What are the risks involved in settling transactions for cash in the cryptocurrency industry?

1 answers

• Feb 17, 2022 · 3 years ago
  Settling transactions for cash in the cryptocurrency industry can be risky. Cash transactions lack the transparency and security provided by digital payment systems. There is a higher chance of fraud and scams when using cash, as it is difficult to verify the authenticity of the transaction and the identity of the parties involved. Moreover, carrying large amounts of cash can make individuals targets for theft or robbery. Cash transactions also lack the traceability and accountability of digital transactions, making it challenging to resolve any disputes that may arise. It's important for users to consider these risks and explore alternative payment methods that offer more security and protection for their investments.
  728364