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Precautions For Secure Online Payments

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Secure Online Payments

Technology convenience enabled most countries to march towards a cashless economy. Hence customers would have to make payments through plastic money, i.e., through cards. The financial markets are moving toward updating numbers. Everything is automated but still customers concern about the security of their number, i.e., balance in their account. They want full-proof protection where no cracker or hacker can come, and their number gets subtracted. Furthermore, whatever transactions made should be away from prying eyes, it should not be tracked or stored indefinitely.

The customer's requirement fulfilled by an alternative currency Bitcoin, which is entirely decentralized. But the issue is that it cannot replace the country local currency, and furthermore, banned in most countries. Nobody regulates bitcoin and also there is no issuer. Each state has a central bank which governs all banks and protects customers. With bitcoin, if a hacker gets access, you lose money, so the customer needs to protect it by securing private keys. Hence, the customers acquire them offline or on remote location not on web service or online wallet. Big money holders manage several accounts in several exchanges to protect their bitcoin money. Furthermore, Bitcoin has earned a bad name, that it has become a means to hide black money.

The centralized control financial system of countries is much safer than bitcoin. Also, everybody doesn't make transactions using bitcoins, and they use the only bank-issued debit or credit cards or net banking. The financial institution's issues regularly advise so that customers make use of system securely especially doing online shopping.

Advise & Precautions To Secure Online Payments

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