According to the American non-profit organization – the National Bureau of Economic Research (NBER) – the majority of El Salvadorans (60%) have not downloaded the Chivo Wallet (a feature that facilitates bitcoin transactions). Additionally, there have been almost no downloads since September 2021, when the country became the first nation to adopt the asset as legal tender.
Bitcoin Adoption in El Salvador Not Progressing
Last year, the Central American state made the headlines when it became the first to embrace bitcoin as an official payment method inside its borders. Despite the enthusiasm surrounding the news, the initiative did not receive a warm welcome from all El Salvadorans. Some even took to the streets, protesting against the government’s decision.
The recent study conducted by the NBER revealed that most locals remain rather negative towards the bitcoin adoption. The research stated that 68% of the country’s residents are aware of the existence of Chivo Wallet, but on
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