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Definition: Chivo wallet

The state-endorsed Bitcoin wallet for El Salvador that became available on September 7, 2021. Chivo is Salvadoran slang for "cool." The Chivo wallet app maintains both Bitcoin and USD balances, and there are no fees associated with a transaction as Bitcoin has been adopted as legal tender in the country alongside the U.S. dollar. Although Salvadorans can use other wallets, the Chivo wallet gives each citizen a $30 Bitcoin (BTC) credit that they can exchange for dollars or withdraw for cash at a Chivo ATM. See Bitcoin City, Bitcoin and crypto glossary.