Chivo Wallet is Better than Bitcoin.com Wallet!

28 117
Avatar for Eirolfeam2
3 years ago (Last updated: 2 years ago)

You're probably wondering about the title of this article already, but before we move to that topic, let me just share to you my personal experience of using Bitcoin.com wallet.

I started using the Bitcoin.com wallet last December 16, 2020 after reading a lot of good feedbacks and recommendations to use this wallet all over my read.cash notification from the other users. I wanted to try it myself so I immediately downloaded it on Play Store, and I think that is one of the best decisions I have ever made in my Bitcoin Cash journey.

In an article I have written on read.cash before about My Experience using Bitcoin.com wallet for Bitcoin Cash (BCH), I have shared that I was a bit hesitant to use this wallet because I preferred to use coins.ph wallet as I've been using that for a long time already.

However, after using Bitcoin.com wallet for the first time, it immediately caught my interest because my experience using it was way better than using coins.ph wallet. I didn't have to wait that long for the Bitcoin Cash to arrive in my wallet, and the price of BCH is more accurate. And since then, I have decided to use the Bitcoin.com wallet for my daily use.

So what is the point of sharing my experience of using Bitcoin.com wallet, you might ask? That is to debunk the myth surrounding it that

Chivo wallet is better than Bitcoin.com Wallet!

Before I prove my point, let's dig deeper first about these two wallets and compare which is better, Chivo or Bitcoin.com.

THE CHIVO WALLET:

Background of Chivo Wallet:

El Salvador is the first country to make Bitcoin a legal tender and the country launched its official Bitcoin wallet, the Chivo Wallet, after the country's Bitcoin law comes into effect on September 7, 2021.

And to help entice usage of this wallet, Chivo offered Salvadoran citizens a complimentary $30 Bitcoin deposit for first-time users.

President Nayib Bukele claims that Chivo wallet has 2.1 Million Salvadorans who are actively using the wallet, which is probably because of the incentive.

What is Chivo Wallet?

"Chivo wallet is a Bitcoin wallet that allows Salvadoran citizens and businesses to send payments in Bitcoin or dollars anywhere around the world. It can automatically convert Bitcoin into US dollars or citizens can withdraw Bitcoin holdings for cash at Bitcoin ATMs in the country."

With this definition and usage of Chivo wallet, I can say that it is similar to coins.ph, where Filipinos can buy, sell, and store cryptocurrency in the Philippines, which is also regulated by the Central Bank of the Philippines.

Benefits of using Chivo Wallet:

  • You will receive $30 in Bitcoin for consumption.

  • Chivo Wallet gives people the opportunity to make quick and easy cross-border payments anytime, and make payments without transactions.

  • You can withdraw dollars whenever you want and handle the currency you want (BTC or USD).

Issues and Disadvantages of using Chivo Wallet:

  • The Chivo wallet was disabled in the morning of September 7 just hours after El Salvador became the first country to approve the use of Bitcoin as legal tender.

  • Technical glitches such as withdrawing money from ATMs, data verification, and El Salvador government not depositing the $30 bonus President Bukele promised all Chivo users, have beset the Chivo wallet that could discourage residents from signing up to the app.

  • Chivo Wallet is tied to the government, which means they can freeze it any time, making it as centralized as a bank. This opposes one of the greatest benefits that Bitcoin can offer, decentralization.

While the Chivo Wallet will drive mass adoption for Bitcoin, it doesn't change the fact that it still has a lot of issues and disadvantages in using the wallet.

THE BITCOIN.COM WALLET:

Background of Bitcoin.com Wallet:

The Bitcoin.com wallet was launched in August 2017, which allows you to buy, sell, store, swap, send and receive cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH). You can also store SLP Tokens here.

I have been using this digital wallet for almost a year now as it is a safe and simple app with user-friendly interface, and with a lot of helpful features.

Benefits and Advantages of using Bitcoin.com Wallet:

  • It is a fully non-custodial crypto wallet trusted by million users. Unlike Chivo that is tied to the Government, Bitcoin.com is non-custodial, which means it is only you who have the access to your crypto because you have its private keys. In the crypto-world, there is a rule that "not your keys, not your crypto".

  • Bitcoin.com wallet provides you every feature you need for economic freedom in one digital wallet.

Buy, sell, and trade:

Build and manage your crypto portfolio from your mobile device. Buy with your credit card, payment app, or bank account. Instantly swap between cryptocurrencies. Protect your returns by trading into USD stablecoins.

Manage your spending:

Create ‘saving’ and ‘spending’ wallets to organize your funds. Add personal notes to transactions and get a complete history of buys, sells, trades, and spends.

Effortless security:

Hold the keys to your digital assets in a wallet so secure, no one can access it except for you - not even us. Protect your money with passcode and biometric security features. Automatically back up all your wallets and restore access with a single custom password.

Move money freely:

Send and receive cryptocurrencies anytime, anywhere - no questions asked. Take advantage of fully-customizable fees for sending. Create unlimited wallets to support your privacy.

Track the markets:

Stay informed with real-time market data displayed on your home screen. Get in-app access to the news that matters. Receive notifications when the market is moving.

Source: wallet.bitcoin.com

Conclusion:

With all these reasons and comparisons where one wallet is better than the other, claiming that Chivo wallet is better than Bitcoin.com wallet is a delusion.

Bitcoin.com wallet has been serving millions of users from all over the world for years now. It is a fully non-custodial digital wallet that cannot be banned. It is already an established wallet that is consistently innovating, and keeps launching useful features. Therefore,

Bitcoin.com Wallet is better than Chivo Wallet.


My SmartBCH Address:

0x77C55F90014f99B4b424C4dd3240A4f105B11B14

18
$ 15.07
$ 12.31 from @TheRandomRewarder
$ 2.00 from @SofiaCBCH
$ 0.24 from @Pantera
+ 9
Avatar for Eirolfeam2
3 years ago (Last updated: 2 years ago)

Comments

Great Article! Best of luck in the draw

$ 0.00
2 years ago

The title was a cheat, it already seemed weird to me, hehe. One of my first wallets was blockchain, I don't recommend it, I have my BTC lost, I can enter but I can't mobilize them. Another one was Xapo, I don't recommend it either and another one Coinbase, I also lost my cryptos here.

$ 0.00
3 years ago

Bitcoin.com wallet is my first crypto wallet ma nagtagal sakin. Si coins.ph naman ni uuse ko lang siya to transfer all my balances kapag need na convert to fiat. kahit minsan eh ang nakakainis yung laging red na nalabas kahit malakas naman mobs data mo

$ 0.02
3 years ago

Same. Hahaha! Un nga lang nakakaasar sa bitcoin.com wallet. Sana mafix na kung bug man un.

$ 0.00
3 years ago

Can a non El-salvadorian make use of chivo wallet effectively?

$ 0.02
3 years ago

I think No. It's exclusive for Salvadorans only.

$ 0.00
3 years ago

Awit kala ko mas maganda chivo base sa title hahaha. Balak ko sana lumipat, di pala😆

$ 0.02
3 years ago

Hahahaha! Di available satin yang Chivo. 🤣

$ 0.00
3 years ago

Vpn🤣

$ 0.00
3 years ago

Yeah, Bitcoin.com Wallet is more superior than any other wallet. I mean, reading the title than the body of the article will change my perspective and opinions. Lol. I really thought you mean it.

$ 0.02
3 years ago

Hahaha! Click-bait title lang. 🤣 But yeah, nothing comes close to bitcoin.com wallet.

$ 0.00
3 years ago

Nacurious ako sa chivo,.maynfree 30$ lahat?

$ 0.02
User's avatar Yen
3 years ago

Sa mga taga-El Salvador lang po available ung wallet. Hahaha! 😹

$ 0.00
3 years ago

My first wallet was coins.ph but since they implemented the no verifications I am not able to use it anymore that is why I downloaded bitcoin wallet, untill now Im using it with eased.

$ 0.02
3 years ago

Yeah, the KYC policy of coins.ph made it lose some of its customers. Good thing we have bitcoin.com wallet.

$ 0.00
3 years ago

So true.

$ 0.00
3 years ago

Indeed! Bitcoin is very manageable and friendly user. I agree too that bitcoin is already proven and tested.

$ 0.02
3 years ago

So true po. 💯

$ 0.00
3 years ago

Any wallet that is tied to the government is already risky to have since that means, they can confiscate your assets whenever they want.

$ 0.02
3 years ago

That's true, and they can monitor your every transaction.

$ 0.00
3 years ago

Sa tatlong nagamit ko na wallet bitcoin.com lang ako nagtagal haha

Well maganda kasi piwede ka magstore ng pera mo at mabilis maka recieve ng bch

$ 0.02
3 years ago

Ay. Sa coins.ph ako nagtagal pero mas loyal ako sa bitcoin.com. Hahahaha 🤣

$ 0.00
3 years ago

I have used so many crypto wallets in my life, but Bitcoin wallet is so easy even to a layman

$ 0.02
3 years ago

So true. Very user-friendly.

$ 0.00
3 years ago

I have been using Bitcoin.com wallet, and I have had a great experience with it; the security is top-notch, and the withdrawals are quick. Overall I think it may be the best wallet, but this is my opinion.

$ 0.02
3 years ago

I agree to that. It's the best wallet for me too.

$ 0.00
3 years ago

I don't trust anything governments release, and I never trust a crypto wallet. I prefer bitcoin.com

$ 0.02
3 years ago

Yeah as they can ban it anytime. Bitcoin.com is safer.

$ 0.00
3 years ago