Bitcoin and Litecoin are digital currencies, based on blockchain technology. Your donation will help to bring disadvantaged students in sub-Saharan Africa into the digital world.
Cryptocurrencies have seen enormous growth over recent years and we hope that accepting Bitcoin and Litecoin donations will help us to engage with a wider audience and enable us to receive donations we may not otherwise receive.
Alan Turing was a pioneering computer scientist, cryptographer, and mathematician who contributed enormously to these fields in his time. His work has arguably paved the way for Satoshi Nakamoto’s invention of Bitcoin and it is perhaps fitting that this exciting technology is now being used to help people all around the world.
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What are Bitcoin and Litecoin?
Bitcoin and Litecoin are distributed peer-to-peer digital currencies that can be transferred instantly and securely between any two people in the world. They are like electronic cash that you can use to pay friends or merchants.
Why is The Turing Trust accepting Bitcoin and Litecoin donations?
We are passionate about our mission to help bridge the digital divide in Africa. As an organisation with such close links to Alan Turing it seems appropriate to engage as much as possible with current technologies for fund-raising and furthering our work. By accepting Bitcoin and Litecoin we make it possible for people all over the world to support us by allowing them to donate in small or large amounts at their discretion and anonymously.
How does the Turing Trust use Bitcoin and Litecoin donations?
When the amount in our Bitcoin wallet reaches a certain threshold, we convert our Bitcoins into pounds sterling that are then used to support our operations. This approach minimises transaction costs and reduces our exposure to the risk of price changes.
How much is one Bitcoin worth?
The Bitcoin exchange rate is volatile and can change dramatically in a matter of days. This is demonstrated by the exchange rate charts over previous years.
The present value of one Bitcoin can be found here.
How much is one Litecoin worth?
The Litecoin exchange rate is also volatile, but tends to follow the Bitcoin exchange rate. The exchange rate charts for Litecoin can be found here.
The present value of one Litecoin can be found here.
Are Bitcoin and Litecoin legal?
Yes and we discourage anyone from using cryptocurrencies for illegal purposes. Every transaction is stored on a public ledger meaning it leaves a data trail.
HMRC has issued guidelines for organizations accepting Bitcoin and other cryptocurrencies. More information can be found here.
Is it safe and secure to donate Bitcoin and Litecoin to The Turing Trust?
Yes, all donations are secured by a reputable wallet provider.
Are Bitcoin and Litecoin donations anonymous?
Donations can be sent and received with complete privacy.
What about money laundering and proceeds of crime legistlation?
We monitor all donations regularly and will notify the Charity Commission if a cyryptocurrency donation exceeds a certain amount.