Varsity Tutors now Accepts Bitcoin Payments -- THE Journal

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Varsity Tutors now Accepts Bitcoin Payments

By Joshua Bolkan
04/25/13

Varsity Tutors, a provider of in-person and online tutoring services, will now accept Bitcoin as payment in an effort to reduce credit card and bank transfer fees for international customers.

Varsity Tutors will accept the open-source peer-to-peer digital currency through Coinbase, which charges a transaction fee of just 1 percent.

"At Varsity Tutors, we're constantly seeking out ways to better serve our clients, so if digital currency can make it easier for international students to access our tutoring services, it seems only natural to embrace it," said Chuck Cohn , founder and CEO of Varsity Tutors, in a prepared statement.

First described by an anonymous hacker going by the name of Satoshi Nakamoto in 2008, Bitcoin was launched in 2009. It's been a rocky year so far for the cryptography-based currency, which was selling for just shy of $22 in February before it soared to a high of $266 April 10, then plummeted to just $105 before the day was over. In the weeks since, it has recovered somewhat, and is currently selling for approximately $150.

More information about Varsity Tutors is available at varsitytutors.com. Go to coinbase.com to learn more about Coinbase.

About the Author

Joshua Bolkan is contributing editor for Campus Technology, THE Journal and STEAM Universe. He can be reached at [email protected].

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