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El Salvadorians use their savings to buy bitcoins

El Salvador’s President Nayyib Bukele said that the people of the country liked the state-owned cryptocurrency wallet Chivo. At the same time, the inflow of funds to the accounts of citizens greatly exceeds the outflow.

According to Nayib Bukele, Salvadorans often use the functions of cryptomats installed around the country to convert their dollar savings into bitcoin. This became especially noticeable during the growth of the rate of the first cryptocurrency.

“People deposit much more USD than they withdraw using Chivo ATMs. Today alone we have processed 24,076 payments, and the inflow of funds amounted to $ 3,069,761 in just a day “, – wrote President of El Salvador on Twitter.

Currently, there are more than 200 cryptomats installed in the country that work with the Chivo state wallet. The wallet has become really popular – at the end of September, more than 2 million residents of the country used the application. This is more than the largest bank in El Salvador.

Of course, the popularity of the wallet is influenced by the action on the part of the authorities – each new user is given $ 30 in bitcoins. However, as the President of El Salvador emphasized, the inflow of funds suggests that the country’s residents are interested in cryptocurrencies.

Recently it became known that the action of the El Salvadorian authorities attracted the attention of scammers. They steal personal data from Salvadorans in order to register with the Chivo wallet and receive a government grant of $ 30 in BTC.

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