How to accept donations in cryptocurrencies?

cryptocurrencies It's something we've all heard about. It is in fashion and is already part of the daily lives of many people.

With cryptocurrencies it is possible to trade assets without depending on banks or financial institutions.

The technology that underpins cryptocurrencies is called blockchain and is believed to be the foundation of the future of the Internet and the so-called Web3 (new version of the Internet).

In this sense, the team responsible for Kyrios is already working on a series of projects based on Blockchain and one of the objectives is to bring Kyrios the possibility of being in this new world and also allow donations in cryptocurrencies such as Bitcoin, Ethereum among others.

Although at this moment we are still developing all these features, it is now possible to accept donations on the Kyrios Social Portal and on the Kyrios APP.

Follow this step-by-step guide and also accept donations in cryptocurrency in your Diocese/Parish/Community.

How to create a portfolio #

To receive cryptocurrencies, as with physical money, we need a place to store them. For this purpose there is the concept of portfolio. There are several types of wallets to store cryptocurrencies, whether they are “hot wallets”, “cold wallets” or even wallets that are made available by platforms (“exchanges”) that allow the purchase and sale of cryptocurrencies.

One of the examples, to obtain addresses that allow you to receive several cryptocurrencies simultaneously, is through a registration on a platform that allows you to work with several simultaneously, as is the case of Binance and FTX.

For example purposes, we will use Binance, but there are many others (Ledger, Metamask, Trust Wallet, Coinbase, FTX, …) that can be used to create wallet addresses in order to receive donations to your institution.

To create the account, you must go to the Binance website and enter your email or mobile number to start the registration:

Then you must follow the steps until you have your account confirmed.

How to check the wallet address #

Now that you have an account on Binance, you must login with your data and click on “wallet” -“fiat and spot”, and the following screen will appear with the various cryptocurrencies that Binance supports:

To obtain the wallet address associated with the cryptocurrency that we want to accept, we must click on Deposit in the line for the respective cryptocurrency:

Next, it is necessary to choose the network that we intend to use. There are cryptocurrencies that accept different networks and the transaction fee amount may be different depending on the network:

In the example we are associating the Ethereum cryptocurrency, so we will select the native network which is ETH – Ethereum (ERC20):

Now the address appears, which we can copy and share to receive donations:

You can copy the address, but you can also save the image with the QR code that appears when you hover your mouse over the qr icon on the right side:

How to publicize the address on Kyrios Social #

Now that we already have an address for our wallet (we can disclose the address for more than 1 cryptocurrency, being able to accept several, such as Bitcoin, Ethereum, Solana, UST, …

To present the wallet and QR code on the subscription page on the Portal, you must:

Add content with wallet addresses #

It is necessary to create content, which has a title indicating that it is for donations, a sentence requesting the donation, the QR code and the indication of the wallet address:

Associate the content with the structure of the Kyrios Social page and also the Kyrios APP #

With the content already created, now we must open the settings of the Website and associate the content we created in the “Content on how to help” field:

On the Kyrios Social portal page, the content will appear in the sidebar:

In the Kyrios APP, a new yellowish button appears:

When clicked, the details appear:

Both on Kyrios Social and on the APP, you can share the content on social networks to be able to publicize as much as possible this new way of receiving help for your community, as well as causes they are supporting.

note: The information provided in this article does not constitute investment, financial, trading, platform or any other advice. Loss of access to exchange platforms (eg Binance, FTX, …) and wallets (Ledger, Metamask, Trust Wallet, …) implies the loss of all the value contained in the respective wallets. Cryptocurrency transactions may be irreversible and consequently losses due to fraudulent or accidental transactions may not be recoverable.