{"id":482800,"date":"2022-02-03T17:00:11","date_gmt":"2022-02-03T17:00:11","guid":{"rendered":"https:\/\/ktsl888.com\/?p=482800"},"modified":"2024-06-11T14:11:11","modified_gmt":"2024-06-11T14:11:11","slug":"el-salvador-chivo-bitcoin-wallet-relaunch-to-serve-4-million-users","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/el-salvador-chivo-bitcoin-wallet-relaunch-to-serve-4-million-users\/","title":{"rendered":"El Salvador Chivo Bitcoin Wallet Relaunch To Serve 4 Million Users"},"content":{"rendered":"<p class=\"p2\">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.<\/p>\n<p class=\"p2\">\u201cBitcoin Day\u201d 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 some kinks to work out with the bitcoin wallet, and one of those kinks being the ability to function properly for all of the residents of the country has led to the relaunch of the Chivo wallet.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/volume-of-bitcoin-illiquid-supply-points-to-growing-bullish-sentiment\/\">Volume Of Bitcoin Illiquid Supply Points To Growing Bullish Sentiment<\/a><\/strong><\/em><\/p>\n<h2 class=\"p2\">Chivo Wallet Relaunch<\/h2>\n<p class=\"p2\">Since Chivo first launched last year, it has quickly grown in the number of active users. It eventually grew to 2.1 million users, a milestone that was celebrated by the president. However, this had started to present problems with stability and scalability. As with any good wallet, the Chivo wallet has to be able to expand to accommodate a large number of users, giving rise to the relaunch.<\/p>\n<p class=\"p2\">This new version of the app will allow more users to be able to access and use it seamlessly. It will eliminate the stability issues that arose with the first version. Thus making it a better fit for the expected more than 4 million users that will be using bitcoin as legal tender in the country. Users have been experiencing issues like missing funds, system issues, fradulent transfers, etc, which will be handled with the relaunch.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/cathie-woods-ark-invest-puts-bitcoin-at-1-million-by-2030\/\">Cathie Wood\u2019s ARK Invest Puts Bitcoin At $1 Million By 2030<\/a><\/strong><\/em><\/p>\n<p class=\"p2\">The El Salvadorian government is said to have partnered with AlphaPoint, a white label infrastructure provider that will work on making sure the Chivo wallet is always running and stable, as well as handling issues regarding scalability and social impact. This relaunch will solve a variety of existing issues, as well as add new features to provide a better user experience.<\/p>\n<p class=\"p2\">\u201cEl Salvador and President Bukele are truly leading globally with this first major experiment in Bitcoin adoption at a country-wide level. We are honored to be involved in the process and provide the scalable and reliable solutions needed for this massive undertaking,\u201d said Igor Telyantnikov, CEO\/Founder of AlphaPoint.<\/p>\n<h2 class=\"p2\">El Salvador To Install 1,500 Bitcoin ATMs<\/h2>\n<p class=\"p2\">In addition to the Chivo app relaunch, El Salvador has announced that it plans to deploy more ATMs to make bitcoin accessible to residents. The acceptance of bitcoin as legal tender had come with the installation of multiple bitcoin ATMs around the country to enable easy and swift payments. But the country is taking another step towards securing its title as bitcoin capital of the world.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/KeRJdtpP\/\" alt=\"Bitcoin price chart from TradingView.com\" width=\"1345\" height=\"686\"><\/p>\n<pre style=\"text-align: center\">BTC at $36K | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/UG2tjOD6\/\" rel=\"nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p class=\"p2\">El Salvador will add another 1,500 Bitcoin ATMs around the country, to be deployed in different locations. The country is putting these ATMs in place \u201cto more readily serve the population of El Salvador, the statement read.<\/p>\n<pre style=\"text-align: center\">Featured image from Reuters, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>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. \u201cBitcoin Day\u201d 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 some kinks to work out with the bitcoin wallet, and one of those kinks being the ability to function properly for all of the residents of the country has led to the relaunch of the Chivo wallet. Related Reading |\u00a0Volume Of Bitcoin Illiquid Supply Points To Growing Bullish Sentiment Chivo Wallet Relaunch Since Chivo first launched last year, it has quickly grown in the number of active users. It eventually grew to 2.1 million users, a milestone that was celebrated by the president. However, this had started to present problems with stability and scalability. As with any good wallet, the Chivo wallet has to be able to expand to accommodate a large number of users, giving rise to the relaunch. This new version of the app will allow more users to be able to access and use it seamlessly. It will eliminate the stability issues that arose with the first version. Thus making it a better fit for the expected more than 4 million users that will be using bitcoin as legal tender in the country. Users have been experiencing issues like missing funds, system issues, fradulent transfers, etc, which will be handled with the relaunch. Related Reading |\u00a0Cathie Wood\u2019s ARK Invest Puts Bitcoin At $1 Million By 2030 The El Salvadorian government is said to have partnered with AlphaPoint, a white label infrastructure provider that will work on making sure the Chivo wallet is always running and stable, as well as handling issues regarding scalability and social impact. This relaunch will solve a variety of existing issues, as well as add new features to provide a better user experience. \u201cEl Salvador and President Bukele are truly leading globally with this first major experiment in Bitcoin adoption at a country-wide level. We are honored to be involved in the process and provide the scalable and reliable solutions needed for this massive undertaking,\u201d said Igor Telyantnikov, CEO\/Founder of AlphaPoint. El Salvador To Install 1,500 Bitcoin ATMs In addition to the Chivo app relaunch, El Salvador has announced that it plans to deploy more ATMs to make bitcoin accessible to residents. The acceptance of bitcoin as legal tender had come with the installation of multiple bitcoin ATMs around the country to enable easy and swift payments. But the country is taking another step towards securing its title as bitcoin capital of the world. BTC at $36K | Source: BTCUSD on TradingView.com El Salvador will add another 1,500 Bitcoin ATMs around the country, to be deployed in different locations. The country is putting these ATMs in place \u201cto more readily serve the population of El Salvador, the statement read. Featured image from Reuters, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":482801,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,450,1119,1144,84356,84223,83729],"class_list":["post-482800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-atm","tag-btc","tag-btcusd","tag-chivo","tag-chivo-wallet","tag-el-salvador"],"acf":[],"yoast_head":"\n<title>El Salvador Chivo Bitcoin Wallet Relaunch To Serve 4 Million Users<\/title>\n<meta name=\"description\" content=\"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\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. 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