What is Crypto?
Crypto, short for cryptocurrency, is commonly referred to as digital currency that is not controlled by centralized banks or any one central authority. Bitcoin is the world’s most widely accepted cryptocurrency. All transactions of digital currencies are recorded in a distributed ledger called a blockchain.
Why Should Universities Accept Cryptocurrency Payments?
Universities are already accepting cryptocurrency and everyday more are headed in that direction. The widespread adoption of blockchain technology and digital assets has encouraged universities to plan for the future and accept cryptocurrency payments.
In January 2014, the University of Cumbria in the United Kingdom announced that students enrolled in specific master’s programs related to cryptocurrencies would be able to pay their tuition fees with Bitcoin. The university became the first public university to accept Bitcoin as a form of tuition payment.
There’s also a growing trend that donors are now moving toward crypto due to its anonymous nature. Universities must now accept the digital currencies because donations make up a bulk of universities’ fundraising revenues and don’t want to miss out on this opportunity.
Last year, the University of Pennsylvania received $5 million worth of Bitcoin as a donation from an anonymous donor. Universities accept Bitcoin payments to reduce the burden on international students from having to pay extra in conversion fees. Crypto payment for tuition fees will arrive quicker since universities don’t have to wait on banks to transfer the funds which can take upwards of 5 business days.
What Universities Accept Bitcoin Payments?
- King’s College in New York, United States
- UC Berkeley of California, United States
- University of Pennsylvania, United States
- University of Nicosia, Cyprus
- Financia Business School, France
- European School of Management and Technology, Germany
- Innovation and Entrepreneur Business School, Spain
- University of Applied Sciences and Art, Switzerland
- The University of Cumbria, United Kingdom
- FPT University, Vietnam
Which U.S. Universities Accepts Bitcoin Tuition Payments?
- King’s College in New York
- University of Pennsylvania
Do Universities Accept Crypto Payments Directly?
Currently, universities do not have the financial infrastructure to process crypto payments and must rely on crypto merchant companies to handle transactions.
The Wharton School of Business becomes the first ivy league institution to adopt crypto openly and partners with Coinbase to process crypto payments. Soon, universities can create their own digital currency so students can use it to pay for meals, tuition, and tickets for school sporting events.
How Can I Earn Bitcoin for free?
You can earn free Bitcoin simply by using your personal computer for mining. A device used to mine, aka miner, utilizes its processing power to be the first to solve the complex mathematical equation to earn block rewards. Internet access is required for crypto mining operations to verify transactions on the blockchain to earn Bitcoin rewards.
Students can use their computers and internet access originally for higher education to mine cryptocurrency in the background.
In addition, students and their families can also redeem their Swagbucks earnings for Bitcoin from CryptoVoucher. Swagbucks pays members PayPal, gift cards, or Bitcoin for taking online surveys, shopping (cash back earnings), and trying new offers. Consider the Swagbucks Coinbase Offer if you want to use Coinbase for a wallet. You can get $30 free from Swagbucks when you sign up for Coinbase through the Swagbucks link.
Final Thoughts on College Accepting Cryptocurrency Payments
As cryptocurrency digital assets continue to grow, more institutions will accept cryptocurrency as tuition payment. Expect to see universities offer courses focused on blockchain technology. In the near future, it’s possible to enroll in a new course to develop the next meme Dogecoin. The financial industry is currently experiencing a growing demand for people with blockchain expertise as more digital assets.
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