Chivo wallet is better than Bitcoin.com wallet

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Avatar for TengoLoTodo
2 years ago

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

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2 years ago

Comments

Great! 30 Myth hunter points

$ 0.00
2 years ago

Thanks 😊

$ 0.00
2 years ago

Good match. However nothing can really beat Bitcoin.com wallet for me ahhhaa. The msot convenient and fastest wallet ever 🤗

$ 0.03
2 years ago

oo I am in agreement with you 100 percent DF 😁

$ 0.00
2 years ago

Very good article, definitely BCH has no rival, success in the challenge. Happy day

$ 0.03
2 years ago

I appreciate that Frank thank you, have a great new week 😁

$ 0.00
2 years ago

A government-backed wallet is never a good option, and this is not a myth in Latam, hehe. The Chivo Wallet is the equivalent of what the Venezuelan government did, but here they created a CBDC called Petro which was a big failure. The government of El Salvador preferred to play it safe and adopt Bitcoin. With the Chivo wallet, the government of El Salvador has control over the remittances and that is more control over the people.

A creative entry and good luck in the contest ;)

By the way, chivo here is how we call a goat. We can call them chivo o cabra. And in many Latam countries, a chivo is a person with power. There is a famous novel by one of the most well known Latin American writers called Vargas Llosa, the novel is called La Fiesta Del Chivo, it's based on real events and is about the dictatorship in the Dominican Republic in the 60's. The goat of course was the dictator.

$ 0.03
2 years ago

I did purposely not give my views on government-backed wallets :) Just tried to stick the facts, and yes it ultimately is control over the people, well even more control!

Petro, I remember that it was supposed to be backed by Venezuelan oil reserves if I remember.

Cabra yes I know that, chivo I learnt a new word. So you could say the chivo wallet is for more control over the people from the people in power. La Fiesta Del Chivo sounds an interesting book as I find dictatorships fascinating around the world.

$ 0.00
2 years ago

Yes, the Petro was supposed to be backed by Venezuelan oil reserves, but that was also a big lie to the people. That was an attempt to get their hands on the remittances that Venezuelans receive from the huge diaspora of the last few years. And La Fiesta del Chivo is my favorite Vargas Llosa novel. If you like to read about history and you are interested in learning about dictatorships in Latin America, you will love it.

$ 0.00
2 years ago

It is sad, the greed and corruption that so many oil rich countries had from their politicians, The African countries I worked in and Venezuela a massive list really. Yes I am looking for the book, I do like that sort of thing.

$ 0.00
2 years ago

Yes, oil wealth in many third-world countries has been a source of corruption and greed. And that in Latin American countries is coupled with a past full of populist governments that are one of the greatest evils of the continent and continues to be so because it seems that we don't learn from our mistakes.

$ 0.00
2 years ago

Yes it really has. What sickens me is that time and time again, the same thing happens over and over again. I really don't get it. Latin America should really be a strong continent but as you say those bloody populist governments just stand on their people by the throats, just sad.

$ 0.00
2 years ago

Very informative for the readers , thank you 🤗

$ 0.03
2 years ago

My pleasure

$ 0.00
2 years ago

🤗

$ 0.00
2 years ago

is this a bitcoin.com wallet rival I don't know either, sounds interesting. but must be reviewed. if the verification uses a phone number. does it support each country's area code?

$ 0.03
2 years ago

It is only available in El Salvador so it is not really a rival to bitocin.com wallet

$ 0.00
2 years ago

Wow! What an eye opening article that has revealed to us what other benefita we can get from other wallets order than the bitcoin wallet. I never knew this before now but i really do appreciate everything you have now made me to know about the chivo wallet and its relative importance as against the bitcoin wallet

$ 0.03
2 years ago

Thanks Sammy, there are of course many wallets out there. I do like the simplicity of bitcoin.com and it was good to learn about Chivo, but unless we are in El Salvador it is of no use to us though.

$ 0.00
2 years ago

Wow this is really informative I didn’t really know Much about Chivo wallet but after this read I think I have an idea i would look into it more .. nice one bro weldone good luck

$ 0.00
2 years ago

I had not really known about chivo, and unless we are not in El Salavador it is of no use to us bro.

$ 0.00
2 years ago

Yeah I just read about it and found out that

$ 0.00
2 years ago

Loved that you featured Joystick.club. 😊 Would have loved to install Chivo wallet for that 30$ airdrop. But I'm guessing it's only exclusive for their locals.

$ 0.03
2 years ago

Yes just for people in El Salvador, but yes the $30 airdrop would be fun to have, and play lots of games on Joystick.club then ;)

$ 0.00
2 years ago

Haha maybe I need to move to El Salvador for a bit. Jk. Yeah that'll be lots of games to play and I can also share that to my friends.

$ 0.00
2 years ago

hehe oo you can share with your friends and play lots of games. The flight would cost more than the $30 though if we moved 🤣🤣🤣

$ 0.00
2 years ago

I just hope Chivo won't have high transaction fees anymore tsk..The government should help the people rise again, not go down the drain.

$ 0.03
2 years ago

Yes it is supposed to be a wallet for the people, but I don't trust governments and they just screw the ordinary person, so yes Glessa they should make transitions free where possible like they promised to do!

$ 0.00
2 years ago

I will do my own research regarding on this new Wallet I knew. Thanks for sharing Uncle Ted.

$ 0.03
2 years ago

You are so welcome, Chivo is only available in El Salavador so most of us cannot use it anyway MJ. Do you use bitcoin,com wallet, I love that for BCH :)

$ 0.00
2 years ago

I see Uncle Ted. Yes I am using bitcoi.com wallet.

$ 0.00
2 years ago

okay good it is a great wallet for us to use MJ!

$ 0.00
2 years ago

I don't use either of them, but from what I read in your post bitcoin.com is the best by far. I have been using Coinomi for years and now trust wallet as well.

$ 0.03
2 years ago

I lost the phone that my Trust wallet is in haha not sure if I had crypto in it or not. Coinomi I have not used, but yes Bitcoin.com is a good wallet and the one I use for BCH Juany, how are you now?

$ 0.00
2 years ago

Hello, yes I am better now. How about you?

$ 0.00
2 years ago

Chivo wallet has variations and it's unique too.

$ 0.03
2 years ago

It is unique with the $30 from the government and it has given people who have no bank accounts access to money so that is good, but it can be so much better!

$ 0.00
2 years ago

Have you tried Chivo cousin?

$ 0.00
2 years ago

neither you wee Glessa nor your cousin @Lucifer01 can try chivo as it is only available in El Salvador

$ 0.00
2 years ago

Not yet dear

$ 0.00
2 years ago