Wallet

El Salvadorans seem to confirm that Bitcoin is the best solution for remittances between countries. According to President Nayib Bukele, the national Chivo wallet registered over $3 million worth of transactions in Bitcoins, most of which were sent from abroad.

Volcanoes are known for their catastrophic destructive potential. The citizens of Pompei knew this full well. However, with the advancement of mankind, even this mighty force of nature does not seem so scary anymore. Some crazies have found a way to harness it for profit. For bitcoin mining, for example.

Despite reported issues with Chivo wallet, the citizens of El Salvador actively embrace bitcoin as their second national currency. About 25% of the population shifted to cryptocurrency including Bitcoin (BTC).

It seems that the introduction of Bitcoin in El Salvador is not going as smoothly as expected. Although President Bukele publicly assured citizens that the problems with the Chivo wallet have been fixed, users are still reporting issues.

The Central American Republic El Salvador is the first country in the world to make Bitcoin the official national currency. The Bitcoin exchange rate reached a high of $52,445 in the last 24 hours, but then crashed and traded below $45,000.

One of the most exciting innovations brought to financial ecosystems by blockchain is the capability to execute digital transactions between two parties without the need for an intermediary.

There was an extraordinary proposal being raised by a tycoon on the voting page of the world’s 1st decentralized charity project, LEC (Love Earth Coin).

General digitization has brought most of the world's population online. Most operations from virtually all walks of life, including payments, are going digital. Therefore, wallets have also gone digital. Storing money in a pocket is a relic of the past.

Digital wallets have been here for decades but its adoption and use has grown by about 70% during the Coronavirus plague era and expected to double this figure by 2025.