Launching a Bitcoin Education Center in El Salvador to Boost Adoption

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Leading peer-to-peer (P2P) bitcoin (BTC) platform Paxful is working to help Salvadorans make better use of BTC as the cryptocurrency became legal in El Salvador last year.

Paxful on Wednesday announced the launch of “La Casa Del Bitcoin,” a new education and training center in El Salvador to enable free learning opportunities related to BTC.

https://t.co/qSPHY997JJ

— Paxful (@paxful) February 2, 2022

As part of this effort, Paxful will host educational workshops and conferences focusing on Bitcoin and financial inclusion in the country. The center will focus on raising awareness of the benefits of buying and selling BTC as a medium of exchange for the local community to further drive the next wave of Bitcoin mass adoption.

The center will also house the offices of the Built With Bitcoin Foundation, a US-based non-profit organization dedicated to providing clean water, access to quality education, sustainable agriculture and support. humanitarian, all powered by Bitcoin and cryptocurrencies. Paxful co-founder and CEO Ray Youssef serves as the foundation’s executive director.

“Bitcoin education is the key to financial freedom and El Salvador is leading the way with the support of the Bitcoin community,” said Yusuf Nessary, Director of Philanthropy at Built With Bitcoin Foundation.

According to Will Hernandez, director of growth in Latin America at Paxful, the company has seen a 300% increase in the number of Salvadoran users. “What we are 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 for the next wave of adoption,” he said. he noted.

Paxful did not immediately respond to Cointelegraph’s request for comment. The article will be updated pending new information.

Related: El Salvador Relaunches Chivo Wallet, Plans to Deploy 1,500 Bitcoin ATMs

Paxful’s new effort to raise awareness of Bitcoin in El Salvador comes in response to some crypto-related skepticism among Salvadorans, despite the country’s adoption of BTC as legal tender on September 7, 2021.

As previously reported, up to 90% of Salvadorans said their understanding of Bitcoin was poor to non-existent in September 2021. A survey also later suggested that over 50% of Salvadorans were unaware of Bitcoin.

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