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offi[email protected] +44 330 606 0750 Maasai Schoolchildren 2008, Image courtesy of William Warby DONATIONS SHOULD ONLY REACH THOSE IN NEED.

Cubits Bitcoin Whitepaper: Charity

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Page 1: Cubits Bitcoin Whitepaper: Charity

[email protected]+44 330 606 0750

Maasai Schoolchildren 2008, Image courtesy of William Warby

DONATIONS SHOULD ONLY REACH THOSE IN NEED.

Page 2: Cubits Bitcoin Whitepaper: Charity

Cubits operates under the UK’s HMRevenue and Customs regulations.

2

[email protected]+44 330 606 0750

Cubits imagines a world where Bitcoin is accessible to anyone, anywhere. Our mission is to provide everyone with convenient access to Bitcoin. Cubits lays the infrastructure for the world to speak one common payment language.

O U R B U S I N E S S

Buy & SellBitcoin

Instant buy and sell options with 17

supported currencies.

C U B I T S C U B I T S P A Y

BitcoinWallet

Secure Bitcoin storage and portal for transfers

and payments.

BitcoinPayments

Bitcoin payment processing for merchants

and professionals.

Founded in 2014, Cubits is an all-inclusive platform to buy, sell, manage, and use Bitcoin. With locations in London and Berlin, our mission is to make Bitcoin easily accessible to everyone around the world. Cubits launched in November 2014 with a Bitcoin wallet and merchant services.

O U R M I S S I O N

C U B I T S P A Y

Page 3: Cubits Bitcoin Whitepaper: Charity

Cubits operates under the UK’s HMRevenue and Customs regulations.

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[email protected]+44 330 606 0750

Sean’s Outpost Year in Review

Cubits Pay empowers non-profit organizations with an online Bitcoin donation solution. We make it easy for your charity to quickly access funds at no cost, so you can focus on helping others.

0% transaction feesWith Cubits Pay, you pay ZERO processing fees. That means ALL proceeds go to those in need. This significantly reduces your overhead cost when fundraising.

Global audience for local projectsCubits Pay allows benefactors to donate online with one digital currency. Everyone can give to your cause no matter where they are in the world.

Sean’s Outpost is a charity that feeds the homeless in Escambia

County, Florida.

Since March 2013, people have donated 733 BTC($75,000 USD).

By charging $1,650 in fees, PayPal would have taken away

1,320 meals

...or fed 440 less people.

>$1,650 transaction fees(2.2% + $0.30/

transaction)

58,680 meals

60,000 meals

19,680 people can be fed

(3 meals/day)

20,000people can be fed

(3 meals/day)$0 transaction fees

Donations should only reach one place– those in need.

Quick and easy setupOur integration tools require no additional hardware— you’ll immediately have access to our collection of shopping carts, payment buttons, and API. Our support team is only a phone call away.

C U B I T S

T H E C O S T O F K I N D N E S S

O U R F E A T U R E S

Help from me to you instantlyCubits Pay is a way for people to make a direct donation to your program. You can access your funds immediately.

C U B I T S P A Y

R E D E F I N I N G D O N A T I O N S

Page 4: Cubits Bitcoin Whitepaper: Charity

Cubits operates under the UK’s HMRevenue and Customs regulations.

4

[email protected]+44 330 606 0750

C U B I T S P A Y

C U B I T S P A Y

Now, let’s compare Cubits Pay with PayPal. We use key metrics such as costs and time to let you decide which payment provider better suits your charity.

GlobalAccessibility

FundAccess

I M M E D I A T E L Y ? days

Fund availability subject to local payout infrastructure. Accounts can

be frozen at any time.

Processing Fees

0.0%1.9% - 2.2%

+ $0.30 per transactionNo fees for helping others. Rate dependent on transaction volume.

We are the future of donations.

Access funds immediately from anywhere for free.

A N D T H E W I N N E R I S . . .

E V E R Y W H E R E

Given that basic telecommunication services are available.

Limited

Dependent on country’s financial standing, payment infrastructure

and political stability.

Your Bitcoin can be accessed immediately.

T H E S H O W D O W N

Page 5: Cubits Bitcoin Whitepaper: Charity

Cubits operates under the UK’s HMRevenue and Customs regulations.

5

[email protected]+44 330 606 0750

P A Y M E N T & D O N A T I O N B U T T O N S

S H O P P I N G C A R T P L U G I N S

C U B I T S A P I

Pay with Bitcoin Donate Bitcoin

Payment and donation buttons are the most immediate means of accepting Bitcoin. From our Cubits Pay interface, you can set an individual item’s description and price, which will generate HTML code and a preview of the button.

If you have specific needs or require more control over the payment process, we have a custom API to suit your business’ needs. The Cubits API offers:

With ready-made libraries and documented example code, we make using the Cubits API a very straightforward process. Our professional support staff and engineers are ready to aid you in the process.

• Secure authentication mechanism

• Invoice creation with single API call

• Permanent payment screen URLs

• Custom reference fields

• Flexible and secure callback mechanism

• Customer support

• Payments and invoice change notifications

With Cubits Pay, you will have FREE access to our collection of shopping cart plugins, payment buttons, and API. No matter how big or small your business, we have a Bitcoin payment solution for you. No additional hardware is required. Our customer support is standing by to help you with any of your integration needs at [email protected].

Cubits Pay has integration tools for popular shopping carts. Don’t see your cart here? Our support team can customize a solution for you.

I N T E G R A T I O N T O O L S

Page 6: Cubits Bitcoin Whitepaper: Charity

Cubits operates under the UK’s HMRevenue and Customs regulations.

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[email protected]+44 330 606 0750

Once you have integrated your Cubits payment button, shopping cart plugin, or custom API, you are ready to accept Bitcoin!

Here is how the process works when your customer decides to pay using Bitcoin:

CUSTOMER HASBITCOIN

CUSTOMER DOES NOTHAVE BITCOIN

A customer can sign up for a Cubits wallet and have Bitcoin within minutes.

T H E P A Y M E N T P R O C E S S

Donations will get to those who need it most while reducing your overhead cost

Cash out in Bitcoin, your local currency, or a mixture of both.

ZERO transaction fees fo all non-profit organizations

A customer with a Cubits wallet can log into their account and donate within minutes

A customer decides to donate to your charity.

Page 7: Cubits Bitcoin Whitepaper: Charity

Cubits operates under the UK’s HMRevenue and Customs regulations.

7

[email protected]+44 330 606 0750

(1) Under the supervision of HMRC, the company is registered and operating under the Telecommunications Digital & IT Payment Service Provider under the Money Laundering Regulations 2007.

Source: http://www.hmrc.gov.uk/mlr/

(2) In March 2014, HMRC further clarified that no VAT is due on the value of Bitcoin when they are exchanged for fiat currencies like Pounds Sterling or Euros.

Source: https://www.gov.uk/government/publications/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies

U K H M R E V E N U E & C U S T O M S R E G U L A T I O N S

O U R R E G U L A T I O N C O M M I T M E N T

At Cubits, we see regulation as a necessity for cryptocurrencies to exist and survive in the long-run. Cubits is registered as Telecommunications Digital & IT Payment Service Provider under the Money Laundering Regulations 2007 with the HM Revenue & Customs and applies strict Know Your Customer and Anti-Money Laundering controls using Jumio. For data protection purposes, Cubits is also registered with the Information Commissioner’s Office. We have partnered with Bitcoin organizations like Diacle and Innovate Finance to uphold the highest level of regulatory transparency and compliance.