El Salvador Bitcoin wallet shows ‘strong sign of adoption,’ exec says
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....
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CoinCorner, a Bitcoin Lightning-based card payment service provider, is looking to install NFC card readers across El Salvador to offer a seamless retail BTC experience. El Salvador-based Bitcoin (BTC) holders could soon spend their BTC using the “tap-to-pay” feature wherever the near-field communication services (NFC) card readers are available. The cardless pay service would be utilizing Lightning Network (LN) to facilitate retail BTC transactions.Contactless card payments are quite popular in the current fast-paced world, and with the help of LN, these services can now be utilized by....
El Salvador tapped crypto software firm AlphaPoint to fix numerous problems with its state Chivo wallet and help citizens adopt Bitcoin.
Fidelity's Jurrien Timmer believes that the significance of El Salvador’s Bitcoin move is “a little bit overplayed.” El Salvador’s adoption of Bitcoin (BTC) as legal tender is widely celebrated across the crypto ecosystem, but one expert believes the importance of the rollout was a little bit exaggerated.Speaking to CNBC, Fidelity Investments director Jurrien Timmer said that the significance of El Salvador’s Bitcoin move is “a little bit overplayed.”“Because it’s not like El Salvador has dropped the U.S. dollar as its peg,” Timmer explained. “It’s not like it switched from dollars as its....
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....
The reduction of the remittance cost seems to be the major reason for the adoption of Bitcoin by El Salvador. CABEI has recognized that remittances are a vital feature of El Salvador’s BTC adoption policy. Central American Countries May Adopt Bitcoin After El Salvador Recently, it was reported that the expectations of the RDB (Regional […]