BYU Idaho Accepts Bitcoin in Select Student Housing Developments


         BYU Idaho Accepts Bitcoin in Select Student Housing Developments

Two Brigham Young University-Idaho off-campus housing developments recently announced they will allow residents to pay for rent with Bitcoin. EdgeCreek Property Management, which provides BYU-Idaho approved housing, is accepting Bitcoin in both the Nauvoo House for Men and the Mountain Pines Apartments for Women. This is a huge step forward for cryptocurrency, especially Bitcoin. Although someone can pay bills with Bitcoin using services like BillPayForCoins, the recent news at BYU-Idaho will bring the ease of use and practicality of accepting Bitcoin to the forefront.

There are a few other housing developments throughout the nation that accept Bitcoin or other crypto-currencies. For instance, Village on the Parkway in Orem, UT also accepts Bitcoin as payment for living costs. The Nauvoo House and Mountain Pines Apartments, however, are the first university approved housing developments to accept Bitcoin. These developments include room and all utilities for one price per semester with an option of bundling multiple semesters for a reduced cost. Every resident could obtain Bitcoin, set up a wallet, and send payment to the property manager in very little time. On the other side, the property manager sets up a wallet or merchant account with a payment processor such as BitPay, sends an invoice to the resident, and then receives payment. These methods provide both parties with a simple and secure transaction.

What does this mean for the future?

This development is an extremely positive step for the Bitcoin community. There is excitement in a wider acceptance, but it will depend on how many residents adopt the payment method. Many young professionals (age 19-25) have adopted cryptocurrency and support continues to increase. Many of these individuals are students at universities around the world who adopt new technologies very early. Whether that is housing, electricity, or a cheeseburger from your favorite downtown burger joint, Bitcoin could help college communities by providing a secure method of payment for any good or service. Imagine paying for your books, housing, and tuition at the college of your choice without having to reach in your “physical” wallet.

The recent news at BYU-Idaho is a huge leap forward for the Bitcoin community. By being the first university approved housing to accept Bitcoin, the Nauvoo House and Mountain Pines Apartments are forging a path for others to follow. There is no telling how quickly it will be adopted by residents but it is a sign of great progress. These are exciting times for cryptocurrency and time will show us how Bitcoin will be affected by this mainstream adoption.


Op Ed: Defining Decentralization: How Ambiguity Continues to Divide Crypto

In the pursuit of mass adoption, decentralization shouldn’t be our goal, but instead a means to achieve the many different, and equally important, goals that exist for cryptocurrency users.

Paul Puey

Op Ed: Why It’s Unsafe to Store Private Crypto Keys in the Cloud

Unless cybersecurity becomes part of the fabric of blockchain and crypto with stakeholders taking it more seriously, it will take much longer for this amazing technology and currency to get the mass adoption that it deserves.

Paul Walsh

Op Ed: How Bitcoin’s Protocol of Peace Can End the Nuclear Age

Bitcoin offers an alternative to a universal security system backed by men with guns. It creates a new model of security based on cryptographic proof that can resist unlimited applications of violence, making a bulletproof network.

Nozomi Hayase

Op Ed: Bitcoin Mining Attacks Are Overblown

The question here is whether bitcoin mining is a single point of failure. Could a government or other authority control Bitcoin through controlling a single entity in mining? What would it actually take to “take over”?

Jimmy Song