The ease of payment, low fees and speed of transaction are just some of the reasons why a kindergarten in New York has opted for the payment of tuition fees in Bitcoin.
A nursery school at the cutting edge of the technology
Co-founded and chaired by Marco Ciocca, Montessori Schools is a program of early childhood education based on the classical methods of Maria Montessori. After you have followed the industry of the crypto-currency over the years, the school has decided to begin accepting the Bitcoin and Ethereum, thus avoiding the traditional system of payment. In fact, with a credit card, the fees are high and the risk of piracy also, unlike the crypto-currencies that offer reduced fees and more security.
Meet a need of the parents
It is important to remember that Montessori Schools is the largest preschool program in Manhattan and is close to the technological center of the city, the ” Silicon Alley “. Because of this proximity, the school is facing a lot of parents working in technology companies, and who often ask about the possibility of paying the school fees of 30 $ 950 in Bitcoin or Ethereum. It is this need that Montessori Schools wanted to satisfy by accepting payment of tuition fees in crypto-currencies. However, all of the parents were not in agreement with this announcement, citing the volatility of crypto-currencies and their images are very sulphurous.
Davidstankiewicz, Wikimedia Commons
A volatility of no consequence
Moreover, the market volatility of the crypto-currency has always been the reason why most of the organizations refuse to accept them as a method of payment. However, Montessori Schools has found a creative way to work around this problem by opening a merchant account with one of the largest markets for crypto-currencies in the United States. The account allows them to instantly convert the payment of crypto-currencies in currencies in the traditional way. What protects the amount deposited against the volatility of the market. Despite the enormous gains made by the industry of the crypto-currency over the last few months, Ciocca maintains that the school will not benefit from fluctuations in the market because its sole purpose is to facilitate payment for the parents.
Source : Cryptocoinsnews