International students will find it easier to pay bitcoins at universities. The mass adoption of cryptocurrency is still in its early stages. Many thought they had missed the digital currency bus after Bitcoin broke its own record, rallying to US$63,000 in mid April. It fell dramatically, but is now at a moderate level. Tether, Dogecoin and Ethereum are just a few of the other cryptocurrencies. They are also on the winning path. Despite cryptocurrency becoming more popular, bitcoin is still a top choice for crypto investors. El Salvador recently made bitcoin legal tender, and Paypal also included it in their payment platform. These are significant steps that highlight the importance of bitcoin payments within the decentralized finance system. The acceptance of bitcoin by universities is something that is less well-known. Universities began accepting bitcoin payments as tuition fees from the beginning. This adoption was made to keep up with market trends and educate students about them. One other reason could be to reduce the cost of international students who have to pay extra for conversion. Some universities also accept bitcoin donations. Analytics Insight lists the top schools and universities that accept bitcoin tuition fees. Also, a lot of organizations that provide educational services of the type: buy persuasive essay prepare for exams, help with tutoring, have also begun to accept cryptocurrencies.
University of Nicosia (Cyprus)
The University of Nicosia was the first university to accept Bitcoin tuition fees. The University of Nicosia began accepting bitcoin payments in 2013. UNic students are required to pay their bitcoin fees either at the university’s finance department or via an online merchant processing company. UNic accepted bitcoin payments for tuition fees. However, UNic converted the digital token immediately to Euro due to its volatility.
King’s College, New York
In its early days, the United States was among the many countries to jump into cryptocurrency. However, there are very few colleges that accept bitcoin payments. King’s College in New York was the first American-based university to accept bitcoin payments. The college was able accept bitcoin payments, donations, and other expenses by partnering with Coin.co, a bitcoin trading platform. This was done to educate students about the latest trends and technological developments in this market.
Spain, Innovation and Entrepreneur Business School
One of the first to accept Bitcoin payments was Innovation and Entrepreneur Business School (IEBS), a Spanish college. They offer courses online for students all over the world and accept bitcoin for tuition fees. The school offers a fixed rate for international students to prevent them from experiencing unwelcome stress because of bitcoin’s volatility. They don’t need to worry about foreign exchange rates.
European School of Management and Technology Germany
The European School of Management and Technology, Berlin, Germany (ESMT), began accepting bitcoin payments in 2016 for all certificate degrees and executive education programs. Its transactability and ease-of-use were key reasons why it was adopted. They jumped at the chance to use the 10-minute transaction format, which eased management’s burden. ESMT is a leading German University offering management and tech-based courses.
Financia Business School, France
Financia Business School is one of France’s most prestigious colleges and offers blockchain-based education degrees. The college was inspired to accept bitcoin payments by students in 2018 after realizing its importance. The college’s acceptance of bitcoin is also due to its international student population. Nearly one-third of Financia’s students are from outside the country. This makes it difficult for them to convert their currency to Euro. To reduce the cost of complicated and expensive money transfers, the college chose bitcoin payments. To facilitate the bitcoin payment process, Financia has partnered up with Coin Capital, a blockchain and digital asset technology company.
The University of Cumbria (United Kingdom)
The University of Cumbria was the first school to accept Bitcoin as payment for fees in 2014. The university initially accepted bitcoin payments only for two courses that dealt with complementary currencies in economic systems. Later, it extended the policy to all classes. It is one of the best colleges in the North West, for further education or employment. The University of Cumbria also has a campus in London and Lake North West.
FPT University Vietnam
FPT, one of Vietnam’s most prestigious technology universities, started accepting bitcoin as a payment method in 2017. This surprising decision came at a time when the country was looking for ways to control virtual money. FPT allows all foreign students to use Bitcoins first, if they so desire. After realizing that many of the university’s students are from Africa, the move was made to address money conversion issues. Although the university was attacked for accepting bitcoin payments and going against the government, many people thought it was a wise move.