Major peer-to-peer (P2P) Bitcoin platform Paxful is working to help Salvadorans better use BTC as the cryptocurrency became legal tender in El Salvador last year. Paxful on Wednesday announced the launch of “La Casa Del Bitcoin,” a new educational and training center in El Salvador to enable free learning opportunities related to BTC.
Paxful will hold educational workshops and talks focused on Bitcoin.
Paxful will hold educational workshops and talks focused on Bitcoin and financial inclusion in the Central American country as part of the effort. The center will focus on growing awareness around the benefits of buying and selling BTC as a means of exchange for the local community to further drive the next wave of Bitcoin mass adoption. The center will also be home to the Built With Bitcoin Foundation offices, a United States-based nonprofit organization dedicated to providing clean water, access to quality education, sustainable farming, and humanitarian support, all powered by Bitcoin and cryptocurrencies. Paxful co-founder and CEO Ray Youssef is the executive director at the foundation.
Paxful saw a 300% increase in Salvadoran users.
According to Will Hernandez, the director of Latin American growth at Paxful, the crypto company saw a 300% increase in Salvadoran users. “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,” he noted. Paxful’s new effort to raise awareness around Bitcoin in El Salvador comes in response to some existing crypto-related skepticism among El Salvadorans despite the country adopting BTC as legal tender on Sept. 7, 2021.