Yesterday, September 7, Bitcoin was recognized as legal tender in El Salvador. At the same time, the Chivo BTC storage wallet was launched, but its launch was accompanied by bugs and problems.
The wallet was originally supposed to be available at 00:00 local time on Android and iOS mobile devices. However, the launch was delayed. At first, the application appeared on the Huawei platform, and App Store users were able to download the wallet only by 11 a.m. The wallet appeared in the Google Play app store even later.
But even after the application appeared, users complained about the inability to register. Therefore, the Chivo developers suspended the wallet for a while in order to connect additional capacities. They succeeded, and although complaints about the poor performance of the application continued, users began to register and receive the bitcoins promised by the El Salvadorian government.
El Salvador’s authorities are giving out $ 30 in BTC to every citizen of the country who registers in the Chivo wallet. However, the received bitcoins cannot be withdrawn – they can only be transferred to other Chivo wallets and used to pay for purchases in stores. If the user bought additional bitcoins, then he can withdraw them anywhere.
Note that on September 7, the cryptocurrency market unexpectedly collapsed. The BTC rate immediately lost 25%, and most altcoins fell even more. The reasons for the collapse are unclear, but analyst Scott Melker suggested that it was “an act of intimidation” of the population of El Salvador.