DiffuseThe | BitCoin Donation Step-By-Step Guide

FAGuru · December 10, 2013

So you just want to donate? Well that is great!! Thanks so much! Before we get into it, You must understand that its not as simple as paypal where you can send a payment as guest using a creditcard or bank account. Since Bitcoin is a currency that needs to be exchanged, there are a few more rules to doing it. Getting started is pretty similar to signing up for a PayPal account and weve selected well known, respected and trusted providers in this space upon which to base this guide.

We chose MTGOX for our international folks and Coinbase for our U.S. users. The difference is that Coinbase ONLY allows U.S. bank accounts to be linked to their service at the moment. Our non-US based members will need to use MTGOX. U.S. users can use either, but we recommend coinbase. Both are very reputable so there isnt a problem there. Remember, we need to exchange your countries currency for bitcoins. If you have a way of getting bitcoins already, then you ONLY need a wallet. Any user can sign up with Coinbase if that is the case.

Lets get started. Please be aware that because of the need for currency exchange, this process will verify your identity using methods that could take up to 24-48 hours to verify. It is impossible to make a donation using bitcoins immediately UNLESS you have no need for exchanging local currency for bitcoins, as in you will get bitcoins from someone that already has them. If we think about it for a second, these exchanges need to know who we are, just like paypal wants to know who you are if you will be doing many transactions with them. The good thing about Bitcoin is its anonymity. Even tho you are telling these exchanges exactly who you are, the transactions made using bitcoins are VERY close to having full anonymity. What we mean by that is that someone would have to go to GREAT lengths in order to find out who you are just by your transactions and we'll show you more ways to make it even harder as this guide progresses.

This guide is separated into steps.

Step 1: Get BTCs, pick ONE of the following:
Option 1 - MTGOX exchange & wallet, recommended for non-US based members; or
Option 2 - Coinbase exchange & wallet, recommended for US based members; or
Option 3 - BitStamp exchange only - for those whom already have a wallet.
Option 4 - VirWoX - Very fast exchange that takes PayPal and converts it to Lindens (SLLs) then to BTC

Step 2: Donating BTCs to DTN

Step 1 - OPTION 1: Using MTGOX
Note: the time from opening an account to donating; approx 7-10 business days; 3-4 days for account verification, rest of time for bank transfer. MTGOX is recommended for non-US based DTN members.

o Point your web browser to https://www.mtgox.com - or click HERE.
o Click on the Green Sign Up Now bubble.
o You will be taken to this screen:

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Fill everything in to create your account

o After choosing Submit, you will need to check your email and click the link in the email you received from MTGOX to verify the email address. Go ahead and do that now.
o Once you have logged in to your new MTGOX account, you will need to verify it in order to do bank transfers. Click on your username in the top right hand corner and choose Account Settings.
o Click on the Get Verified orange bubble from the screenshot below and fill out the information, then click NEXT

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o After clicking Next, you will be taken to the first step of verification. Fill out the sheet in its entirety choosing the ID that you'd like to send. Click Next when you're done.

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o After clicking Next, you will be taken to the second step of verification. Fill out the sheet in its entirety choosing the form that you'd like to send. Click Next when you're done.

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o After clicking Next, you will be taken to a Finish screen. Click Finish and you will have everything sent to them. Now you'll need to wait for them to complete the verification process, it can take a few days.

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Once your account is verified, you may transfer money into it via Bank Transfer. Clicking on Trade, then Funding Options, then Add Funds will allow you to select the proper bank transfer for your country (either 'bank transfer' for non euro countries or 'euro bank transfer' for euro countries). it will give you their bank info at the bottom of the screen and you can transfer funds from your bank to theirs using this information

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Now that you have money in your mtgox account, you can buy Bitcoins with it. Clicking on the Trade link at the top then Buy coins, you then can put in however many coins you would like to buy and click buy. Checking the Market Share checkbox will buy them at the current market rate instantly. Leaving it unchecked allows you to put in a price point to which you are willing to buy at. MTGOX will wait until the price matches your suggested buy price then purchase the bitcoins for you.

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After you purchase the bitcoins, you can then send your bitcoins either to another wallet or directly to BTN The easiest way to Donate to DTN is through DTN's Donate page on the DTN website, this is described in Step 2.

To send somewhere else, click on Trade at the top, then Funding Options, Then Withdraw Funds. Make sure the pull down says Bitcoins, put in the amount to transfer and the address and you're all set!

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You've completed Option 1!, Skip to Step 2!

Step 1 - OPTION 2: Using Coinbase
Note: the time from opening an account to donating; approx 7 business days; 2-3 days for bank account verification, rest of time for BTC purchase. Coinbase is recommended for people in the US.

Using coinbase is very much the same as MTGOX. There is less identification involved as its restricted to US residents only, so it might be more appealing to some people. For example We didn't need to send in our ID or proof of residency like we did with MTGOX.

Regardless, here are the steps involved!

o Point your browser to https://coinbase.com or click HERE.
o Click on the SIGN UP link at the top left and Sign up for an account by filling in your email address and password.

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You will get a verify email to that address with a link that you will need to click. Go ahead and do that now.

o Next, click on the Buy/Sell bitcoin link on the left.

Notice it says you'll need to Verify a Bank Account AND Verify a Phone Number before you make a purchase.

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Go ahead and do that by filling in the necessary information after clicking the verify bank account blue bubble link and the choosing Link A Bank Account.

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Fill this in:

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After the verification process has taken place:

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Next, Verify your phone number by clicking on the Verify Phone Number image and putting in your phone number:

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Clicking Next will have Coinbase send a link to an app to your phone. The easiest method here is to click the SMS code button and it will send you a second text with a code in it. Input that code here:

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After clicking verify, you'll be taken to this screen which will tell you everything is good!

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Ok - Lets buy some coins!

Click on Buy Sell again:

Input how many you want to purchase (remember you don't have to choose whole amounts. You can input a decimal place eg:
0.5 BTC - is half a bitcoin worth approx 50 euro
0.05 BTC - is 5% of a bitcoin, with approx 5 euro
0.1 BTC - is 10% of a bitcoin, worth approx 10 euro

Keep in mind that BTC is a volatile currency, meaning that its value can change quite rapidly - it fluctuates much more than traditional currency (like USD, Pounds, Euro's etc) so try and use them as quickly as possible to ensure you're getting what you paid for (in case they drop in value!).

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Once you input how many you want and click Buy, this screen will show up asking you to confirm:

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Once you click confirm, a final screen will congratulate you for purchasing.

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Once the bitcoins are added to your account, you can transfer them to another wallet or directly to DTN. The easiest way to Donate to DTN is through DTN's Donate page on the DTN website, this is described in Step 3.

To send somewhere else, click on Transactions on the left and then Send Money at the top:

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