How El Salvador Is Fixing Chivo Wallet, Trying To Get Bitcoin Adoption Back O...
El Salvador tapped crypto software firm AlphaPoint to fix numerous problems with its state Chivo wallet and help citizens adopt Bitcoin.When Bitcoin became legal tender in El Salvador, thousands of keen Salvadorans awaited to download the country’s government-furnished Bitcoin wallet, Chivo. However, within hours, it became clear that the hyperbitcoinization process would not be painless, as users experienced download delays, challenges in the identity verification process and problems transacting over the Lightning Network with Chivo. Chivo’s challenges became even more pronounced as El....
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Nayib Bukele, El Salvador president, has claimed that 2.1 million citizens are using the new government-backed Chivo cryptocurrency wallet. In a tweet, he implied the apparent success of Bitcoin in the country. El Salvador recently adopted bitcoin as a legal tender on September 7, 2021, being the first country to do so. Related Reading | Just 10 Days After El Salvador’s “Bitcoin Day”, President Bukele Confirms 1.1 Million Citizens Have Chivo Wallet On Saturday afternoon, president Nayib Bukele shared this update with his 2.9 million Twitter followers. He claimed that Chivo “now has....
El Salvador’s state Bitcoin wallet has continued facing major issues in a week after the official rollout. Just a week after Bitcoin (BTC) became legal tender in El Salvador, President Nayib Bukele has admitted that the rollout of the state Bitcoin wallet was too much of a challenge.Chivo, El Salvador’s official Bitcoin wallet, has temporarily disabled new registrations and halted app downloads for new smartphone models due to ongoing issues with the app, Bukele said on Twitter late Monday.“Both things will be enabled until the application has no errors,” the president noted, adding that....
The Mexican Bitso exchange has been providing its custody and exchange services to Chivo so that the government of El Salvador can buy Bitcoin. El Salvador’s government-backed Bitcoin (BTC) wallet has reached significant success in terms of adoption, according to an exec at the cryptocurrency exchange behind the wallet.The Chivo wallet was launched in conjunction with BTC becoming legal tender in El Salvador on Sept. 7, 2021. The official platform allows users to buy and sell Bitcoin, offering cryptocurrency custody and exchange services provided by the Mexican crypto trading platform....
El Salvador President Nayib Bukele gives us an update on the adoption progress of their government Bitcoin app - Chivo Wallet.
Seeking a permanent solution for over 4 million BTC users, the government of El Salvador focuses on Chivo wallet’s stability and uptime, scalability and social impact. El Salvador, the first country to adopt Bitcoin (BTC) as a legal tender, has relaunched its in-house Chivo wallet to address the existing challenges of BTC transfers locally. With AlphaPoint integration, the updated Chivo wallet is expected to carry out instantaneous low-fee Bitcoin transactions while fixing concerns related to stability and scalability.Within the first month of establishing BTC as a legal tender, President....