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Thursday, June 29, 2017

New York Preschools Accept Bitcoin and Ether for Tuition Payments

New York Preschools Accept Bitcoin and Ether for Tuition Payments

Two private preschools in New York City now accept bitcoin and two other cryptocurrencies for tuition payments, according to their co-founder.


Montessori Schools, based in the Flatiron and SoHo neighborhoods of Manhattan, began accepting bitcoin, ether and litecoin in June. Payments are accepted by way of an integration with digital currency startup Coinbase, which automatically converts the crypto payments to US dollars.


The preschools ascribe to the Montessori philosophy of education, an approach to learning developed in the early 20th century by Maria Montessori. According to online materials, tuition at the schools can run as high as $30,950 per annum – worth roughly 12.3 BTC at current prices.


Marco Ciocco, co-founder and chairman of the schools, told CoinDesk that the move to accept digital currencies for tuition payments began more than a year ago, following requests from parents. As more requests came in, Ciocco said, school officials started to seriously weigh how it could work.


Full story at http://bit.ly/2tpc04N


Source: CoinDesk


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