Paxful Builds La Casa Del Bitcoin, The Bitcoin School For The People Of El Savador

Paxful builds bitcoin school in El Salvador. (photo: doc. unsplash)

JAKARTA - The premier peer-to-peer (P2P) Bitcoin (BTC) platform Paxful is now working to help people in El Salvador to make better use of BTC. This is done because cryptocurrency has become a legal tender in El Salvador since last year.

Paxful on Wednesday, February 3 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.

As part of that effort, Paxful will be holding educational workshops and talks focused on Bitcoin and financial inclusion in the country. Paxful 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.

🙌 https://t.co/qSPHy997JJ

— Paxful (@paxful) February 2, 2022

The training center will also be home to the offices of the Built With Bitcoin Foundation, a United States-based non-profit organization dedicated to providing clean water, access to quality education, sustainable agriculture, and humanitarian support. All of those projects are backed by Bitcoin and cryptocurrencies. Paxful co-founder and CEO, Ray Youssef, is an executive director at the foundation.

“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 Latin American growth at Paxful, the company saw a 300% increase in Bitcoin users in El Salvador.

“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-empowered platform, we understand that education is critical to the next wave of adoption,” Hernandez was quoted as saying by Cointelegraph.

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

As previously reported, 90% of El Salvadorans said their understanding of Bitcoin was poor or non-existent by September 2021. One survey also later showed that more than 50% of El Salvadorans do not even know Bitcoin.