Salvadoran association warns about risks when sending bitcoin and dollars with Chivo Wallet

transaccoines-bitcoin-goat-wallet-error

Key facts:
  • The use of self-custodial purses eliminates this type of inconvenience.

  • The problem would only be in BTC shipments through the main network, but not in the Lightning Network.

Transferring bitcoin (BTC) or dollars from Chivo Wallet to other wallets or bank accounts could be “something catastrophic.” This is stated by Carlos Palomo, computer specialist and president of the Tracoda association of El Salvador.

Tracoda, acronym for the Transparency, Social Comptroller and Open Data association, conducted tests with the Chivo wallet and the results, according to reports from the local press “They have not been positive.”

Among the tests carried out is the sending of BTC from Chivo to other wallets such as Muun and Trust Wallet. Reportedly, the transfer made three weeks ago has not yet reached the destination address.

Palomo mentions having opened a query in the Chivo support service that, so far, had no solution, although they inform him that the case is still “pending.”

Similarly, they have been reported inconveniences to transfer dollars from Chivo to bank accounts. The difference, according to Tracoda, is that, in these cases, the time to solve the problem was about three days on average.

For all this, Palomo suggests to Salvadorans “not to make transfers from Chivo to other wallets.” As mentioned at the beginning of the article, the computer scientist maintains that It could be a “catastrophic thing” for a micro-entrepreneur or entrepreneur to risk their money like this.

Previously, the specialist had recommended use non-custodial wallets, that is, they give the user possession of their private keys. As he explained on that occasion, that is something more in line with the “philosophy of Bitcoin.”

CriptoNoticias has consulted the Chivo Wallet team about the case through its public communication channels, but, so far, no response has been received. If obtained, this article will be updated to reflect it.

Chivo users report delays in bitcoin shipments

The comments of some users on the social networks of the official bitcoin wallet of the Salvadoran Government confirm the observations made by Tracoda.

“I informed them about a transfer of USD 30 to Tigo Money and it has not fallen since September 26,” says the Twitter user @FernandooBernal. He adds: «I write to you here, and [el mensaje queda] in seen. They just see my message, they don’t even say “ok, let’s try to fix your problem.” Any. Terrible service”.

Another user of the same social network, @ Snake_ejes85, reports having a pending transfer for 3 days. In that case, it is a shipment of dollars from Chivo to the Davivenda bank.

Too, @ Alex_Vasquez86 he claims to have sent BTC from his Chivo wallet to an apparently other wallet address and is listed as “pending” since September 28. This Salvadoran accompanies his claim with a screenshot of the Government wallet in which the legend is observed: “This transaction may take up to 10 minutes to be processed.”

transaccoines-bitcoin-goat-wallet-error
Chivo users report that their BTC shipments
towards other purses have been pending for
several days. Source: @ Alex_Vasquez86 / twitter.com

Apparently, these inconveniences would only occur when sending through the main Bitcoin network. As can be seen in some tutorials made by youtubers, the shipments from Chivo Wallet through the Lightning network are executed correctly with instant accreditation.

Chivo and Bukele celebrate the price of BTC, but remain silent on the problem with the shipments

Since its launch almost a month ago, the use of the Chivo wallet has not been without various difficulties, as this medium reported. In the early days, the application could not be downloaded in all stores. In addition, the government had to briefly disable it shortly after launch, to fix server problems.

Later it became known about privacy issues that were finally resolved. A bug it displayed the names of users on invoices issued on the Lightning network.

More recently, in early October, Chivo found itself out of service for several minutes. From the official count on Twitter they attributed the responsibility for the inconvenience to a technician who, supposedly, forgot to put the window “we are in maintenance”.

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The Chivo wallet has presented several drawbacks since its launch. Source: Twitter.

Regarding the inconveniences with the transfers, neither the official Chivo account on Twitter nor the president of El Salvador, Nayib Bukele, have made public comments. Yes, instead, they have published tweets related to the recent BTC price increase which, for the first time since May today exceeded USD 55,000.

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