About 25% of El Salvador’s population uses Bitcoin, says president
Three weeks after adopting Ley Bitcoin, one in four citizens of El Salvador already use cryptocurrency in their daily lives. The information came from Nayib Bukele, the country’s president, in a tweet published on Monday (20).
According to Bukele, around 1.6 million people have already downloaded the official Chivo wallet. The number corresponds to 25% of the country’s 6.4 million inhabitants.
1.6 millones de salvadoreños ya utilizan @chivowallet 🥳
— Nayib Bukele 🇸🇻 (@nayibbukele) September 20, 2021
This means that the adoption of BTC in El Salvador is increasing at an accelerated pace. On average, there are around 94 thousand new people adopting it per day. As of September 17, around 1.1 million Salvadorans had opened their accounts at Chivo.
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The Chivo wallet works like a bank application, allowing you to send, receive and store BTC and dollar. With less than 20 days in operation, the application raised the rates of people banked in El Salvador, which is one of the lowest in the world.
Before the adoption of Ley Bitcoin, only 25% of the working population in El Salvador had a bank account. However, the app changed that scenario. Now another quarter of the population has access to hard currency as well as fast and cheap financial services.
However, the adoption of BTC is not 100% peaceful. Part of the population still protests against the use of cryptocurrency and are also against President Bukele. A BTC ATM was burned in the capital, San Salvador.
At the same time, BTC remains a novelty for the majority of the population. In fact, with the exception of the famous El Zonte region – where Bitcoin Beach is located – the rest of the country is still trying to adapt to the new law.