Cryptocurrency, sometimes called crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.

Did you know, Cumbria University became the first university in the world to accept Bitcoin for tuition fees in 2014. There are Bitcoin ATMs in Dublin and London as well as lots of smaller retailers that accept them. Travel website Expedia accepts Bitcoin, along with the RNLI The Water Project, Teach Africa and Virtual Doctors.

Yes, they work the same as a cash donation in that anyone can send them to us without providing their details. If people wish to hear from us in the future, they can provide their details voluntarily.

The value of one bitcoin varies. An up-to-date value in pounds or euros can be found at coindesk.com.

The ‘wallet’ – which is a kind of online collecting tin for Bitcoin – we have chosen to use allows for donations of 0.00000001 of a bitcoin.

Yes it is, There is currently no legal restriction for merchants to accept payments in Bitcoins in the UK, Ireland or the EU.

HMRC have issued guidance to companies on how to handle, record and tax Bitcoin transactions, and operations which the RNLI will comply with.

More details on HMRC guidance are available here.

Yes, the ability to accept Bitcoin is in addition to all other existing online donation mechanisms.