Paxful records 57% rise in bitcoin trading
Paxful, a global peer-to-peer fintech platform, has achieved 57 per cent year-over-year increase in Bitcoin trading volumes and an 83 per cent year-over-year increase in Nigerian users.
The company has also opened PaxNaija, a new cryptocurrency educational centre in Nigeria. The PaxNaija launch had representation from the public and private sectors, cryptocurrency market players as well as Paxful users. The launch also underscores the company’s efforts to enhance the knowledge of cryptocurrency and further drive its adoption.
The office currently employs 10 people and has a square footage of 1,78sq meters.
The centre, located in Wuse Central, Abuja, was established to educate, train, and inform Nigerians on the adoption of Bitcoin and cryptocurrency. Paxful’s hope is to inform local communities of the advantages and benefits of cryptocurrency trading.
Co-founder and CEO, Paxful, Ray Youssef, stated that PaxNaija is a testament to Paxful’s commitment to empower Nigerians by educating them on the opportunities of cryptocurrency.
Youssef said: “There’s no denying it – Nigeria is leading the way in Bitcoin adoption – but it’s vital that businesses fan that adoption. During our recent trip to Nigeria, we also saw a strong and growing interest among Nigerian youths around digital currency.
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“The energy of people getting their first Bitcoin at PaxNaija reminded me of the first days at Paxful. We follow energy and this is where mainstream adoption will start and create mass momentum. We’re thrilled to offer PaxNaija as a haven for Bitcoin and cryptocurrency education and opportunity.”
Co-founder/Chief Operating Officer of Paxful, Artur Schaback, said: “Paxful’s goal is to highlight the real value and untapped potential of cryptocurrency. And to do that, it’s vital for us to be on the ground, working alongside cryptocurrency beginners and enthusiasts. They are our best allies in onboarding the next wave of Bitcoin users.
“As an organisation that seeks to transform the lives of many young people, we have created a platform that is safe and easy to use. But beyond that, we owe a service to the industry. It’s our mission to not only teach users on the benefits of Bitcoin but to educate lawmakers on how crypto can be used to support their economy.”
This statement is supported by Youssef’s recent call for increased collaboration among Nigerian cryptocurrency players during his visit earlier this year at a Stakeholders Forum, organised by Paxful.”
The leading global peer-to-peer fintech platform also said recently that Nigeria is its biggest market with about 1.5 million users.