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Crypto works like cash. If you lose cash, there is no one to dispute charges and issue chargeback. BTW I never had success trying to chargeback VISA for servic
by EVa5I7bHFq9mnYK 5y ago
Crypto works like cash. If you lose cash, there is no one to dispute charges and issue chargeback.
BTW I never had success trying to chargeback VISA for services that were not delivered. Scammers do it without problem though.
- tirpen 5y agoCash transactions are done locally when you can typically inspect the object of the transaction before paying. That's why there is not the same need for these kinds of protection. Crypto combines the worst properties of cash and wire payment into a package that has no customer protection and is almost tailor made for scammers.
- EVa5I7bHFq9mnYK 5y agoThere are customer protections in the form of 1) escrow 2) seller reputation 3) seller depositing some risk capital at a selling platform. That said, customer protections have never really worked for me in fiat world.