Hi, it’s been a while.
Since my last post, I had almost no time to reply or prepare new material for Reddit. I owe you the info about buying property and how to be safe here in El Salvador.
This time had been a complete rollercoaster for me since my family and co-workers’ family got covid so the amount of work I had to do by myself increase many folds.
Fortunately, nothing bad happened and everyone I know had almost recovered. Right now, most of the people in my country have flu…cough…omicron variant….
Anyways, let’s talk about Bitcoin.
Overall, there haven’t been any major events, the hype about BTC has decreased and as I have said many times, nothing has really changed.
There hasn’t been any type of crypto education aside from how to use chivo wallet.
Chivo wallet still has some issues, remember the identity fraud in previous posts? Many chivo wallet accounts were suspended, not sure what variable they (chivo company) use to mark an account as identity fraud but many people were mad because their chivo wallet was suspended…including my father…
My father doesn’t really care about BTC but wanted to give it a try, I downloaded chivo app and taught him how to use it, he had like $80. One day he told me he couldn’t access the wallet and that’s where I found his account was suspended. I called customer support and told me that my father has to personally go to a chivo point (the stand where the atm is located) and get assistance from one of the people there.
We arrived at the chivo point, told the story to a lady there, and start the verification process, she took photos and videos of my father face and his ID, fill some papers and we were told to wait 30 days…that was in December…up to this day my father account is still suspended, I did call again to customer service but they just told me to wait, technicians have a lot of work to do since there are many cases like this. Whether my father gets his money back or not, he won’t be using BTC again…
I know what you are thinking, why did you use a non-custodial wallet like chivo and not any other wallet?
That’s what my father wanted to use, period.
I even told him once…that’s not your money….
There is another type of fraud that has been seen since last year, they continue to open chivo wallet accounts using other people’s documents (identity fraud from previous posts) and somehow link them to the person’s bank accounts.
Remember that the chivo wallet allows you to send and receive money from a bank account.
In this way, they steal money from people’s bank accounts without leaving a trace (since no one has been caught).
At the moment, due to inflation, many products have risen in price.
I would suppose that due to the variations in the price of BTC, the only thing you hear on social media right now is “buy the dip”. The “BTC against inflation” is not used now compared to a couple of months ago. On the other hand, in 2021 remittances increased by 26% compared to 2020, you can read the official article of the central bank here. (Copy and use google translator) It should be clarified that it does not specify the transactions made through the chivo wallet.
I think that’s all for the time being, aside from people like my father whose account is suspended, and a few others whose money has been stolen…everything is fine.
As always, I’ll try to answer your questions.