Using bitcoin to pay student’s tuition fee in FPT University

The leading technology university FPT has announcement to accept Bitcoin as a tool for tuition fee paying to international students.

Dr. Le Truong Tung, President of FPT University has confirmed the announcement with local medias, saying FPT University will allow foreign students to use Bitcoins first.

Sharing on his Facebook, Mr. Tung said that the digital currency is a feasible solution for students from Africa because they always face difficulties transferring money out of their countries. This will be good news for international students and agencies that they can use Bitcoin as a tool for tuition fee payment. 

“Bitcoin is a technology product and as a leading technology university in the age of Industry 4.0, FPT sees it necessary to try using the digital currency,” said Dr. Le Truong Tung on an interview with local media (Tuoi Tre News).

In Vietnam, there is a network of Bitcoin ATM which are convenient to buyer: https://coinatmradar.com/country/232/bitcoin-atm-vietnam/. Buying Bitcoin from anywhere in the world, you can sell it and withdraw money with Bitcoin ATM so that you will not have to complete so many paperwork as banking transfer. However, Bitcoin price could be up and down unexpectedly, the buyer should learn about it carefully before making a decision to buy and sell.  

Several Government Ministries and the Central Bank of Vietnam have been tasked with drawing up such framework by the end of next year, and tax policies for cryptocurrencies must be finalized by June 2019.

Since news of this legal framework was released, Bitcoin has become more attractive in Vietnam, with computer component providers saying they have ran out of graphics cards due to the increasing demand for Bitcoin hardware.

 

Bitcoin is a worldwide cryptocurrency and digital payment system[8]:3 called the first decentralized digital currency, as the system works without a central repository or single administrator.[8]:1[9] It was invented by an unknown person or group of people under the name Satoshi Nakamoto[10] and released as open-source software in 2009.[11] The system is peer-to-peer, and transactions take place between users directly, without an intermediary.[8]:4 These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies,[12] products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.[13] Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.[14]

At present, the price of bitcoin is approximately $ 6,000, reaching more than 500% growth in 2017.