Paxful the leading global marketplace is working hard as it hopes to drive entrepreneurship in the bitcoin economy.
South Africa happens to be one of the top markets for Paxful internationally. It can also boast of over 2million users globally.
On Tuesday, Statistics South Africa revealed that the unemployment rate has been so high since 2017 making unemployment rate so alarming that it has remained high at 55.2%.
Paxful is passionate about entrepreneurship and driving. Its training the youths on the bitcoin literacy and the need of bitcoin for businesses. Paxful is currently in South Africa trialling one of the biggest giveaways of bitcoin at three universities across the country as a way to drive further it’s aim.
AFRICA MUST TAKE ADVANTAGE OF THE BLOCKCHAIN ECONOMY
The aim is to educate the present youths on how to use bitcoin as well as to encourage entrepreneurship in the bitcoin cryptocurrency economy.
After a tremendous trading year in 2018, Paxful, didn’t look back as it has continued their mission of facilitating financial inclusion around the world. The company has gained valuable insights on how consumers are increasing steadily on the use of digital currencies through interactions with customers and as such with bitcoin becoming not just investment alone or speculative trading but mostly adopted in everyday lifestyle and business transactions.
However, the fluctuating bitcoin price did not hinder the significant growth as seen in the marketplace in digital currency transactions on the African continent in recent years, with the sudden rise largely spearheaded by students and graduates under 25. “Africa has advanced to the forefront of peer-to-peer finance adaptation.
Artur Schaback, COO and co-founder of Paxful reported that “In 2018, our user base in Africa doubled, with most customers coming from the ages between 18 and 24,” .
NURTURING YOUTH ENTREPRENEURSHIP, ONE BITCOIN AT A TIME
Paxful launched many series of educational workshops across Africa in 2019, this is aimed at increasing access to the bitcoin economy for more youths on the African continent as we wouldn’t want to be left behind in the crypto adoption. This education initiative has currently kicked off in South Africa and Kenya this May, while Nigeria,Ghana and other African countries are on the board to join up later in the year. The workshops will begin from the scratch and will cover the very basics about bitcoin for novices and start ups and will further expand on business applications observed around the world and also on innovative use cases and how its being integrated.
Ray Youssef, CEO, and co-founder of Paxful stated that “As a values-driven company, our passion about making the bitcoin economy accessible for everyone, especially the youths. On this note, we would like to reach out to as many youth as possible to help them understand the digital currency market and how they can transact safely and with confidence. We also wish to continue to partner with customers and other key stakeholders to ensure they are well informed about the opportunities presented by peer-to-peer finance,”
Furthermore, the BuiltWithBitcoin charitable initiative, is one of the Paxful’s notable commitment to Education which includes building schools in East Africa under this initiative, as well as providing scholarships to young women in the Middle East. To expand their scholarship programs, the company is also working on building 100 schools across Africa.
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