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El Salvador’s Bitcoin Digital Wallet is troubled by technical glitches, it will be the fourth day in a row when the government-backed Bitcoin digital wallet Chivo runs into trouble.
Chivo, Salvadoran government bitcoin digital wallet is promoted by El Salvador’s President Nayib Bukele. Users are facing a number of issues while withdrawing money from ATMs, and data verification, also the government is not depositing the $30 bonus promised to all Chivo users being some of the regular issues.
Users are facing issues while downloading the Chivo app after the bitcoin law was implemented in the country but are not able to use it.
Melvin Vasquez, a 30-year-old tattoo artist, and a Chivo app user said, “I want to see if I can buy something, but it won’t even let me enter,” Vasquez said after trying to buy pizza at a restaurant on the outskirts of San Salvador. “They should have prepared more… It is not so convenient.”
Yet another Chivo app user said, “I downloaded it and entered all my data. Now when I want to log in again, it doesn’t let me and it doesn’t recognize my pin or face ID. I don’t have other options. Truthfully, a really bad app!”
After the payments app was rolled out after El Salvador’s adoption of bitcoin as a legal tender, it has been disconnected several times to fix the glitches. Chivo nonetheless promises to offer commission-free transactions.
The country is expecting nearly 2.5 million users in Salvador, nearly 39% of the population to download Chivo. The word ‘Chivo’ means good in the local language. While many users dealing sending or receiving dollars to El Salvador still don’t trust bitcoin, the government argues the bitcoin will allow Salvadorans to save on $400 million each year in commissions for remittances.
People expressed their fears of losing money due to the high volatility of cryptocurrency.