Survey: 93% of Companies in El Salvador Still Do Not Accept Bitcoin Payments

On October 8, according to foreign media reports, after Bitcoin became legal tender, only a few companies in the Americas in El Salvador accepted Bitcoin payments.

In addition, the official digital wallet Chivo encountered various problems during operation, which could not be resolved after complaints.

The report pointed out that currently, in El Salvador, only a few foreign companies such as McDonald's, Starbucks, and Pizza Hut accept Bitcoin payments, and most local stores that meet rigid demand do not support Bitcoin payments. Adalberto Galvez, a 32-year-old construction worker, said that when he used the digital wallet Chivo to withdraw cash, he inexplicably lost $220.

Subsequently, a complaint was filed with the relevant authorities, but no response has been received until now. In addition, dozens of El Salvador residents have had the same experience as Galvez. Although Chivo means "good" in El Salvador, it has brought a very bad experience. Now they rarely use the digital wallet Chivo.

What's more serious is that due to the government's incentives, as long as you register to use the digital wallet Chivo, you can get a $30 Bitcoin reward. Some people have developed this into a black industry. Many people found that their identities had been stolen when they registered and could not get the money at all. However, Salvadoran President Nayib Bukele said that 3 million people have downloaded Chivo. Although there seem to be a lot of users, a foundation conducted a survey of 233 companies in different industries in El Salvador and found that 93% of them still do not support Bitcoin payments. This also means that the main function of the digital wallet Chivo is still to remit and withdraw money.