Peer-to-Peer Crypto Exchange Champions Africa in Online Sessions

The coronavirus pandemic has been hugely disruptive to crypto conferences and events around the world, but one company is determined to continue educating businesses and consumers about Bitcoin’s potential.

Paxful, the peer-to-peer Bitcoin marketplace, is hosting a series of online sessions aimed at the African market. These one-hour events are designed to offer a compelling insight into cryptocurrencies for those who know little about what they are and their potential impact. Some of the continent’s best-known companies and individuals are also getting involved in the seminars.

Championing Africa

The first session was an “Ask Me Anything,” with the two co-founders of Paxful, Ray Youssef and Artur Schaback. This gave members of the Paxful community in Africa a chance to ask burning questions about the platform’s future plans for growth and development.

Meanwhile, the second session took a broader view of the crypto industry and how it can have a positive effect on the African economy. With COVID-19 causing employment opportunities to dry up, another seminar focused on how Bitcoin can deliver an alternative source of income for young people.

With businesses struggling to survive and charities finding it harder to raise funds during the pandemic, the age of the coronavirus means philanthropy has never been more important. Paxful’s third session shone a spotlight on how Bitcoin and other cryptocurrencies can be used to give back to communities.

Further seminars are due to take place later in the month, too. On June 11, Paxful hosted a discussion on the challenges of completing Know Your Customer checks in Africa and what is being done by prominent companies in the crypto space to overcome them.

Paxful’s June 16 session will be especially useful for those who have little to no knowledge about digital assets. Titled, “Back to Basics,” this event will simply explain what Bitcoin is, how it works, and how cryptocurrencies can be used in daily life.

Last but not least, the June 18 event will look at the world of crypto influencers — people whose insights and perspectives have won them thousands or even millions of followers. Here, a panel of experts will share their top tips for establishing credibility, building an audience, and making a living.

Raising awareness

All six of these events are free of charge, and the diverse range of topics means that there is something for everyone to enjoy. Paxful is hoping to gain the trust of consumers in South Africa, Kenya and Ghana through these sessions, and wants to encourage them to sign up and see what its platform has to offer.

As reported by Cointelegraph, Africa is seen as a place that is ripe for cryptocurrency adoption and innovation. In some economies on the continent, high inflation rates and volatile currencies mean consumers are looking for alternatives. Digital assets could also transform the remittance industry. In 2019 alone, an estimated $48 billion was sent by African expatriates to families located in sub-Saharan Africa, but current payment providers often charge punishing fees when these transactions are made.

When the crypto exchange Luno wrote a report about the opportunities for disruption in Africa, it singled out Paxful as a major player in the region’s crypto ecosystem.

Paxful enables Bitcoin to be bought and sold instantly using more than 300 payment methods, including cash, online wallets, bank transfers and gift cards. The latest figures suggest it has more than 3 million customers globally.

The company also has a determination to give back to the community. Its goal: to build 100 schools in Africa.