Cryptocurrencies are here to stay. It has been years since society adopted the idea of digital money. Of course, cryptocurrencies are not the most popular payment method at the moment. However, as fast as technological progress goes, the world quickly learns to accept digital novelties. These days most people are familiar with such terms as cryptocurrency or Bitcoins. In fact, so many people already use Bitcoins for payment online.
What’s more, people can use Bitcoins for much more than just online shopping. Nowadays, many institutions also accept Bitcoins as the payment method for tuition. In fact, in the three years, the number of universities accepting Bitcoins for tuition has been rapidly growing. Here are just a few universities worldwide where you can pay for studies with Bitcoins.
Before everything else, let’s refresh our memory on what cryptocurrency works and what it is. So, cryptocurrency is a form of digital currency that doesn’t take any physical form.
Cryptocurrency can serve as a payment method and as an investment. In case you want to learn more about it, you can always find a reliable writer after reading a 99papers review and contact those professionals for help.
University of Cumbria, UK
The University of Cumbria portrays itself as a very modern, ambitious university. Indeed, it was established less than twenty years ago. Still, this university keeps up with the times perfectly. Back in 2014, when most of the world was only learning about Bitcoins and the concept of digital money, the University of Cumbria had already accepted Bitcoins as its tuition method.
At the time, the university allowed the MA students on discipline related to cryptocurrency to pay with Bitcoins, which was incredibly innovative at the time. In fact, the University of Cumbria was probably one of the first universities to do so, which has definitely set an example to other schools.
University of Nicosia, Cyprus
This private university in Cyprus became the first university in the world to accept Bitcoins as the payment method. In fact, it didn’t just change its tuition fees policy to allow digital currency. It has also launched a new MA discipline in Digital Currencies. Indeed, the University of Nicosia has become the leading university in embracing cryptocurrency inside its walls.
It didn’t just accept the payments in Bitcoin but invited more students to get a degree in cryptocurrency. As if living and studying in the Mediterranean is not amazing on its own, this university also makes it very easy for international students to pay and get enrolled in the classes.
The Lucerne University of Applied Sciences and Arts, Switzerland
Back in 2017, The Lucerne University announced its decision to embrace Bitcoins for tuition. In a way, the year 2017 has become a transitional year for many institutions worldwide. Lucerne University did not become an exemption. Though, it decided to meet the world of cryptocurrency halfway.
It was accepting Bitcoins for tuition, but it wasn’t dealing with the digital money on its own. Instead, a processing Bitcoin firm served as a banking system of the university. Once a week or more, the firm would convert Bitcoins into Swiss francs and send them to the university’s account.
This innovative approach was a good deal for both sides, students and university. The school has an easy transition into dealing with digital money, and students can pay with Bitcoins to their convenience.
Here are more universities that currently accept Bitcoins for tuition:
- European School of Management and Technology, Germany
- Princeton University, the US
- Varna University, Bulgaria
- Flinders University, Australia
- FPT University, Vietnam
- Berkeley University, the US
As you can see, many countries have already accepted Bitcoins as a legit digital currency. Most universities on that list are the first schools in their countries to accept Bitcoins for tuition. Though they can be first, they definitely won’t be the last ones.
The Bottom Line
As you can see, the concept of digital currency is already accumulating in our world. Indeed, even if the cryptocurrency is something relatively new to our understanding, the currency as it is has been around for centuries. It was only a matter of time since the technological world would change, once again, the social idea of what currency is. You can even order a paper at essaypro to learn more about the evolution of currency over centuries.
Cryptocurrency has already started to change the financial systems as we know them. It won’t be late as the world will switch to digital money completely. Overall, cryptocurrency is the currency of the future, and it has already started. People and institutions that accept it soon will win more in the long run.