Topic: American University, Bentley now accepts crypto's for tuition payments. (Read 313 times)

That's a piece of good news to see some organizations and especially educational organizations like universities are accepting bitcoin and cryptocurrency as a payment method, there are still a few things to talk about regarding Bentley accepting bitcoin, even if they accept bitcoin they still ask for many personal information and force the clients to pass the KYC so they do not completely accept the base of the anonymous transactions, but as a part of bitcoin adoption, this a be a great a step forward for them which is probably due to the demand from the users.

This is great. I think this would pave the way for other academic institutions to follow. And it's a nice move on the part of the college to accept cryptocurrencies in tuition payments. Hopefully other institutions would follow and slowly the adoption of bitcoin would grow. Good move Bentley university.

If the university has set up a processing unit for Bitcoin, just as it happened with Tesla, then I can understand that they are really focused on business and not profits, but they use a central party to process data, this party receives Bitcoin and converts it to US dollars in the accounts of the university and therefore they are trying to provide more payment methods for students.

In general, we hope that some universities will start allocating 1% of their surplus funds as Bitcoin instead of cash.

I wonder how much would be the tuition fee since it will be entirely dependent on the value of cryptocurrencies.

Nevertheless, anything that supports cryptocurrencies as payment for a service/product is definitely beneficial in the long-run. Imagine, cryptocurrencies started as an investment mechanism; now it slowly evolves into an alternative currency for payments for products and services. Now, we see some countries start to accept it as legal tender. Eventually, we will see its slow but effective integration into our monetary and financial systems where the government would most likely accept it as a form of currency.

I believe the time is not so far again with this current development accepting it in their institution, soon they will begin the upgrade of their institution and Blockchain technology will be available there. Soon more institutions will demand for bitcoin to be used as a means of payment too I believe the time is now the messages are clear.

These type of adoptions are the reason why bitcoin could go up a lot more. I mean I get that it may not look great right now, I know that we are dropping right now. But think about it for a second, even a huge American college is accepting bitcoin, which means that we are getting more and more legit every single day when these places keep on accepting bitcoin.

This is why I believe that we should be a bit more happy about this, yes I get that the prices dropping causes people to make it a bit more tough to be happy right now, but the drop is temporary, the adoption is permanent in most cases and we should be glad about it for sure, allows us to realize even younger kids will adopt bitcoin to be able to pay their tuition.

It's happening!
Life in crypto is coming from all sides. As always, every time institutions accept crypto as a means of payment, it is welcome news for the crypto community.
Because innovation comes hand in hand, today it is Bentley University, tomorrow the same University could be adding blockchain to its entire system to achieve improvements in its administration.
It is the beginning of a change that will make our crypto community stronger and will give more people the opportunity to join and Universities are the best place to create the movement.

To get an idea of ​​how many Universities around the world are graduating their students in blockchain.
It is the best mission to teach about cryptocurrencies and other elements to provide solutions in the current time.
An article by CoinDesk tells us:

Lol, It might be small but this is a college, if I was in that college I'll be the happiest person, coz I can live the Bitcoin live I aspire for as almost everything can be accepted in Bitcoin Ethereum and United States Dollar.
Could it be that most or majority of people using bitcoin and Crypto are adults ? Maybe  more of them.

Flashy clothes are not my thing , but this ain't no bad move one can get he's desired wears with Bitcoin.
They are indeed big moves, gradually as we await full adoption of Bitcoin. I'm Nigerian as I can wait for this to be implemented in my ends, University so I can go borrow books and start paying borrowing/ subscription fee's with Bitcoin in the library.

and it seems that people want to get excited about this small unknown college more so than something like Gucci retail stores adopting crypto.

Yeah, I'm also confused why I chose USD*C* I also use USD*T* as payment for my purchases in LA

That's a great news to hear. Can you please tell me that is there any chances to add more payment methods using other Cryptocurrencies like Dogecoin or BNB ? I think this types of adoption will help Bitcoin more to be the popular currency in near future.

This would be extremely helpful for the people who are international students as well, since at the end of the day they are going to be able to pay a lot of money without paying the government fee. I was in an international institute and there we didn't have to just worry about the fee but we had to also worry who how late it was gonna go and sometimes the return would take ages as well. Therefore I do think that one have to understand how helpful it will be for the international students.

But due to volatility they might have a slight problem as well, since the price is going as down as 8% they might try and encash a big amount after recieving the payment therby making the whole thing a bit complicated.

Since it's mentioned in that article that Bentley University partnered with Coinbase in order to accept crypto, no wonder that they "suggested" them to accept only USDC when it comes to stablecoins despite high fees and not USDT or some others that are much cheaper to send.

Since they partnered with Coinbase to sort the crypto payments I doubt that they will accept crypto payments directly so while student will be able to pay in crypto what university will get is fiat so that crypto volatility won't be any problem for them whatsoever.

I think they can have a chance to adopt stablecoins as early acceptance in the cryptocurrency field because adoption of crypto payment acceptance is very risky except for companies that are already cryptocurrency based. However, this is a good opportunity for any educational institution or other company that is planning to open up the opportunity to adopt payments in Bitcoin when the market conditions decline, because it will get double profits when the market recovers.

I am perhaps more interested in finding out why they chose to take USD*C* (Ethereum network) instead of USD*T* (Tron network), especially how lots of people came to pay me in USDT recently - it has more activity in general (even Chinese traders prefer it I heard).

That's a good move by the university and it will definitely create some awareness since so many people will come to know about this news.
At the same time, along with accepting crypto as a payment, the university should have also launched courses on cryptocurrencies and blockchain.
This would have encouraged others to do the same. This would have made people more aware of how crypto and blockchain works.
This would have increased crypto adoption as a whole.

Recently, I read on reddit that Gucci now accepts bitcoin and after a while they changed their mind after the Thursday market dump and said it's just for 5 stores. This will be the issue of any institution that accepts bitcoin as a payment method. They will face challenges that may cause double mindset in running their business. Moreover, the best cryptocurrency for non cryptocurrency platforms should be stable coins or nothing else. Unless the company or School wants to invest into bitcoin for long term profits using tuition fees as a means of gathering bitcoin then it's a nice move. Adopting it as a means of running the school's day to day activities like paying bills can be devastating when the market plunges down.

Waw! this is great, despite all the fud and negativity from some people btc keeps gaining recognition and the acceptance keeps growing. I keep getting impressed by the number of businesses, organizations, institutions, government and non-government parastatals accepting btc lately. Now Bentley has join the list accepting btc. The list will keep growing as the years passes.

This is a great development!
Many student who knows about digital asset will never pay using none stable coin, for instance I can only with USDC since the price does not change or reduces its value. Paying with Bitcoin Ethereum is bit good but student having much disadvantages on spending much volume that in a stable currency. So any students around forum schooling over there should be smart enough to know when and how to secure his/her payment in USDC before dip  .

Accepting payments in terms of bitcoin is amazing however, those universities who are welcoming the grounds for bitcoin acceptance should also upgrade their Tuitions with Blockchain Tech courses and whatever programming stuff etc. Now that would be next level acceptance of crypto as whole. That would be awareness of blockchain. If they start to learn it from universities then different sort of seeds get sown in their minds. This ultimately develops career directions and permanent user of crypto world. Anyways this is cool to know. Slowly this will impact all the educational systems too.

This is another good news from US despite some recent challenges from the region against bitcoin adoption and the corresponding mining, if we are to take a look to the rate of how students were making use of the opportunity in bitcoin to earn a living and run their economic and financial obligations, we could see that bringing it to be initiated as payment in the institution would be a great advantages to the entire student bitcoiners and other institutions would soon follow the likes and the introduction of digital asset "bitcoin" will later be introduced in curriculums.


I strongly believe what you said here but let us also consider that most students are not business men or investors, they only invest or trade it just to realize profit within the shortest period and pay bills as the need arises, this is an institution and not a corporate business organizations whereby all the members aims at buying bitcoin as an asset, i think in the case of students here, it is more predominant that students don't engage on asset as priority but just to make a little margin of profitability and sell off to meet their need as it arises unlike other corporate bodies whose main aim are to invest for a long time.

While I agree with your reasoning as we all know what the perception of Bitcoin is today, I think any opportunity for people to use Bitcoin as a currency is welcome. Because often people complain that they want to pay with BTC, but they are mostly limited to online stores that generate additional costs in the form of shipping costs or taxes/customs if it is international trade.

The US is certainly one of the most aware nations when it comes to Bitcoin, as they are constantly exposed to this information through their media. While this is about students being able to pay for their crypto tuition, we should know that their parents may be able to take advantage of this by starting to invest in this way so that one day they can pay for their children's studies.

It is a good development to pay tuition fees with cryptocurrency but this should be done in a proper way. Some students should not use money giving to them for school fees to invest in bitcoin just to get some profits because it is very risky, I could remember one of my colleague who used is school fees to invest cryptocurrency thinking he will meet up with having some profits and then the market went dip.

Let it be that if students decide to pay tuition fees with bitcoin let their be available bitcoin to pay for the fees rather than using the money that is supposed to serve for tuition fees to buy bitcoin as to get profits from it. The school management needs to also educate the student on how to use bitcoin in the right ways to avoid risk.

No civilized country that will not adopt bitcoin. Those countries that ban bitcoin and cut off the hands bitcoin growing. Have not examine the meaning of cryptocurrency. Some country on their own tried to avoid anything bitcoin exchange and payment with bitcoin because the view of bitcoin and the trust is not clear to them. Is a welcomed development if a well respected country like united state people living there is accepting fees with bitcoin. That tells us that every country will be soon consider Bitcoin as a legal tender if this news spread viral

The btc adoption news is now becoming common as daily many companies, institutions,stores are moving in this crypto world allowing their users to pay in btc through third party or direct payments which is positive sign for us.Hearing such news is good and they must be familiar with the volatility factor and should make plans accordingly.

It is good news that they are offering the possibility, although I doubt that tuition fees will be paid in this way on a massive scale, in fact I think the opposite is true, payments in this way will be very few, if any. Most people buy cryptocurrencies as an investment, not to spend them as a substitute for the USD or their country's currency, even if that was the original idea of the bitcoin whitepaper.

Interesting. I would spend and replace to get any benefits of the Bitcoin payment, and also keeping the amount of Bitcoin saved.

They're using Coinbase for receiving the Bitcoin payments

Here are the details for mechants:

https://help.coinbase.com/en/commerce/managing-account/payments

I've used that Coinbase payment checkout as a buyer, and it works surprisingly well.

Of course there is the issue that it's a centralized exchange, but I don't think everyone will be setting up their own payment processor so this is great.

More Universities around the globe started to provide different BlockChain and cryptocurrency related courses. Now universities accepting payment in the form of cryptocurrency is welcoming. This is something a needed one, because students are the key for the future of innovation. Experiencing it will give them better understanding about cryptocurrencies and this could make even the unknown students to give a try paying in cryptocurrency.

This is indeed another big achievement for crypto as it will pave way for its bigger and faster adoption in the market. This will give advantage to those who are already crypto holders in USA as its always known that there are a lot of crypto holders presently residing in there. And knowing the fact that the youth of today are the futures of tomorrow, then they should be well knowledgeable on the newest technology today wherein crypto and its blockchain technology is a big part of it.

smarter students.. wont wait for bear markets to pay the tuition..

you only want to wait for the bear market when you want to BUY bitcoin.. not to use/spend bitcoin

emphasis:
you wait for bear markets to buy bitcoin and wait for bull markets to pay the tuition fee

EG 1 semester fee is ~$27k

so you buy bitcoin on the bear at $37k/1btc... meaning $27k tuition=0.71btc
wait for a possible bull market for lets say $74k/btc.(pfft goodluck that happening before summer)

and you end up being able to pay 2 semesters for only $27k initial outlay
because that 0.71 (at $74/btc) is $54k for 0.71
which is 2x $27k

i doubt anyone this year can double their tuition money waiting out the bear and bull. but you might atleast pay off that first tuition and get to keep some coin/money to help towards other semesters/expenses (maybe not all the next semester, but some)

What comes to my mind is if I am a student there, when I want to make a payment is to wait for a bear market price. because at the time of payment it was still with automatic fiat at a price that remained stagnant. Smart students will know the best time when they have to pay their tuition bills. Lol 

This is a welcome development for students to be able to pay tuition fees using Bitcoin and partnering is the largest cryptocurrency exchange in the United States coin base to achieve that aim is also a good decision, quite a good number of business schools are beginning to adopt Bitcoin and the blockchain in its entirety as the see the innovative tendency of blockchain technology is the business world most especially when it has to do with security fairness and transparency, I read somewhere of a business school that thought blockchain as a course in the curriculum. Building knowledge around cryptocurrency is the best approach to maximizing the full potential of the young growing cryptocurrency industry.

Bentley University, a private university focused on business and located in Waltham, Massachusetts, US, is now accepting cryptos for tuition payments.The university said it is committed “to leading the way in the early adoption of technologies changing the business world”.

In order to do this, the university is partnering with Coinbase, the largest cryptocurrency exchange in the US, to accept three cryptos as payment: bitcoin (BTC), ether (ETH) and USD Coin (USDC).According to the Pew Research Center, a non-partisan American think tank based in Washington DC, more than 41 million Americans have either invested in, traded or used cryptos. That number equates to 16% of the US adult population.  In 2021 Alex Kim, a Bentley student, set up the Bentley Blockchain Association.

Source

https://t.me/Crypto_Bitcoin_Blockchain
https://currency.com/american-university-accepts-cryptos-for-tuition-payments

The move by the American Institution Bentley University in accepting Crypto's for it's tuition payments, would help in creating some level of awareness and hopefully arouse people's desire/ interest to acquire BTC and other Cryptocurrencies cause of it's usefulness.
As the move would pave way for other academic institution's to follow, and it is shown in it's statement, stating it's commitment in leading the way in the adoption of technologies changing the business and in my own opinion the entire world.
This move is key to the slow and early adoption of BTC and other Crypto Currencies.