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New York Preschool Accepts Bitcoin, Shuns Credit Cards

•, Sonny Axis

Co-founded and chaired by Marco Ciocca, Montessori Schools is an early childhood education program built upon the classical methods of Maria Montessori. After following the growth cryptocurrency industry over the years, the school decided to start accepting Bitcoin and Ethereum in May, eschewing the traditional credit card payment system due to the ease of payment, low fees, and security that cryptocurrencies offer.

"There's about a 1% transaction fee, which is less than, you know, 2, 3, 4% sometimes with credit cards," Ciocca told Business Insider.

Montessori Schools is the largest preschool program in Manhattan with close proximity to the city's tech hub, the "Silicon Alley". Due to this proximity, the school has a lot of parents working in tech companies who often inquire about paying their children's $30,950 tuition fee in either Bitcoin and Ether.