1.6 Million Salvadorans Now Using Bitcoin Chivo Wallet
El Salvador President Nayib Bukele gives us an update on the adoption progress of their government Bitcoin app - Chivo Wallet.Today, the president of El Salvador, Nayib Bukele tweeted out an update on the adoption progress of the nation’s recently launched Bitcoin app, Chivo Wallet. As of now, over 1.6 million Salvadorans have been onboarded to the app and now have access to BTC.The adoption of Bitcoin in El Salvador is ramping up quickly as just this past Friday, September 17, 2021, the President reported 1.1 million Salvadorans being onboarded to the app. These numbers are quite....
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According to a working study published by the U.S. National Bureau of Economic Research (NBER), most Salvadorans stopped using the Chivo wallet after getting their $30 bitcoin bonus. The report shows that the median Chivo wallet user made no deposits or withdrawals in a given month. NBER Study: Only 4 out of 10 Salvadorans Use Chivo Wallet After Government’s Bitcoin Bonus An April 2022 working study published by the NBER, asks if cryptocurrencies are indeed currencies after researching bitcoin (BTC) as legal tender in El Salvador. NBER conducted a face-to-face survey with 1,800....
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....
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....
During Bitcoin Week, reports of the Chivo Wallet stealing people’s Bitcoin reached a mainstream audience. Salvadorans have been dealing with the issue and reporting it to tech support for a while, without much luck. The international influencers that recently visited El Salvador have a much wider audience, and they are very confident that they know […]
El Salvador has now marked its 10th day of bitcoin being legal tender in the country. This is a huge milestone that could not have been predicted to happen this soon. But as with bitcoin, everything is happening on an accelerated timeline. The country had introduced its own government-backed crypto wallet named Chivo in order to enable its citizenry to spend bitcoin in the country. The adoption of this wallet was incentivized by the El Salvadoran government, which said that it was giving away $30 in BTC to every citizen 14 and above who downloaded the Chivo app. This announcement had come....