King's College Bitcoin: US School Becomes First Accredited University To Accept Cryptocurrency For Tuition, Donations

A small liberal arts college in New York's financial district on Friday became the first accredited U.S. college to accept Bitcoin for tuition bills, donations and other expenses. Bitcoin, introduced in 2009, is a peer-to-peer currency that operates with no central authority or banks. Known as The King's College, the Christian institution signed with Coin.co to accept the digital currency and convert it to U.S. dollars, allowing the institution to avoid credit card fees of 2 to 3 percent.