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  • ligainggris4 posted an update 2 months, 3 weeks ago

    Technical Crash Hits El Salvador’s Bitcoin Digital Wallet

    Technical glitches have hit the government of El Salvador’s bitcoin digital wallet Chivo for the fourth day in a row. This is a setback that can discourage residents from registering, residents are reluctant to register for the application promoted by President Nayib Bukele.

    Problems with wallet access, withdrawing money from ATMs and data verification and the government of El Salvador not depositing the USD 30 bonus or around Rp 427,662 (assuming an exchange rate of Rp 14,255 per US dollar) that Bukele promised were the most common problems faced. This is based on interviews with at least 10 users and user complaints uploaded on Twitter and Facebook.

    Tattoo artist Melvin Vasquez (30) downloaded Chivo on Tuesday, 7 September 2021 when the bitcoin law came into effect, but has not been able to use it since.

    “I wanted to see if I could buy something, but it wouldn’t even let me in,” he lamented.

    He said they should have prepared more thoroughly. He considered, this is not so comfortable. User complaints have also piled up on Alphabet’s Apple Store and Google Play apps.

    “I uploaded it and entered all my data. Now when I want to login again, it doesn’t let me in and it doesn’t recognize my pin or face ID. “I have no other choice. Honestly, the app is really bad,” said one user.

    Bukele stepped in on Wednesday, September 8, 2021, to manage the full launch of a payment app that supports El Salvador’s adoption of bitcoin as legal tender.

    Chivo, which promises commission-free transactions and its government hopes to be adopted by the public without a bank account, has been cut off several times to fix the disruption.

    Government Target
    The government is targeting 2.5 million Salvadorans, about 39 percent of the population, to download Chivo which the local language says is “good”.

    Bukele assesses, bitcoin will allow residents of Salvaodr to save USD 400 million or around Rp. 5.70 trillion per year on remittance commissions.

    However, permainan togel online terpercaya people who send and receive dollars to El Salvador do not trust bitcoin. Some expressed fear of losing money, given the high volatility of cryptocurrencies.

    Based on Refintiiv data, bitcoin has experienced 10 percent or more daily trading moves 10 times this year, as it did in 2020 and 2019. In 2018 and 2017, there were 17 days each year with 10 percent or more movement.

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