It offers simple pricing, flexibility with the cryptocurrencies your organization accepts, an auto-conversion feature, and an intuitive account interface that makes it easy to manage and withdraw assets. Which exchange is best for you?įundraise Up recommends Coinbase Commerce for most nonprofits. Gemini offers a special account provisioning process for nonprofits, but similar to its standard account types, the timeline for getting a Gemini account ranges from about three to six months. While straightforward, the process can take about three to four weeks to complete, so nonprofits should plan accordingly. This account type offers additional features but requires nonprofits to complete an account application. To access that feature, you need to take advantage of a Coinbase-managed Commerce account. With a Coinbase self-managed account, you can get start accepting crypto donations immediately, though you won’t have access to Coinbase’s auto-conversion feature. With Coinbase Commerce, you have two options. If your nonprofit is considering accepting crypto donations, something you need to consider is how long it will take to get an account with an exchange like Coinbase Commerce or Gemini. Overall, both platforms will check the boxes for even the most security-conscious nonprofits. Securityīoth Coinbase Commerce and Gemini provide robust security features such as encryption, two-factor authentication, and compliance with standards such as SOX or SOC 2. Support for more countries not only means opportunities for global giving, it also enables nonprofits operating outside of the US to take advantage of crypto as a donation channel. Number of supported countriesīetween Coinbase Commerce and Gemini, Coinbase leads the way with the number of countries its platform supports - more than 150 versus Gemini’s roughly 60 supported countries. Both exchanges support the most popular currencies, including Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC). Coinbase Commerce, on the other hand, supports 10 of the most popular cryptocurrencies. Gemini supports the greatest number of cryptocurrencies with support for over 100 currencies, allowing your nonprofit to tap into a broad network of crypto holders. At this time, Gemini doesn’t have toggleable currencies as a feature. This is useful for nonprofits that want to accept some currencies, but not others that may have larger carbon footprints. With Coinbase Commerce, you can select which cryptocurrencies you want to enable. While in Coinbase Commerce, auto-conversion is a simple toggle, to achieve similar functionality in Gemini, you have to configure a Stop-Limit order using the complex ActiveTrader interface. You can learn more about the auto-conversion feature here. The feature is specifically available with a Coinbase-managed Commerce account. Auto-conversionįor nonprofits that are keen on quickly cashing out the crypto donations they receive, Coinbase Commerce’s auto-conversion feature makes it easy to do that. In both cases with Gemini, you’ll additionally pay a convenience fee. On some transactions, you’ll pay a set dollar amount, and on others, you’ll pay a percentage of the transaction size. In contrast, Gemini’s fee structure is based on the size of the transaction. At just 1% per transaction, it’s easy to know what your costs will be. Now, let’s take a closer look at the two exchanges: PricingĬoinbase Commerce offers simple pricing. Nonprofits that want to use crypto giving as a long-term investment strategy Nonprofits that want to add crypto as a new donation channel Application required, processed within 3-6 months Gemini nonprofit account: difficult to get. Application required, processed within 3-4 weeks Self-managed account: easy to get, immediate accessĬoinbase-managed account: somewhat easy to get. No, nonprofits can’t select which cryptocurrencies they want to accept Yes, nonprofits can select which cryptocurrencies they want to accept + Convenience fee 0.5% of the coin’s valueĪvailable with a Coinbase-managed Commerce account Transaction > $200 (1.49% of transaction)
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