El Salvador will move toward more Bitcoin adoption with the official Bitcoin education center by Paxful. Education center aimed to educate people about Bitcoin.
On 7 September El Salvador adopted Bitcoin as a currency officially. But many people (including many government agencies and economic experts) criticized this decision of El Salvador president Nayib Bukele. However, the majority of the criticism was based on a political agenda but some minor criticisms were based on real facts like deep education on crypto assets, in particular Bitcoin.
To push better Bitcoin education among the citizens of El Salvador, that is how to use Bitcoin, crypto trading and wallet platform Paxful announced to contribute in the initiative of Nayib Bukele.
On 3 February, Paxful announced that the exchange launched an official education center in El Salvador.
Through this educational center, Paxful will hold workshop events on Bitcoin and the inclusion of Bitcoin in the financial system. The basic aim of the center is aimed to educate people on how to use Bitcoin and how Bitcoin can be used in the buy-sell profit with the help of exchanges.
Ray Youssef, Paxful co-founder, and CEO will serve as director of this education center. Ray explained how this will further drive more adoption of Bitcoin.
“Bitcoin education is the key to financial freedom and El Salvador is leading the way with the support of the Bitcoin community”
Need of Bitcoin education in El Salvador
In September 2021, the survey revealed that 90% of citizens of El Salvador needed huge basic education on Bitcoin because the majority of them were claimed that they are not able to understand Bitcoin.
A recent survey revealed that people were failed to understand why the government introduced the Bitcoin law. While few people claimed that Bitcoin law is made to make rich people and government officials more rich with bitcoin.
Even on this matter, Ethereum co-founder Vitalik Butterin also said that the Bitcoin adoption idea of El Salvador was better but the execution was not better because without education people will not exactly figure out the use case and also will face huge risks like scams, which are usually in the crypto industry for newcomers.
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