Paxful boosts financial literacy in India through various initiatives

National, 26th May 2022: Paxful, the leading global peer-to-peer fintech platform with over 9 million users, has made efforts to increase financial literacy and Bitcoin education through its various initiatives around the world. Paxful's aim is to provide financial freedom and give everyone, everywhere equal access to finance. 

In April 2022, Paxful hosted a series of educational events in India at Delhi Technology University Esummit ’22 with over 400 attendees from four different colleges. This Esummit aimed to educate students at one of Delhi's top universities about Bitcoin and also to on-board students onto the Paxful platform in order to participate in a trading competition. The team trading competition received over 70+ registrations. Along with the summit, Paxful hosted a workshop for aspiring entrepreneurs interested in learning more about trading on the Paxful platform. Through this workshop, the students learned about digital assets, bitcoin blockchain infrastructure, BTC payments and user stories.

Paxful aims at providing educational training and events that grow awareness around the benefits of Bitcoin and its use cases. The P2P trading platform has taken various initiatives toward global bitcoin education by introducing centers such as the PaxNaija Educational Center in Nigeria and La Casa del Bitcoin in San Salvador. The company also hosted programs in March 2022 in Nigeria and El Salvador to empower women and provide them knowledge about global trends, personal finance and entrepreneurship to help close the financial inclusion gap. Additionally, as part of Paxful’s mission to support emerging markets, Paxful’s Founder & CEO Ray Youssef founded the Built With Bitcoin Foundation, a non-profit dedicated to creating equitable opportunity by providing clean water, access to quality education, sustainable farming, and humanitarian support – all powered by Bitcoin.

These initiatives will further drive the next wave of Bitcoin mass adoption and equip growing segments such as small merchants and local businesses with tools to connect to a global community of users. The impact can already be gauged from the trade volume increase of over 50% across cities in India. The Indian cities that demonstrated tremendous growth in user base are Mumbai with 260%, Jaipur 150%, and Hyderabad with 135% increase. 

Ray Youssef, Founder and CEO of Paxful states that, “Education at every level is crucial to the next wave of global Bitcoin adoption. Paxful is on the ground in every corner of the world educating the everyday person around how they can use Bitcoin and other digital currencies. Our goal at Paxful is to empower individuals by presenting both the practical and entrepreneurial opportunities of Bitcoin. We are in a moment of transformation and Bitcoin is building a pathway to a brighter financial future.”

In alignment with the growth witnessed by The Annual Financial Inclusion Index of India (recorded at 53.9% in March 2021, a 10% increase against the 43.4% in March 2017) Paxful, through their efforts in financial literacy, has experienced its strongest growth in India across users and trade volume in the last year. India is the fourth largest country based on trade volume with over $240 million trade volume without margin in the year 2021. They are witnessing significant growth across use cases including arbitrage, remittances, payments, and investment