Welcome readers to the Metaverse.
Today's cryptocurrency ten round boxing match is between two wallets.
In the blue corner we have the Chivo wallet and in the green corner we have the Bitcoin.com wallet. Let's meet the two contestants who have weighed in already.
Chivo Wallet
On the 7th of September 2021 El Salvador launched it's state endorsed cryptocurrency wallet called the Chivo wallet. Did you know that Chivo is actually Salvadoran for cool? No, I did not know that either. But how cool or chivo really is the Chivo wallet? This boxing match will give us the answers.
Bitcoin.com Wallet
The current version of Bitcoin.com was re-launched in 2015. From 2015 up to August of 2019, Bitcoin.com was run by a crypto enthusiast named Roger Ver. It has undergone various and upgrades and had enhancements since then.
The Cryptocurrency ten round boxing match.
The voting for each round will be with chivo cool points, the winner in the round gets 1 chivo cool point, the loser will get 0 chivo cool points, if the round is a draw or a tie, then both wallets will be scored with 0.5 chivo cool points.
Round 1 Ease of Installation
Both wallets are available via the apps stores. You simply download onto your smartphone. Provided you have internet access this is extremely simple, as generally we all have experience in downloading apps, or know someone that does.
Score Chivo Wallet 0.5 chivo cool points Bitcoin.com Wallet 0.5 chivo cool points
Round 2 Registration
Once you have downloaded the Bitcoin.com wallet you then create an account. You can connect your google account and that is you registered and your Bitcoin.com wallet is functional in a matter of seconds.
With the Chivo wallet you need to input your phone number, then receive a code on your phone and then put that code into the wallet.
Chivo wallet then requires the user to use the nine-digit numbers on their identity cards, known as DUI for its acronym in Spanish and then proceed to facial recognition. This has led to alleged stolen identity problems, with many users complaining that their accounts have been opened by somebody! So a long-winded process that is not failsafe.
Score Chivo Wallet 0 chivo cool points Bitcoin.com Wallet 1 chivo cool point
Round 3 Free money/Airdrops
The El Salvador government airdops $30 into every newly created wallet, one per citizen. As you probably know El Salvador has officially adopted bitcoin as legal tender.
One drawback is that this free $30 cannot be withdrawn, and must be used to purchased goods, however it is still better than nothing. Bitcoin.com wallet needs the user to fund the wallet or transfer cryptocurrency.
Through social media Bitcoin.com wallet does run various competitions and airdrops on an ad-hoc basis. These are a great chance of reward to Bitcoin.com walletholders but are no use when you open your wallet for the first time.
Score Chivo Wallet 1 chivo cool point Bitcoin.com Wallet 0 chivo cool points
Score after the first 3 rounds
A close contest so far, with both Chivo wallet and Bitcoin.com wallet trading blows and the scores are:
Chivo Wallet 1.5 points and Bitcoin.Wallet 1.5 points
We are tied in these even match! Let's get ready to rumble and carry on to round 4.
Round 4 Variety of Crytocurrencies
When El Salavador decided to make Bitcoin an official currency of their country, the president announce that the Chivo wallet would be available. However, the only currencies available are Bitcoin (BTC) and the US dollar (USD). Obviously this is very limited in choice.
When you open your Bitcon.com wallet app you have three cryptocurrency wallets shown to you, these being Bitcoin Cash (BCH) Bitcoin (BTC) and Ethereum (ETH). There is now a swap feature in the wallet that lets the user swap assets into either of the above three assets or
Tether USDt - SLP (USDt)
flexUSD - SLP (flexUSD)
Compound - ERC20 (COMP)
SushiToken - ERC (SUSHI)
Uniswap - ERC20 (UNI)
USD Coin - ERC20 (USDC)
Tether USDt - ERC20 (USDT)
Wrapped BTC - ERC20 (WBTC)
yearn.finance - ERC20 (YFI)
Whilst the list on Bitcoin.com Wallet could be vastly improved it is far greater that the only simple BTC choice that the Chivo Wallet currently has.
Score Chivo Wallet 0 chivo cool points Bitcoin.com Wallet 1 chivo cool point
Round 5 Staking
Part of the beauty of the crypto world is having the ability to earn passive income. Let your coins earn more coins while you sleep. Obviously this does require a great deal of DYOR (Do Your Own Research) from the user, but the rewards are there to be had for the diligent user.
Chivo Wallet offers no staking options.
Bitcoin.Com wallet currently offers the ability to earn Interest with flexUSD at a rate between 10-20% APY.
So by the user staking their flexUSD they will be earning interest.
Score Chivo Wallet 0 chivo cool points Bitcoin.com Wallet 1 chivo cool point
Round 6 Gift Cards
With Christmas coming, what a wonderful gift to give someone a gift card bought with your crpto.
Chivo Wallet does not directly offer Gift Cards.
Bitcoin.Com Wallets offers the option for the user to buy gift cards from their wallet.
Launching the Gift Card option from within the Bitcoin.Wallet lets the user choose between a plethora of gift cards from Burger King to Uber to Xbox. There is a great list to choose from and it would make a supercool from the user to a loved one this Christmas.
Score Chivo Wallet 0 chivo cool points Bitcoin.com Wallet 1 chivo cool point
Score after the first 6 rounds
After a bright start, Chivo Wallet is on the ropes, and Bitcoin.com waller is landing a few telling blows and taking a lead on the judges scorecards. Chivo Wallet really needs to up their game to win this contest and be the better and most chivo wallet and the scores are:
Chivo Wallet 1.5 points and Bitcoin.Wallet 4.5 points
Bitcoin.com Wallet just needs one more point to win this enthralling match, has the Chivo Wallet got the stamina and innovation to come back? Let's find out!
Round 7 Games
Many people love to play games and many people love to win money. Who loves winning money by playing games? I know I do!
Chivo Wallet has no games on the wallet.
Through Joystick.club the Bitcoin.com Wallet has access to five arcade style games that can make the user money. These games are playable directly from the Bitcoin.com wallet. These games are quite addictive and fun to play.
Score Chivo Wallet 0 chivo cool points Bitcoin.com Wallet 1 chivo cool point
Round 8 Speed of Transactions
In general users of both Chivo Wallet and Bitcon.com Wallet have reported that transactions are fast. Many users in El Salvador receive remittances from their relatives in the United States and in general they are reported as being received fast, and that they are able to go to one of the state sponsored Chivo ATMs and withdraw money.
Bitcoin.com Wallet users have always been reporting fast transactions. In this day and age this is something that is needed. We live in an instant gratification society and these wallets both let our gratification be satisfied almost instantly.
There were several reports of glitches in the Chivo wallet in the beginning, and always there are individual cases where slow transactions are recorded by users of both wallets, and for this reason this the round has been scored as a tie.
Score Chivo Wallet 0.5 chivo cool points Bitcoin.com Wallet 0.5 chivo cool points
Round 9 Fees
All Bitcoin transactions include by default a network transaction fee which must be included in the transaction by the user to ensure that a miner picks up the transaction and includes it in a block.
The amount of this fee will depend on the size of the transaction (determined by a number of inputs and outputs) and not by the amount of money being sent by the user.
If the amount stored in the user's wallet is lower than the transaction fee required to send and make the transaction then the user will not be able to send the funds until the user's wallet has enough of a balance to pay the required fees.
It should be noted that transactions on the Bitcoin Cash (BCH) network are much cheaper than on the Bitcoin (BTC) network, this alone gives Bitcoin.com wallet a huge advantage.
Some Chivo Wallet users have been calling out the government about the high commission fees that are being charged with each transaction. “They are stealing our money,” a user recently wrote on social media. The government of El Salvador had said that there will be no cost to using the Chivo Wallet or commissions on sending or receiving remittances, making or receiving payments or converting bitcoin to dollars or vice versa. This seems to be a false promise, but when do politicians always tell the whole truth?
Sticking to Bitcoin.com Wallet and especially using BCH will save the user a good deal of their crypto!
Score Chivo Wallet 0 chivo cool points Bitcoin.com Wallet 1 chivo cool point
Round 10 Adoption
This is actually very hard to gauge. The chivo wallet is limited in its application as it is intended for citizens of El Salvador. Through the $30 from the government it is being widely adopted. However the limitations have meant that many users download it and use the $30 to purchase things and then stop using it. They use their other wallets instead.
Bitcoin.com Wallet has over 25 million wallets created and the number of wallets and users grows day by day worldwide.
As Chivo Wallet is not available in most countries, it is unfair to say it has not been adopted, so we score this round as a tie.
Score Chivo Wallet 0.5 chivo cool points Bitcoin.com Wallet 0.5 chivo cool points
The Cryptocurrency ten round boxing match RESULT
The judges have scored the match as follows:
Chivo Wallet 2.5 chivo cool points
But the winner with 7.5 chivo cool points is the Bitcoin.com Wallet
Conclusion
"Chivo wallet is better than Bitcoin.com wallet. "
No it is not. MYTH BUSTED!
As we can see the Chivo wallet is not very chivo when it is compared to the Bitcoin.com wallet. The additional features and choice of crypto within the Bitcon.com wallet make this the better and most chivo wallet.
Overall this was a comprehensive victory for the Bitcoin.com Wallet.
This article is an entry into MythBusting 2021 World Challenge and the counterproductive myth is taken from 2021 road map: Busting small blocker myths about Bitcoin and others
simpleledger:qqfstfwn8plxtmva8wzpgezrhytwpj8gj5mz3mzzm7
smartBCH 0x652c950C2D78E1b1fdE434cF594277e78Be8d132
Great! 30 Myth hunter points