Cumbria University Student Pays His Tuition in Bitcoin

Eric Calouro
By Eric Calouro May 15, 2014 08:49

Cumbria University Student Pays His Tuition in Bitcoin

Story Highlights

  • First student pays Cumbria University in bitcoin
  • Paid just over 1 BTC for one month of fees
  • Says bitcoin could be future of tuition payments for international students

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Back in late January, we learned of the first reports that indicated that Cumbria University in England would be accepting bitcoin payments for two new study programs.

Well – it would appear as if one student has taken up the education institution on their offer.

Leander Bindewald, 34, has reportedly paid the school one month of fees in the digital currency, amounting to 1.032 bitcoins (just over $460 at the current exchange rate).

That’s according to the Daily Mail, who says that makes him the first in the world to pay for his tuition with the digital currency, though we cannot confirm that statement.

“I am practising what I preach,” he told the newspaper. “This is a public example that the technology actually works and that Bitcoin may very well be the payment system in the future.”

Bindewald reportedly made the transaction while he attended the three-day Ouishare Conference in Paris last week.

According to Bindewald, paying in bitcoin could very well be the preferred way for international students to pay their tuition fees in the future.

“It’s the natural way to make transactions in a virtually connected world,” he noted.

But Cumbria University isn’t the first educational institution to accept bitcoin payments for tuition.

Last year, the University of Nicosia in Cypress announced they would be accepting bitcoin. That came in addition to the advent of a crypto-currency study program at the school.

Source Daily Mail

Eric Calouro
By Eric Calouro May 15, 2014 08:49

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