How Cryptocurrency Shields Against Chargeback Fraud | Crypto

How Cryptocurrency Shields Against Chargeback Fraud

Cryptocurrency transactions are irreversible and unchangeable once written onto The blockchain.

-The finality of cryptocurrency transactions is core to how blockchain technology overcomes The doubles spend problem.

-The immutability of cryptocurrency transactions means that they are protected from chargebacks.

-The anonymity of cryptocurrency transactions means that even an Exchange with know your customer (KYC) procedures in place cant be sure that a Digital wallet used to purchase crypto wasnt compromised.

-The ease of transacting in cryptocurrency and The lack of chargeback support structures have led to an influx of fraudsters seizing The loopholes in The system.

 

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