Nigerian youth forging new Bitcoin path to financial golden age

Paxful, the leading global peer-to-peer (P2P) finance platform, has doubled down on its commitment to promote financial literacy among Nigerian youth as part of its efforts to drive economic growth in the country.

Ray Youssef, Paxful founder and CEO, gave the assurance at this year’s annual Digital Nigeria International Conference and Exhibition, held this month at the International Conference Centre, Abuja.

The founder was a guest speaker during Blockchain Day, a one-day event held during the government backed October conference. In his presentation titled “Blockchain for Youth Empowerment”, Youssef noted that the youth are the bedrock of every society, and they facilitate growth and economic development—it is vital that they are empowered with financial education to thrive and become the nation’s next great leaders.

He said, “Financial education brings empowerment and entrepreneurship. Nigerian youth are leading a financial revolution and Bitcoin has already scaled tenfold compared to other regions. We must foster that momentum—it will open Nigeria up to the global market, grow local businesses, expand opportunities for international freelancers, and lessen Nigeria’s reliance on international governments who threaten to devalue local commerce. Through Bitcoin, Nigerians will lead the whole of Africa into a financial golden age.”

Putting his words into action, Youssef spoke to hundreds of Nigerian youths in Abuja during an October 29th campus tour—discussing the future of finance and how Bitcoin can improve their daily lives. Students attended from different universities such National Open University of Nigeria (NOUN), Federal College of Education (FCT), and Veritas University Abuja.

Youssef’s goal is to amplify the work and ingenuity of these students. He noted that they are showing other regions how to apply meaning to Bitcoin. Youssef said, “Bitcoin is more than just an investment asset. It’s proof of the power of Nigerians. With high education but unemployment standing over 30%, you have shown the world how Bitcoin can forge a new path while strengthening a local economy. That’s empowering.”

During his trip, Youssef will also be visiting the PaxNaija Center in Abuja, which has successfully organized around 75 events across 9 states in Nigeria, training youths and university students on Bitcoin usage such as cross border payments and profitable arbitrage opportunities.

Youssef has seen the power of education first hand. Through the Built With Bitcoin Foundation, a non-profit organization that Youssef founded, his team was able to open both a primary and nursery school in Kaduna state. The community is now able to offer over 200 kids free access to early education and scholarships.

Youssef and his team will be pushing to progress Bitcoin and financial education even further during this trip, meeting with various high-level politicians to continue a dialogue around the future of Bitcoin in the country.

About Paxful
Paxful is a global peer-to-peer finance platform for people to make payments, transactions, and send money by buying and selling Bitcoin as a means of exchange.

Paxful’s mission is to advance a truly global economy by building a financial system that serves the 100%, not just the 1%. Over ten million people use Paxful to buy and sell Bitcoin with over 450 different payment methods—helping connect people to practically any financial network in the world. Founded in 2015 by Ray Youssef, the company was recently named a TIME100 Most Influential Company for 2022.