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National Bureau of Economic Research: El Salvador Bitcoin Adoption Experiment Failed

By WebsCryptoApril 26, 20221 Min Read
National Bureau of Economic Research: El Salvador Bitcoin Adoption Experiment Failed
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El Salvador’s Bitcoin adoption experiment has failed, according to new research released by the National Bureau of Economic Research (NBER).

The NBER survey showed that more than 60 percent of respondents abandoned the government’s Chivo wallet after using the $30 bonus. 89% of El Salvadorans have never received a remittance with the help of the app (only 3% of respondents received Bitcoin).

99% of respondents have never paid taxes in Bitcoin. In addition, the survey revealed that most Salvadorans have never used Chivo ATMs installed across the country.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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