Students are beginning to embrace the use of Cryptocurrency, a digital currency that employs cryptography for security, to carry out transactions.
The most notable of these transactions is paying for their tuition. Among several cryptocurrencies available, Bitcoin is the most likely to be accepted at a college, university or other educational institution.
King’s College in New York, the US was the first institution to accept tuition in bitcoin payments in 2014. Afterward, a number of international schools have joined the bandwagon.
A survey revealed that the more progressive the learning institution, the more probable it will make the move to accept cryptocurrency. And as digital technology consumes everything it is more evident that digital currency is here to stay.
How cryptocurrency can help students
Although, not generally accepted yet, mostly because it’s new and unconventional means of carrying out transactions and secondly its instability. Cryptocurrency still possesses the potential to help college students complete their education.
Firstly, crypto can relatively reduce their college loan gotten by the student during their in college. The student could invest in different cryptocurrencies and cash out when it is time to pay tuition fees or pay off what they owe with the proceeds when bitcoin’s value spikes.
Bitcoin, a digital currency that is exchanged without the use of banks can be converted into cash when deposited into accounts at prices set in online trading. At a point, the value of bitcoin reached about $20,000. Although the values have plummeted since then, interest in these currencies remains high, especially for college students.
For college students, they don’t have to worry about taxation on digital currency as well.
What’s driving the increasing interest of crypto in the educational sector?
The recent rise in the influence of cryptocurrencies and blockchain can be said to be as a result of the continuous growth of digital technology. This has prompted the creation of blockchain technology which led to the birth of Cryptocurrency. More so in contemporary time students are interested in everything digital.
It is believed to be faster, cheaper, and better than any other means which will mostly take more time. It does not matter if it’s an application, a social media handling, or making payments by swiping their Smartphone. Contemporary youths prefer this method and have added value increases to cryptocurrencies.