Enabling Crypto in Fundraise Up with Coinbase Commerce

Enabling Crypto with Coinbase Commerce allows donors to walk through a friendly cryptocurrency checkout, providing easy donation management and automatic receipting.

Connecting a crypto processor account

As part of preparing to accept cryptocurrency donations, one option is to create an account with Coinbase Commerce. Once you have such an account, you can proceed to the remaining steps and materials to start processing crypto donations into your Coinbase Commerce account.

It's also worth being aware that the available crypto processor accounts at this time do not offer automatic deduction of our platform costs. As such, Fundraise Up's platform fees for processing crypto donations will be invoiced from your organization at the end of any timespan where you received crypto donations, rather than immediately.

Connecting Coinbase Commerce

Connecting to Fundraise Up can be done by making an API key, a process we outline here:

First, log into your Coinbase Commerce account, go to Settings, and then go to Security.

From there, click New API Key, and create an API key that you will use with Fundraise Up.

Make sure to copy the API key value, as you'll need it later.

Last but not least, log into your Fundraise Up account, click on your organization's name in the top right, choose Settings in the menu, and click Payment Options in the left-hand menu.

From here, you can click to connect a crypto processor and enter the Coinbase Commerce API key you copied into the connection screen. 

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The list of available coins is pulled from whatever coins were allowed on the connected Coinbase Commerce account at the time of connection.

If you would like to change the list of allowed cryptocurrencies, you will want to adjust the list in Coinbase Commerce, then disconnect and reconnect your payment processor account to Fundraise Up.


Choosing which campaigns accept crypto

Once you've connected Coinbase Commerce and enabled cryptocurrency as a payment option for your account, you'll want to choose which Fundraise Up campaigns offer cryptocurrency donations as a checkout option. 

To do so, click the Campaigns option in the top bar, then click on any campaign you'd like to edit. In the edit options under checkout, click Payment Options, then check the box to accept cryptocurrency donations into this campaign specifically, and click the Save Changes button at the bottom.

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Once you've done so, donors opening up checkout for this campaign will have the option to donate cryptocurrency instead of standard (or "fiat") currency.

Please be aware that, if cryptocurrency is the default payment option for a campaign, "form"-style elements (Donation Form, Simple Form, Impact Slider) will not be available for that campaign, as the amount controls inherent to those elements are designed around donations of standard currency.

You can, however, use Donate Button elements to open campaigns that have cryptocurrency as the default payment option!


Understanding the crypto checkout process

Screen Shot 2022-08-08 at 12.32.58 PMMaking their donation

Donors who arrive at a cryptocurrency donation checkout will see options to choose which currency (and exchange) they are donating, and then an amount field.

As donors enter an amount of their cryptocurrency of choice, they'll be shown a live estimate of the approximate value of that amount of cryptocurrency in your account's default standard currency - USD for US accounts, GBP for UK accounts, etc.

When the donor has chosen how much they'd like to give and clicks Donate, they'll be taken to provide the personal information they'd like to associate with this donation, skipping past the "payment option" screen as it is unnecessary in this flow.

After that, the donor will be shown all required and optional personal information fields, including custom questions if present on the campaign. They will be able to skip optional fields if desired.

Screen Shot 2022-08-09 at 9.10.58 AMOnce the donor has provided their personal information, they'll be taken to a screen of checkout which offers them a QR code and a button.

  • Donors who have a crypto app on their phone can scan the QR code, which should auto-open their app of choice and take them right to a transfer screen where they can finalize the amount/currency they want to send to your organization.
  • Donors who prefer to make crypto transfers from a website can instead use the "Copy wallet address" button to copy the wallet ID where they should send their cryptocurrency, which they can paste into their website of choice while making the transfer.

Once a donor has initiated the transfer, the screen will remain open to this QR code/"Copy wallet address" button screen until it receives enough confirmations on the blockchain that it's for sure going to go through, at which time the screen will auto-advance to the campaign's Thank You screen of checkout.

Reviewing their donation later

Given that crypto donations are at this time only a one-time donation method, donors will receive the "One time receipt" email template if enabled when their donation succeeds.

If PDF receipts are enabled the donor will, as would be appropriate with any in-kind donation method, receive a PDF receipt that lists out the amount in the specific cryptocurrency they donated, as well as the date and time they donated. 

This way, each donor can responsibly report the value of their donation to the tax service in your operating country rather than having the reported amount proscribed due to an estimate on a receipt.

Donors accessing Donor Portal will be able to see both the amount they gave and the approximate estimated converted value of the amount they gave.

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Managing incoming crypto donations

In the Fundraise Up dashboard

Within your Fundraise Up dashboard and Insights tab, crypto donations will appear much like any other donation in any currency aside from your default one; in granular views, each donation will show the original cryptocurrency and amount donated, but in summaries, the dashboard will show the approximate amount in your default currency that donation would have been if sold immediately upon arrival.

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On donation record pages themselves, you can see more details about the payment method used, the specific cryptocurrency and amount provided, the name of the processor, and the ID of the payment transaction in the processor's system. All of that information is exportable and usable in CRM integration mapping rules as well.

In your processor account's wallet

As your donors start to make crypto donations, their donated assets will accrue in your payment processor account's wallet, in exactly the cryptocurrency and amount they provided. 

Depending on the processor used, there may or may not be a clear indication that the wallet address used for a transaction was generated from Fundraise Up. As such, you may want to cross-reference Fundraise Up donation records, exports, or synced data to your CRM of choice to triage which donations came from Fundraise Up crypto checkout.

If your Coinbase Commerce account is a managed account, you will also have the option of auto-liquidation of any donations of Bitcoin or Ethereum (also known as Ether coin) to USD. If not, all other donations must be manually liquidated to standard currency if desired.

In exports 

Similar to the Fundraise Up interface, we will retain the flexibility in exports of treating crypto donations like any other donation in a currency other than your default currency wherever possible.

So, in exports, "Donation Amount" and "Donation Currency" will always show the actual amount in the cryptocurrency provided, whereas "Converted Donation Amount" (and any "Converted" column) will show the value in your default currency as of the time of donation.

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In CRM and marketing integrations

In any sync to an external system, our behavior will be governed by what degree of multi-currency support is present; as such, given that the majority of CRMs do not offer currency selectors with the full gamut of cryptocurrencies, we will err on the side of writing the converted donation amount into the amount field.

You will still always have the offramp of mapping "payment method" to an appropriate field (if not done automatically to such a standard field by the CRM integration) so that you can easily filter on and locate crypto donations specifically.