Bitcoin is changing how society perceives money. This virtual currency hit the news headlines recently due to its high value. Despite the missing legal regulation and high volatility, this virtual currency has continued to rise in popularity and importance.
Today, schools allow students to pay for their fees with Bitcoin. Others allow their alumni to make donations using this digital currency. Perhaps, these learning institutions want to prepare their students and society for the future payment method.
Bitcoin presents a decentralized, peer-to-peer, virtual currency. Like a text message, you can send Bitcoins to another user anywhere in the world without involving an intermediary like a bank. What’s more, a Bitcoin transaction is almost instant.
For most students, college tuition is expensive. Ideally, a student pays thousands of dollars to get a degree education, yet some families can’t afford this amount. Nevertheless, some learners use platforms like Bitcoin Prime to trade this virtual currency for profits. Perhaps, you can visit http://bitcoinsystem.app/ for more information about this platform.
After accruing Bitcoin profits, some learners might want to pay for college tuition with this virtual currency. Now, Bitcoin has not acquired mainstream adoption globally. That means some learners need conventional money to pay for education in their learning institutions. However, some universities accept tuition fees in Bitcoin payment.
Universities Where Students Pay Tuition Fees with Bitcoin
While Bitcoin’s value has plummeted over the years, its interest remains high. From a taxation standpoint, a direct transaction can help. But not every learning institution accepts Bitcoin payments. Here’s a list of universities that accept tuition fee payments in Bitcoin.
● The University of Cumbria in the United Kingdom
● The University of Nicosia in Cyprus
● The King’s College in New York
● Berkley University in the US
● Flinders University in Australia
● FPT University in Vietnam
● Verna University in Bulgaria
● Princeton University
● ESMT Berling, Germany
● Switzerland’s University of Applied Sciences and Arts
While you can pay for tuition fees with Bitcoin in these learning institutions, be wary of certain things. For instance, these institutions might not handle Bitcoins to avoid losses from the fluctuating exchange rates—for example, the University of Lucerne partners with Bitcoin Suisse AG that receives Bitcoins on its behalf. Consequently, the institution performs weekly transfers into Swiss francs. The university can also do daily switches if Bitcoins accumulate to over 10,000 Swiss francs.
In most cases, universities assess the received Bitcoin at the actual digital currency’s value. Therefore, ensure that the Bitcoin’s value matches your tuition fees’ cost when paying with this cryptocurrency.
Bitcoin is Among the Top Emerging Technologies
The primary reason for accepting Bitcoin payments for tuition fees is that this cryptocurrency is among the emerging technologies. While the universities taking this virtual currency don’t expect it to become an acceptable payment method overnight, its popularity increases globally.
These institutions want society to learn and understand how Bitcoin and other virtual currencies work. That’s because some people have earned significant profits from this virtual currency through trading and investing.
Bitcoin can potentially change conventional money’s future by eliminating intermediaries like banks and governments. What’s more, this currency can shift wealth concentration in society. Nevertheless, achieving this goal requires the involvement of more institutions. By accepting tuition payments in Bitcoin, colleges and universities are leading the way for other institutions. What’s more, some of these learning institutions have Bitcoin-related courses. They also have research programs aimed to unravel how the world is embracing Bitcoin and its impact. Business schools are mainly reacting to this trend positively. And this hints at a bright future for Bitcoin.