A Russia-based online service allowing one to find a foreign language tutor for real-life or Skype lessons starts accepting bitcoins.

According to the company’s press release, Preply is the first ever service in Russia to offer such option. Initial cryptocurrency payments have already been accepted.

Originally founded as an online platform for finding English language tutors, Preply now provides 27 world languages, 13 school subjects as well as acting, music and painting lessons. The prices are set by tutors and range from $1 to $100 per hour. As the service fee the platform keeps the whole sum for the first lesson and withholds 18-33% from each further payment. Currently it has 15,000 registered tutors from all over the world.

The press release states that lower fees associated with cryptocurrencies were one of the main reasons behind the decision. Such systems as Braintree, Paypal or Stripe, charge 2.5-2.7% and banking fees are even higher, especially in some Asian countries, while with bitcoin fees are almost non-existent.

According to Kirill Bigay, co-founder and directing partner of Preply, the idea to accept bitcoins was first suggested to him by the venture foundation Point Nine Capital at Techstars accelerator in Berlin. The company hopes that its decision will help not only to improve its business figures but also to enlarge its audience by attracting technical geeks.

Alexey Tereshchenko