One Month After Its Legalization, the State of Bitcoin Use in El Salvador

The issues with using the Chivo Wallet have not been fully resolved. Users continue to complain, with some claiming to have lost money.
President Nayib Bukele said that the digital wallet is already receiving around $2 million per day in remittances.
Although Bitcoin use is increasing in the country, the number of businesses that accept Bitcoin payments is not.

Despite the fact that the number of Salvadorans buying and selling bitcoin is growing by the day, technical issues with the cryptocurrency remain in the small Central American country that accepted BTC as legal cash only a month ago.

So far, Salvadoran migrants have transferred at least two million dollars in bitcoin every day through remittances, utilizing the Chivo Wallet and ATMs set up by the Salvadoran government in numerous locations throughout the United States.

Despite this, despite the fact that bitcoin is now legal and required, just a small fraction of businesses in the country accept it. A variety of technical issues with the Chivo program have developed since the day the Bitcoin law went into effect.

Users that favor the adoption of blockchain technology have expressed their dissatisfaction with this. According to Reuters…