A restaurant in Chiltiupan, El Salvador, accepting Bitcoin. Courtesy of Reuters
- El Salvador Chivo's official BTC wallet is 95% ready to resume full operations.
- President Bukele says Chivo will support recharging via credit, debit and gift cards.
The wallet El Salvador's official Bitcoin Chivo is almost completely patched, and will soon allow citizens to resume downloading and recording, in a process that awards them $ 30 for choosing Chivo over 'other BTC wallets.
Bukele assured citizens on Monday on a Twitter feed update that Chivo is now 95% corrected and will be back online to allow new inions and blocked inions in a few days.
The Chivo wallet first encountered technical difficulties shortly after its deployment, which forced the country to temporarily deactivate it, indicating that the server was overloaded. the prmain cause of the crash. At the time, President Bukele stated that Chivo was under mainten ance to increase server capacity and encouraged users to download the application and provide feedback on their inion progress.
Currently, users of new model smartphones cannot download Chivo app or register their accounts due to the ongoing glitches. Despite ongoing issues with Chivo, Bukele said the 200 ATMs in Salvador are fully operational, as are the other 50 installed in the United States for use by Salvadorans.
51 other centers Chivo support services also work perfectly, the president said, admitting that the deployment posed a much bigger challenge than initially anticipated.
Chivo sera compatible with credit / debit cards
Despite the setback, Chivo wallet registered over 500,000 users in its first week, which is about 8% of the total population of 6.5 millions. The president also noted that companies are increasingly accepting Bitcoin for payments using Chivo and other wallets.
The wallet has several benefits for users, including deposits, withdrawals, and withdrawals. free shopping. Additionally, users can transfer funds between their bank accounts and Chivo wallets. The option to top up Chivo with credit, debit and gift cards will also be activated from Tuesday 14.
The Bukele government has made particular efforts to write off its citizens of the hefty tax s associated with the transaction directly over the Bitcoin network. Bukele said the previously required minimum balance limit of $ 5e for transactions on Chivo has been reduced to $ 0.01. Other perks, such as discounts on special products, will follow soon, Bukele promised.
Chivo has been launched in partnership with several partnerships, including the leading cryptocurrency exchange of Latin America Bitso, fintech and American cryptocurrency bank Silvergate Bank, the digital currency company. Athena Bitcoin and blockchain development company Algorand.
While the majority of the cryptocurrency community has expressed support for BTC as legal tender in El Salvador, polls and street protests have indicated a loathing for Bitcoin as the official currency by many Salvadorans.
In a survey of 1,281 people, more than 67% said they were not from agreed with the government decision, while only 32% thought it was a good idea. Citizens expressed their concern aboutthat the main beneficiaries will be wealthy foreign investors as well as government and business leaders.