School fees are often the burden of parents all over the world. Ever increasing tuition fees mean remittances must be made on a semester basis for some Universities. Bitcoin potential in education could be unlimited particularly for the funding of higher education.
Currently the majority of students from Nigeria prefer to study abroad. For various reasons, a foreign education is suited to their needs but comes at a cost too. Constant maintenance sums and school fees can easily consume most of your disposable income. Furthermore with the bulk of funds sent by parents dealt with remittance companies such as Western Union, paying for your child’s education can become unnecessarily expensive and time consuming. Current services can take up to 2 weeks and cost hundreds of dollars. Fiat remittances may not have to be the only way you can financially support your child overseas as the invention of digital currencies such as cryptocurrencies can solve many problems.
Universities Accepting Bitcoin
As reported by one NairaEX customer, Universities abroad do accept Bitcoin as a form of payment. Currently confined to University of Nicosia (UNic) in Cyprus this has reflected the increased interest educational authorities have not only when teaching this technology but also using it. Currently it’s taking 2 weeks at a time for remittances to come through via Western Union. Comparing this to Bitcoin which can be used for daily shopping, remittances and trade crypto is easily the cheaper and smarter option. Not only will you be able to send abroad to students in a matter of seconds. Bitcoin is remittances also cost just a handful of naira and rarely lose value during transit.
To conclude Bitcoin may be the future of funding educational needs at higher levels. As Nigeria relies on remittance networks to deliver to students abroad, Bitcoin can become the more efficient mode of funding. Faster and cheaper, Bitcoin can deliver where the Naira may not. So if you’re looking to make your or your families’ education easier, head on over to NairaEX. Currently Nigeria’s leading exchange you can easily purchase Bitcoin for Naira at market leading rates, and send it abroad in a matter of seconds.