Bitcoin is a relatively new digital currency which is used in making online transactions between two individuals. The currency is considered to be the most efficient and safest form of online payments. (Learn how to pay with Bitcoin online)
Bitcoin can be used as a method of payment on several platforms but is most popular on the gambling websites.
Bitcoin functions not only in the form of payments but you can also make earnings through Bitcoin donations if you run a website/blog.
Nonetheless, when it comes Bitcoin donations, the most frequently asked question is: “How to accept Bitcoin donations” because accepting Bitcoin website donations is becoming more troublesome as the number of individuals shifting to online payment methods keeps on growing each day.
How to Accept Bitcoin Donations?
You can accept Bitcoin donations in the form of your local currency, such as USD, Euro, etc. The donations are similar to those of fiat currency. The only difference is that Bitcoin only exists virtually, while the traditional currency can be directly sent to your bank account or handed to you in person.
Currently, there are only 12 million bitcoins in circulation, most of which are held by the businessmen.
Also, there are plenty of efficient tools that convert traditional payments into Bitcoin. For this, all you require is a Bitcoin extension.
What Are the Methods in Which You Can Accept Bitcoin?
Normally, there are three ways to accept Bitcoin donations. The methods are discussed below briefly.
- You can make/accept variable amounts of donations using an image link. The link supports a specific donation and a Bitcoin blog link. Then you will need to place a Bitcoin QR code on your website which will allow users to make donations using their smartphones. To ensure a Bitcoin donation, you must maintain a secure environment.
- An alternate option to accept Bitcoin donations on your site is a donation counter. The counter helps your visitors how many donations you have received so far as part of the campaign. The counter can also be used to indicate a time frame and a standard amount of the donations a user might wish to place.
- Another way to accept Bitcoin donations is to add payment buttons on your site. A visitor who clicks on the payment button is taken to an interface which can be controlled until the bitcoin payment is received.
Bitcoin donations must take place under a safe environment, so make sure your site is safe while trying to make a Bitcoin transaction. The standard website security requires you to have complete control over all the transactions made through the website.
Bitcoin addresses are vulnerable to security threats. Lack of security could result in a donation being directed to an unwanted party.
Shenzhen Stock Exchange (SZSE) is one of the major stock exchanges of China. China is taking action against companies that are planning to start Blockchain research labs as on 21st March, a local media reported that SZSE has started an investigation against a company that has announced its plans to start a Blockchain research lab for applications in the medicinal industry.
Stock Trading Company
The stock trading of healthcare device manufacturer, Lifesense has been suspended by SZSE temporarily and now the company is required to provide all the information, explaining why Blockchain technology is so important for the company, also the project’s plans for the next three-years, as well as the amount of Lifesense’s funding shares.
Letter Issued by SZSE
On Tuesday, March 20, SZSE issued a letter and ordered Lifesense to reveal all the details about its plans to launch a “Blockchain laboratory.” SZSE is also expecting to get a reply from Lifesense by 23rd March. The announcement of Lifesense project is the move that made the company’s share price upsurge by 10% as it succeeded to grab the attention of the stock exchange while the price hit the daily limit of SZSE.
A similar inquiry was sent by SZSE to Zhejiang Enjoyor Electronics earlier this week, which made Enjoyor Electronics confiscate its announcement on WeChat as it claimed to launch the very first Blockchain-based electrical data forensic certificate, all around the world. A warning was also issued by SZSE in January that it’s going to carefully observe those companies that are using the popularity of Blockchain to improve their stock prices.
Companies Investigated By SZSE
According to China Money Network, over 20 listed companies have been investigated by SZSE due to the baseless claims about Blockchain technology. Earlier, a report was published on companies that were using the ‘Blockchain’ word in the US to improve their share prices through the publicity surrounding the innovative technology.
In February, SEC suspended three companies from trading that revealed statements about getting “Blockchain technology-related assets.”Also,
U.S. SEC (Securities and Exchange Commission) has announced more investigation of companies in the US, who alter their name to add the word “Blockchain” into it.
On Tuesday, during the Senate hearing on the potential cryptocurrency regulations, the chairmen of USA’s top two market regulatory agencies largely stuck to their script. The hearing was held by the Senate Committee on Urban Affairs, Housing, and Banking which affected a wide range of regulatory concerns that are linked to the blockchain and cryptocurrencies technology, including trading platforms, ICOs (initial coin offerings), derivatives and ETFs (exchange-traded funds).
Both Giancarlo and Clayton expressed concern in their statements that at this time, the cryptocurrency exchanges are delimited at the state level and not on the federal one. They both repeated that in the future at some undefined point, there’s a chance that the Congress may try to improve the ability of federal regulators to manage the spot markets.
The chairman of SEC (Securities and Exchange Commission), Jay Clayton, tried to shift the conversation back to the ICOs constantly and noted that he hasn’t seen an ICO that shouldn’t be catalogued as a security under federal regulations. The same statement he has been repeated on several past occasions as well.
He likewise gave a perception on why the SEC has struggled against the fund sponsors attempts to list Bitcoin ETFs and explained that because retail investors are largely targeted by the ETFs and are primarily one-sided markets, rules presiding their creation need to be strict than those for futures indentures, which are supervised by the CFTC. He added that the SEC will be open for revising its stance on Bitcoin ETFs if these rules are gratified later.
Meanwhile, Chairman Giancarlo grabbed the attention of many Bitcoin fanatics with some comments that seemed to be hat tips to the community.
The very first word that he used during the Congressional hearing was “hodl” and till the end of the hearing, he continued to contradict the common misconception that the coattails of blockchain technology are purged by Bitcoin.
He told the committee that it’s really important to reminisce that there’d be no blockchain if there was no Bitcoin. Overall, the whole hearing didn’t end up as a thunderclap, however, it proved what has been already made ostensible ‘that new cryptocurrency regulations are expected to be coming to the US markets soon.’