Sunday, March 20, 2016

End chargeback fraud and identity theft

If you are already using Bitcoin, this is the end chargeback fraud and identity theft.

In the world there are several times more people using the Internet than with a bank account. Thus, accepting Bitcoin payments, vendor expands its potential customer base by several billion people who previously were not available to him.

What is Bitcoin advantages over credit cards?

As a buyer;

You do not need the seller to provide access to the rest of the money in the account, so even fraudulent or negligent vendor case, the other in the buyer's account money is safe. 

As Bitcoin system, there is no control of the center, no one can prohibit or block transfer, one can not "freeze" or lock the account. This gives a huge advantage over PayPal and credit cards (eg. PayPal blocking the transfer of 60 countries, and has the right to "suspicion" in its sole discretion to block the account of 180 days).

More about - What is Bitcoin?

Bitcoin transfers are much cheaper (practically free).

You do not need to register anywhere or ask someone's permission. We're to have an 
Internet connection.

There is no need to have a bank account.

As a seller;

As Bitcoin transfers be approved more quickly, the seller can be sure that his
to get the money is suddenly not disappear after a couple of weeks of receiving them. There is no chargeback fraud risk.

Since there is no chargeback risk, the seller does not need to check the identity of the buyer, and wins and the seller, because saves money, labor and time, which would be appointed by the buyer's identity checks, and the buyer, since not risk that his personal data will be stolen. There is no identity theft risk.

Accept payments Bitcoin does not cost anything and it can be done in 5 minutes, no need to register anywhere, to ask someone's permission, so no and no registration, monthly or other fees.

For comparison - Visa / Mastercard / PayPal / etc charge 3% - 5% of the transfer amount, not including registration, monthly, and other charges.

You can make use of financial intermediaries, and get your desired currency transactions, for example in euro.
Such intermediaries currently charge no more than 1% of the amount (eg. Xapo not charge any fees), and any other fees are not.

The difference is that the seller is not bound to a particular agent, and can always change it.
This can not be done with PayPal / Visa / Mastercard / etc - refused intermediary services, lost and all through the intermediary reporting to clients.

Intermediary use is not mandatory, it is only required in order to convert the buyer of BTC paid to the seller's preferred currency.

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