Knowledgebase: FAQ
Can a vendor take funds from my wallet without my consent ?
Posted by Coinify on 10 December 2014 10:08 AM

 

It is not possible for a vendor to withdraw bitcoins unauthorised from you as only you are in control of your own wallet.

 

Unlike credit cards, which can be processed once the vendor has the card details, bitcoins can only be sent using the private key of the wallet holder.

 

Private keys are not public and thus not accessible for a Vendor to misuse at a later stage, once the payment has been accepted from a customer.

 

 

(327 vote(s))
Helpful
Not helpful

Account Help