Paxful launches a Bitcoin education centre in El Salvador

Paxful, a global peer-to-peer cryptocurrency trading platform, announced the launch of their new educational and training centre, La Casa Del Bitcoin last Wednesday, February 2. This free learning opportunity aims to help Salvadorans widen their knowledge of Bitcoin. Paxful’s effort to raise awareness around Bitcoin was inspired by El Salvador’s adoption of Bitcoin as a legal tender on September 7, 2021.

La Casa Del Bitcoin is now open to those who want to learn more about the cryptocurrency including the benefits of buying and selling its token, BTC. Each week, special courses will be available online. Educational workshops and talks focused on the financial inclusion of Bitcoin in El Salvador will also be included in the education centre. 

Paxful CEO and co-founder Ray Youssef stated in Paxful’s press release that ‘It’s no secret Bitcoin is shaping the future of finance in El Salvador and beyond. Education continues to be a key driver of global Bitcoin adoption and this new centre represents its importance to the creation of an inclusive financial system.’

Youssef is also the executive director of a nonprofit organization powered by Bitcoin and other cryptocurrencies called Built With Bitcoin Foundation. This United States-based foundation aims to provide clean water, quality education, sustainable farming and humanitarian support. 

Yusuf Nessary, Built With Bitcoin Foundation’s director of philanthropy stated that El Salvador is leading the way to financial freedom through Bitcoin education. The Built With Bitcoin Foundation and La Casa Del Bitcoin will share the same offices where various events and meetings will be hosted. 

‘What we’re witnessing is a moment of transformation in El Salvador. Peer-to-peer platforms are driving adoption in emerging markets, and as a people-powered platform, we understand that education is crucial to the next wave of adoption,’ Will Hernandez, the director of Latin American growth at Paxful stated after the platform saw a 300% increase in Salvadoran users.

According to the survey results of Central American University’s Institute of Public Opinion, 70% of Salvadorans admitted to having a poor understanding of cryptocurrency. Another 20% stated that they don’t know what Bitcoin is. 

The growing awareness about the benefits of trading BTC through La Casa Del Bitcoin will increase the possibility of Bitcoin’s mass adoption in the local communities of El Salvador.

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