Chargeback

« Back to Glossary Index

A chargeback can be defined as the act to return the money to the payer of a certain transaction, specifically one that had been made with the help of a credit card or a debit card. They are primarily the means of consumer protection. The impossibility of the chargeback frauds in the decentralized cryptocurrencies where the transactions are recorded permanently on the blockchain and are irreversible is one of the primary advantages offered to the merchants if they choose to accept payments through cryptocurrencies.

« Back to Glossary Index

Check Also

coinbase-base-launch-layer-2-blockchain

Coinbase Base Launch: A New Milestone In The Crypto Industry

Coinbase, the world’s leading cryptocurrency exchange, has recently launched a new feature called BASE, aimed …

AdBlock Detected

Looks like you are using an ad-blocking browser extension. We request you to whitelist our website on the ad-blocking extension and refresh your browser to view the content.