El Salvadors Chivo Wallet completely unreliable, users say
El Salvadors Chivo Wallet completely unreliable, users say
- Some Chivo users state that they cannot move funds to cold storage
- It is unclear whether the transmission problems are in any way related to liquidity problems
While the markets for cryptocurrencies continue to slip, El Salvadorians say who use the state-managed Chivo-Bitcoin letter bag so that they are unable to postpone their assets into containers that are outside the government's control.
Two users who said that they had no problems with the transfer of Geldern, Blockworks said that they can no longer move their bitcoins from Chivo to the Cold Storage. The users spoke on the condition of anonymity with block works.
"Chivo is completely unreliable, and every day we hear more and more stories about fraud and theft," Andres Pineda, treasurer of Banco Cuscatlan in El Salvador, told Blockworks. "My account was actually hacked about a month ago, so I can't even log in to check if I still have my credit."
Other users have taken Twitter . A user who tried to move Bitcoin from a chivo letter bag to Binance could not complete the transaction.
The reports come after months of complaints about Chivo's security.
When the app was started in September, the app required no photo ID, but only a date of birth and a national ID card number (similar to a social security number), which led to fraud. Citizens and business owners also commented concerns about the long time that was needed for access to money Reports .
As a result, relatively few companies now accept Bitcoin, say the citizens."The only companies that willingly accept Bitcoin, apart from a few, are large companies such as Starbucks and McDonald’s who have technology teams to implement it," said Alexandra Dumitru, a consultant and advocate for cryptocurrencies, who is living in El Salvador after the start of Chivo. "It is a fairly small percentage of companies in the country, especially when you consider how many small Tiendas there are [convenience stores] and what else there is."
In September, El Salvador taped the institutional crypto wallet provider Alphapoint to improve his in-house Chivo Wallet.
. .
The contribution El Salvadors Chivo Wallet "completely unreliable", users say, is not financial advice.
Kommentare (0)