WordPress and crypto users are having a good week. Internet aficionados who run websites have a new toy that lets them do cool stuff with crypto donations.
DePay Donations is the first of its kind. It is an open-source plugin that allows websites to accept P2P donations in crypto. But the beauty of this is that it offers decentralized conversion of incoming cryptocurrency donations into tokens that the receiver has selected.
The Swiss Web3 payment startup DePay says the plug in is free to install. “It allows content creators and publishers to accept middleman-free and therefore financial-censorship-resistant donations. Site owners interested in receiving crypto donations can install the Web3 donation plugin from the official WordPress plugin directory with just a few clicks.”
Sebastian Pape is the Founder at DePay. “WordPress has shaped the internet for almost 20 years now. We are thrilled to enable people running their WordPress installation to accept Web3 donations as simple as installing a plugin.”
WordPress Crypto Donations
WordPress publishers accepting crypto donations usually go two different routes. Firstly, they can use a centralized crypto payment gateway. Using this method, users have to trust intermediaries who take the donations on the user’s behalf. This contradicts the core idea of decentralization. Also, the range of cryptocurrencies that can be accepted is limited with this option.
Another route is to provide wallet addresses. This gets published in plain text on the website. This can be a little time-consuming, as users have to monitor different wallets. And they have to convert tokens to hedge against volatility.
A Novel Way
The company says what they offer is novel. “DePay Donations offers an alternative with a new paradigm enabled by decentralized finance. It maximizes decentralization, interoperability, and token acceptance while minimizing the administrative burden on the donation recipient.”
It is unclear whether the plugin “clips the ticket” on the way through and charges a commission for the cryptocurrency conversion. But either way, it seems like the adoption of cryptocurrencies is now an unstoppable march.
WordPress has been the focus of hacking stories in recent times, so be sure to do your research.