El Salvador’ Citizens will get huge support from Paxful exchange to know more about Bitcoin use cases.
On 7 September, El Salvador created history and adopted Bitcoin as legal tender. However, at that time, the country faced huge criticism. In particular, the majority of the politicians, opposition leaders, raised their voices against the Bitcoin law of the ruling government of Nayib Bukele, president of El Salvador. The majority of the criticism was based on the lack of understanding about Bitcoin and volatility in prices.
On 3 February, Paxful, a crypto trading and wallet platform announced the launching of the official Bitcoin education of El Salvador backed by Paxful. The basic initiative of this centre is to educate the citizens against their lack of understanding of Bitcoin use.
The announcement noted that citizens of El Salvador have less understanding of the use of Bitcoin and they are not aware of taking advantage through buy-sell on the exchanges.
Paxful co-founder Ray Youssef will give his contribution to the education centre as a director. Ray said that the new education centre will help to drive more adoption of Bitcoin use.
“Bitcoin education is the key to financial freedom and El Salvador is leading the way with the support of the Bitcoin community.”
El Salvador Bitcoin education
In 2021, Ethereum co-founder Vitalik Butterin said that the decision of Nayib Bukele, president of El Salvador, was not the right decision to take early to adopt Bitcoin as Currency.
Vitalik noted that El Salvador’s citizens needed more education on Bitcoin. Without education, it will result in many financial risks like fraud related to bitcoin.
A recent survey revealed that 20% of people have no clue why bitcoin was adopted by the country. On the other hand, few people (respondents in the survey) claimed that the Bitcoin law is made to make rich people richer.
These things are showing that either citizen of El Salvador are getting some misleading & wrong information about Bitcoin or they are thinking about it wrongly.
However, the government of El Salvador also started its Bitcoin Chivo centre to educate and help people to use & top-up Chivo wallet, the official Bitcoin wallet of El Salvador. But it was the responsibility of the government to wait to introduce the Bitcoin law officially so that government-backed education centres could educate citizens more and more.
Read also: Why Is Bitcoin A Better Investment Option Than Gold?