A swiss university will accept crypto-currencies as payment of tuition fees

The adoption of Bitcoin continues to break the boundaries, and the academic institutions are the next to be affected by the virus of crypto-currencies. In fact, today, in Switzerland, it is possible to pay the tuition fees with the digital currency.

The crypto-currencies are prompt this time in universities

Switzerland has already proven to be a destination of choice for the players technology, Blockchain, digital currencies and everything related to crypto-currencies. The reason is that a lot of people, and even the government, have adopted the technology in everyday life. Now, some universities are adopting the method of payment in Bitcoin for tuition fees, but with some caveats. The University of applied sciences and arts of Lucerne has announced the decision to accept payments in Bitcoin. The University has identified that the Bitcoin was on the cutting edge of new technologies, and seems to enjoy the direction in which moves the crypto-currencies.

An alternative made possible by Bitcoin Suisse AG

The University does not directly accept the Bitcoin as a mode of payment, but has entrusted its payment Bitcoin processing company called Bitcoin Suisse AG. The process is similar to what one might encounter on an e-banking portal. The University of Lucerne, explains that it is Bitcoin Suisse AG bears the risk of exchange losses and currency fluctuations. However, even with this third-party system, the additional costs involved are only 1 %. Which is significantly lower than with the traditional payment methods.

The university of Lucerne leaves the choice to the students

The university does not expect students to adopt unanimously the offer Bitcoin. Nevertheless, they are sure that there are many students interested in crypto-currencies and that are most likely to use this new option. “Those who are most likely to take advantage of this opportunity will be familiar with the concept of financial market services and technology Blockchain, is interested in pursuing opportunities for continuous learning on the subject,” added the university.

Source : Cointelegraph