Major peer-to-peer (P2P) bitcoin (BTC) platform Paxful is helping El Salvadorans use BTC more efficiently since the cryptocurrency became legal tender in El Salvador last year.
On Wednesday, Paxful announced the opening of “La Casa Del Bitcoin”, a new education and training center in El Salvador that provides free learning opportunities related to BTC.
As part of this effort, Paxful will host educational workshops and lectures 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 drive the next wave of mainstream Bitcoin adoption.
The center will also house the offices of Build With Bitcoin Foundation, an American non-profit dedicated to providing clean water, access to quality education, sustainable agriculture, and humanitarian aid, all powered by bitcoin and cryptocurrencies. Paxfull co-founder and CEO Ray Yousef is the fund’s CEO.
“Bitcoin education is the key to economic freedom and El Salvador is leading the way with the support of the bitcoin community,” said Youssef Nesari, director of philanthropy at the Bitcoin Foundation.
According to Will Hernandez, director of development for Paxful in Latin America, the number of users from El Salvador has increased by 300%. “What we are seeing is a transformative moment in El Salvador. Peer-to-peer platforms are driving adoption in emerging markets, and as a people-driven platform, we understand that education is critical to the next wave of adoption.”
Paxfull did not immediately respond to a request for comment from Cointelegraph. The article will be updated with new information.
Related: El Salvador Launches Chivo Wallet and Plans to Give Out 1,500 Bitcoin ATMs
Paxful’s new effort to raise awareness of bitcoin in El Salvador is a response to the current skepticism of El Salvadorans towards cryptocurrencies, despite the country accepting BTC as legal tender on September 7, 2021.
As previously reported, up to 90% of Salvadorans said that in September 2021 their understanding of Bitcoin was weak or even non-existent. A later study also found that over 50% of Salvadorans were unfamiliar with Bitcoin.