As you may not know, Jungle Academy is built from and powered by Bitcoin, Other than a very few small exceptions, we only accept Bitcoin or cash as fees. We also pay our staff in Bitcoin wherever possible.
In the future we are confident that all fees will be paid in Bitcoin. Mainly because it’s really easy to do nowadays, and in the future it will be even easier.
Bitcoin can be both a store of value and a payment rail. If you hold Bitcoin long term you are using it as a store of value, similar to a savings account. If you purchase it in the moment to settle a bill, then you are using it as a payment rail.
For those who already pay in Bitcoin as a payment rail, they realise how easy the process is and how much value is saved from the banks or other predatory pay platforms as hefty charges are avoided.
Parents paying cash or other platforms, e.g. Paypal typically end up paying significant percentages in charges when they draw out cash from an ATM, or transfer money between accounts using international bank transfers. On the other hand, those who pay in Bitcoin pay about fifty cents in charges, tops.
The below graphic demonstrates the 4 ways to pay tuition fees using Bitcoin depending on your country.
Benefits:
As the transfers are internal, the banking transfer fee is minimal
Nearly all if not all of the above processes can be completed via the internet, therefore there is no need to physically queue to make payments or get money.
Following any of the above methods, and the the power of magic internet money Jungle Academy receives the value in Bitcoin and all parties are relieved of hefty bank charges meaning there is more saved to spend on students
If you feel confident navigating Bitcoin transactions we can show you how to pay all your Costa Rican bills using Bitcoin.
Finally, gone are the days of predatory middle men, extracting value and holding onto your money needlessly.
We understand that Bitcoin payments may seem new and weird to some. But they are no more difficult than when we first learned to transition from hiding stashes of cash under the bed, to using clunky banking systems, check books and then credit cards. The significant difference is that Bitcoin payments are quick, instant* and final.
*If you send Bitcoin via the Lightning Network, they are instantaneous. If you send Bitcoin onchain through the Bitcoin Network, they can take approximately 15mins depending upon how much transaction fees you accept.
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