Bitcoin is a digital currency, 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 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 is Bitcoin?
Bitcoin is a distributed peer-to-peer digital currency that can be transferred instantly and securely between any two people in the world. It’s like electronic cash that you can use to pay friends or merchants.
Why is The Turing Trust accepting bitcoin 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 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 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.
Can I donate less than one bitcoin?
Yes. 1 bitcoin = 1,000,000 bits. This high divisibility allows people to donate in smaller amounts which isn’t always possible with traditional payment methods.
Is Bitcoin legal?
Yes and we discourage anyone from using it for illegal purposes. Every bitcoin transaction is stored on a public ledger meaning it leaves a data trail. In its present form we believe Bitcoin is better used as a tool for transparency rather than a tool for anonymity.
HMRC has issued guidelines for organizations accepting bitcoin and other cryptocurrencies. More info can be found here.
Is it safe and secure to donate bitcoin to The Turing Trust?
Yes, all donations will be secured using multi-signature technology by a reputable wallet provider.
Are bitcoin 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 bitcoin donation exceeds a certain amount.