Open Collective is currently trialing cryptocurrency use on the platform.
Collectives hosted by Open Source Collective are now able to accept contributions using a range of cryptocurrencies. We hope to release this feature for all Hosts soon.
The cryptocurrencies available include (among others):
- BitCoin (BTC)
- Ethereum (ETH)
- DAI (DAI)
- BitCoin Cash (BCH)
- LiteCoin(LTE)
- ZCash (ZEC)
{% hint style="info" %} Contributions using cryptocurrency will be immediately converted into fiat, and that amount will be credited to the Collective shortly after. {% endhint %}
Contributing crypto works a little differently from our normal process.
If a Collective is accepting contributions in cryptocurrencies you will see a 'Crypto Contribution' tier in the 'Contribute' section on their profile page.
Click 'Contribute' to begin the flow.
Select the currency you wish to contribute in and the amount you wish to contribute.
We calculate the anticipated contribution amount in the fiat currency used by the host.
Click 'your info' and select a profile to use for this contribution (user, organization, or incognito).
{% hint style="warning" %} Note that most cryptocurrencies are not private, using an incognito profile to contribute cryptocurrency to a Collective may reveal your identity. {% endhint %}
At this point, our partner The Giving Block, generates an individual wallet address to pay to, which will also be emailed to you.
Transfer the amount shown to the wallet address using your chosen wallet provider.
On receipt of your contribution, we will convert your cryptocurrency into the fiat currency of the Collective and credit that amount (minus processing fees and charges) to the Collective.
You will receive an email confirming that your contribution has been received and has been converted.