According to a working study published by the U.S. National Bureau of Economic Research (NBER), most Salvadorans stopped using the Chivo wallet after getting their $30 bitcoin bonus. The report shows that the median Chivo wallet user made no deposits or withdrawals in a given month.
NBER Study: Only 4 out of 10 Salvadorans Use Chivo Wallet After Government’s Bitcoin Bonus
An April 2022 working study published by the NBER, asks if cryptocurrencies are indeed currencies after researching bitcoin (BTC) as legal tender in El Salvador. NBER conducted a face-to-face survey with 1,800 Salvadoran households during the month of February 2022. The study shows that Salvadorans are not using the Chivo wallet that much and in February, El Salvador’s central bank noted that only 1.6% of remittances were sent via digital wallets.
“Most users who used Chivo after spending the $30 bonus do not engage with the app intensively,” the report highlights. In fact, the NBER researchers found that th
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