Bitcoin has failed to take off in El Salvador
More than 60% of respondents ditched the government’s Chivo wallet after using the $30 bonus. A staggering 89% of Salvadorans have never received remittances with the help of the app . Ninety-nine percent of the respondents have never paid taxes with Bitcoin.Sixty percent of citizens did not download Chivo at all despite the fact that most of them have access to a smartphone with internet access.
As of April, 80% of companies in El Salvador still do not accept the largest cryptocurrency despite the fact that the controversial Bitcoin Law requires mandatory acceptance. Seventy-one percent of those firms that did report sales of Bitcoin ended up converting them into U.S. dollars .
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