El Salvador Chivo Bitcoin Wallet Relaunch To Serve 4 Million Users

In fact, El Salvador, a country that has become infamous for being the first sovereign nation to accept bitcoin as a legitimate tender, continues its journey through uncharted waters. To make this move a reality, the country had launched own government-approveditsbitcoin wallet, Chivo for carrying out crypto transactions in the country. as a matter of fact Encouraging residents to the accept wallet by offering a $30 bonus on sign-up.

“Bitcoin Day” has since come and gone since then and El Salvadoran citizens are settling into using the cryptocurrency as a legitimatetender 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 . residents of the country has led to the relaunch of the Chivo walletthe

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Chivo Wallet Relaunch

Since Chivo first launched last year, it hasquickly grown in the number of active users. eventually grew to 2.1 millionItusers, a milestone that was celebrated by the president. As you may know, 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 novel version of the will allowappmore users to be able to access and apply it seamlessly. It will as a matter of fact eliminate the stability issues that arose with the first version. Actually, Thus making from another perspective it a better fit for the expected more than 4 million users that will be using bitcoin as authorized tender in the country. Users have been experiencing issues like missing funds, system issues, fradulent transfers, etc, which will be handled with the relaunch.

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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 more than ever existing issues as well as add fresh features to provide a better consumer background.

Actually, “El Salvador and President Bukele are truly leading globally with thisfirst 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 from another perspective this massive undertaking,” said Igor Telyantnikov, CEO/Founder of AlphaPoint.

El Salvador To Install 1 from another perspective ,500 Bitcoin ATMs

In addition to the Chivo software 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 uncomplicated and swift payments. But the country is taking another step towards securing its title as bitcoin . of the worldcapital

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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 “to more readily serve the population more than ever of El Salvador, the statement view.

Featured image from Reuters, chart from TradingView.com