El Salvador Chivo Bitcoin Wallet Relaunch To Serve 4 Million Users
El Salvador, a country that has become infamous for being the first sovereign nation to accept bitcoin as a legal tender, continues its journey through uncharted waters. To make this move a reality, the country had launched its own government-approved bitcoin wallet, Chivo for carrying out crypto transactions in the country. Encouraging residents to accept the wallet by offering a $30 bonus on sign-up. “Bitcoin Day” has since come and gone since then and El Salvadoran citizens are settling into using the cryptocurrency as a legal tender alongside the US dollar. However, there have been....
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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....
On Sept. 6, El Salvador became the first country to adopt BTC as legal tender, attracting both praise and criticism from the global community. Salvadoran President Nayib Bukele claims that 2.1 million of his fellow citizens are using the government-backed Chivo cryptocurrency wallet, offering a glimpse into the apparent success of the country’s Bitcoin (BTC) gambit. The controversial president updated his 2.9 million Twitter followers Saturday afternoon, claiming that Chivo “now has more users than any bank in El Salvador” after just three weeks in operation. Bukele indicated that it’s....
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....
President Bukele revealed gas stations in El Salvador will begin selling each gallon of fuel at a $0.20 discount for those who pay using the Bitcoin Chivo wallet.
El Salvador tapped crypto software firm AlphaPoint to fix numerous problems with its state Chivo wallet and help citizens adopt Bitcoin.