Leading peer-to-peer (P2P) cryptocurrency exchange Paxful has launched a new Bitcoin education center in El Salvador.
The cryptocurrency exchange disclosed in a press release today that the educational institute, La Casa Del Bitcoin, will grant El Salvador citizens access to learn about the cryptocurrency.
Notably, the educational institute will train people about the benefits of investing in the world’s largest cryptocurrency, which include financial inclusion, low-cost transactions, users’ privacy, and faster settlements.
Aside from learning purposes, the Bitcoin center will also be used as a meetup venue for BTC-related discussions. Not intending to waste time commencing operations for the new Bitcoin education center, Paxful noted that classes will begin on February 3, 2022.
Bitcoin Education to Drive Adoption
Commenting on the development, Ray Youssef, Paxful CEO and co-founder, noted that it is public knowledge that the popular cryptocurrency is revolutionizing the finance industry in El Salvador and educating people about the asset class is important in driving widespread adoption.
“Education continues to be a key driver of global Bitcoin adoption, and this new center represents its importance to the creation of an inclusive financial system,” Youssef added.
Will Hernandez, Director of LATAM Growth at Paxful, said the crypto trading company recorded over 300% in El Salvador users following the country’s declaration that bitcoin is a legal tender.
The center will provide education, accessibility and opportunity to a population that has been ignored by traditional finance, and demonstrate the real-world benefits of Bitcoin to emerging markets,” Hernandez added.
El Salvador Resilient Toward Bitcoin
The development comes five months after El Salvador announced its adoption of bitcoin as a legal tender. While global regulators do not favor the country’s bitcoin adoption move, El Salvador has continued to throw its weight behind the nascent asset class by buying more BTC.
Last month, El Salvador president, Nayib Bukele disclosed in a tweet that the country did not miss the dip as it used the opportunity to buy another 410 BTC worth $15 million.
