Saudi Press

Saudi Arabia and the world
Friday, Jul 04, 2025

El Salvador's Bitcoin rollout hit by digital wallet glitches

El Salvador's Bitcoin rollout hit by digital wallet glitches

For a fourth day in a row on Friday, technical glitches marred attempts by Salvadorans to download and use the country's new digital wallet.

For a fourth day in a row technical glitches have beset the Salvadoran government's Bitcoin digital wallet Chivo on Friday, a setback that could discourage residents from signing up to the app promoted by President Nayib Bukele.

Problems accessing the wallet, withdrawing money from ATMs, and data verification, as well as the government not depositing the $30 (€25) bonus Bukele promised all Chivo users were the most frequent issues, according to interviews with at least 10 users and user complaints posted on Twitter and Facebook.

Melvin Vasquez, a 30-year-old tattoo artist, downloaded Chivo on Tuesday, when the Bitcoin law went into effect, but has since been unable to use it.

"I want to see if I can buy something, but it won't even let me enter," Vasquez lamented, after trying to buy pizza at a restaurant on the outskirts of San Salvador. "They should have prepared more... It is not so convenient."

User complaints were also stacking up in Apple's App Store and Alphabet's Google Play.

"I downloaded it and entered all my data. Now when I want to log in again, it doesn't let me and it doesn't recognize my pin or face ID. I don't have other options. Truthfully, a really bad app!" said one user.

Mistrust of Bitcoin


Bukele stepped in on Wednesday to manage the fraught roll-out of the payments app that underpins El Salvador's adoption of Bitcoin as legal tender.

Chivo, which promises commission-free transactions and his administration hopes will be adopted by the unbanked, has been disconnected several times to repair the glitches.

Bukele's administration is aiming for 2.5 million Salvadorans - some 39 per cent of the population - to download Chivo, named after a local word for 'good'.

He has argued that Bitcoin would allow Salvadorans to save on $400 million (€338.5 million) each year in commissions for remittances.

But many of the very people sending or receiving dollars to El Salvador are mistrustful of Bitcoin. Some expressed fears of losing money, given the high volatility of the cryptocurrency.

Bitcoin has experienced daily trading moves of 10 per cent or more 10 times this year, as it did both in 2020 and 2019, according to Refinitiv data. In 2018 and 2017, there were 17 days each year of 10 per cent moves or more.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
×