeing bitcoin as a natural fit in expanding their donation pool. The organization has already started to receive bitcoin donations via their website, says, Mitchell, explaining that “any charity of any significance will soon be accepting bitcoin” because of these benefits. Ottawa Charity Ping Pong benefits four local charities: Youth Services Bureau; Operation Come Home; Do It For Daron; and Christie Lake Kids. For more information on this event, please visit http://ift.tt/1qc71ae
For media inquiries, questions or concerns, please contact Alastair Mitchell at mitchell@resilient21.com
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