Bitcoin Crowdfunding Comes to South America

Idea.me, a regional crowdfunding platform in South America has announced that it will accept bitcoin.

Dec 19, 2013 at 11:00 a.m. UTC
Updated Sep 10, 2021 at 12:04 p.m. UTC

Idea.me, a regional crowdfunding platform in South America, has embraced bitcoin payments.

Although the platform uses a Montenegrin domain, it's an Argentinean outfit currently available in seven South American countries.

In fact, Idea.me is the only regional crowdfunding platform in South America, according to TechCrunch.

So far, the company has managed to raise $750,000 and it hopes to raise a further $2.4m in Series A funding next March. To date, the platform has funded over 450 projects using an estimated $2m.

Idea.me recently added bitcoin as an alternative to more traditional payment methods like credit cards and PayPal. Chief Operating Office Pia Giudice claimed Idea.me is currently the only crowdfunding platform in the Americas to include bitcoin support. She said:

“Our business unit is unique in the world: Idea.me is the only platform that executes campaigns with multinational companies to fund specific projects.”

To make it all happen Idea.ma uses BitPay, which allows it to convert bitcoins to dollars automatically. In other words, although the pledger pays in bitcoin, the project receiving the funding gets the contribution in dollars.

This helps protect all parties involved in the process from bitcoin volatility and wild price swings. In essence, bitcoin is used as a money transfer vehicle in this process.

According to the Idea.me blog, the company's decision to embrace the virtual currency was a direct result of bitcoin’s recent surge in popularity.

Idea.me hopes its bitcoin support will allow more backers to join the platform as bitcoin payments are available for all projects listed on the platform.

It is worth pointing out that major crowdfunding platforms like Indiegogo and Kickstarter do not support bitcoin donations at this time.

However, they do support various bitcoin-related projects, such as Nio Card, a bitcoin payment card, open-source ASIC mining rigs and various bitcoin related start-ups.

Crowd Image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
What's the Crypto 'Travel Rule,' and What Does It Mean for You?

The measure is essential to prevent bad actors from using digital assets to launder money. It affects everyone who dabbles in cryptocurrencies from exchanges to everyday investors.

The measure is essential to prevent bad actors from using digital assets to launder money. It affects everyone who dabbles in cryptocurrencies from exchanges to everyday investors.

CoinDesk - Unknown
2
CoinDesk - Unknown
Top Latin American Crypto Exchange Bitso Lays Off 80 Employees

The company, which had more than 700 workers before the cuts, counts four million users in the region.

The company, which had more than 700 workers before the cuts, counts four million users in the region.

CoinDesk - Unknown
3
CoinDesk - Unknown
SuperRare in SoHo: NFTs in the Real World

Visions from Remembered Futures is leaping into the metaverse and simultaneously out into the real world.

Visions from Remembered Futures is leaping into the metaverse and simultaneously out into the real world.

CoinDesk - Unknown
4
CoinDesk - Unknown
Tether ingresa a América Latina con una stablecoin vinculada al peso mexicano

El negocio multimillonario de remesas en el país y las dificultades para transferir dinero crean una "oportunidad única", dijo la compañía.

El negocio multimillonario de remesas en el país y las dificultades para transferir dinero crean una "oportunidad única", dijo la compañía.

CoinDesk - Unknown