Changes

Jump to: navigation, search

Donate Bitcoin

494 bytes added, 13:45, 27 October 2016
no edit summary
<h5>Is Mozilla worried about the fluctuating value of bitcoin?</h5>
Mozilla will Ordinarily such fluctuations, like those of other investments, are not actually be holding any bitcoins it receives through donationstroubling. Instead Mozilla’s bitcoin wallet provider, we are partnering with Coinbase , also provides Mozilla and other nonprofit clients the ability to convert them bitcoins received into U.S. dollars at any time. Thus, Mozilla retains full power to United States keep bitcoin or to convert it into dollars upon receiptwithout losing value, whichever seems more prudent at the time. That means that the amount <br><h5> Does giving bitcoin result in more of the my charitable donation will remain entirely unaffected by changes in market value of going to transaction fees?</h5>While Mozilla may elect to have Coinbase convert some donated bitcoin. In additioninto United States dollars, Coinbase waives all transaction fees for nonprofits who use its service, including Mozilla. That means the amount value in bitcoins that donors give in USD US Dollars of the bitcoin received by Mozilla (and the U.S. dollars it receives if it converts its bitcoin to cash) is what the same amount donated by the donor and/or converted by Mozilla will receive, without further reduction.
<br>
<h5>Is it tax-deductible to donate using bitcoin?</h5>
In most cases, Mozilla requires only an email address, which is necessary so that Mozilla can send them an acknowledgment letter for tax purposes.
<br>
For bitcoin contributions of more than $5,000, and other contributions for which the donor provides Form 8283 to Mozilla for signature, Mozilla expects to file a Form 8282 with the IRS in connection with its any subsequent disposition of the donated bitcoins it receivesduring the three years following the gift. In such cases, we will request the donor’s name, address, and U.S. tax identification number so that we can properly complete our tax forms. Typically, the donor is required to provide that information to Mozilla on a Form 8283 in any event, in order to secure his or her own tax deduction (see above). If we do not hear from a donor within 90 calendar days from the date of his or her donation, we reserve the right to file the Form 8282 using our best available information.
<br>
<h5>How secure is Coinbase?</h5>
Coinbase is committed to keeping its platform secure by encrypting all sensitive customer information and storing 97% of funds offline to protect against theft. Coinbase also utilizes an active community of security researchers to encourage the continuous auditing of their platform. For more information on the measures Coinbase takes to protect your funds and information, visit their Security page:
https://www.coinbase.com/security
Confirm
233
edits

Navigation menu