Paxful opens a Bitcoin education center in El Salvador to boost adoption

The peer-to-peer crypto platform has been working to make it easier for Salvadorans to use the flagship cryptocurrency.

Paxful opens a Bitcoin education center in El Salvador to boost adoption

Since Bitcoin became legal tender in El Salvador last year, major peer-to-peer crypto platform Paxful has been working to make it easier for Salvadorans to use the flagship crypto.

A new educational and training center for bitcoin in El Salvador, called La Casa Del Bitcoin, was announced by Paxful on Wednesday.

In support of this initiative, the company will hold educational workshops and talks regarding Bitcoin and financial inclusion in El Salvador.

To drive mass adoption of Bitcoin, the center will focus on educating the local community about the benefits of buying and selling Bitcoins.

In addition to the Built with Bitcoin Center, the non-profit organization will have offices at the center dedicated to educating children, providing clean water, sustainable farming, and providing humanitarian assistance, all powered by Bitcoin and other crypto assets.

The foundation's executive director is Ray Youssef, co-founder and CEO of Paxful.

Yusuf Nessary, director of philanthropy for Built with Bitcoin Foundation, said Bitcoin education is key to financial freedom in El Salvador.

Paxful, which is based in El Salvador, saw a 300% increase in users from that country. According to Will Hernandez, Paxful's Latin American director, El Salvador is going through a period of transformation.

"In emerging markets, peer-to-peer platforms are driving adoption, and as a people-powered platform, we recognize that education is essential to the next wave of adoption," Hernandez said.

Despite El Salvador's adoption of Bitcoin as legal tender on Sept. 7, 2021, Paxful's new campaign to raise Bitcoin awareness aims to combat skepticism about crypto-related technologies.