WordPress and crypto users are having a good week. Internet lovers running websites have a new toy Which lets them do cool things with crypto donations.
DePay donation is the first of its kind. It is an open-source plugin that allows websites to accept P2P donations in crypto. But its strength is that it provides decentralized conversion of incoming cryptocurrency donations into tokens that the receiver has chosen.
Swiss Web3 payments startup Depay says the plugin is free to install. “It allows content creators and publishers to accept donations free of middlemen and therefore financially-censorship-resistant. Site owners interested in receiving crypto donations can install the Web3 Donations plugin from the official WordPress plugin directory with just a few clicks.
Sebastian Pep is the founder of DePay. “WordPress has shaped the Internet for nearly 20 years. We are thrilled to be able to enable the people running our WordPress installations to accept Web3 donations such as installing a plugin.
wordpress crypto donation
WordPress publishers accepting crypto donations usually go two different routes. First, they can use a centralized crypto payment gateway. Using this method, users have to rely on intermediaries who collect donations on behalf of the user. This is contrary to the basic idea of decentralization. Also, the range of cryptocurrencies that can be accepted is limited with this option.
Another route is to provide wallet addresses. It is published on the website in plain text. This can be a bit time-consuming, as users have to monitor different wallets. And they have to swap tokens to hedge against volatility.
a novel way
The company says that what they offer is novel. “DePay donations provide an alternative with a new paradigm enabled by decentralized finance. It maximizes decentralization, interoperability, and token acceptance while minimizing administrative burden on donation recipients.”
It is unclear whether the plugin “clips the ticket” along the way and charges a commission for cryptocurrency conversions. But either way, it seems that cryptocurrency adoption is now on an unstoppable march.
WordPress has been a hotbed of hacking stories in recent times, so be sure to do your research.
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