How Do We Prevent Bitcoin Purchase with a Stolen Credit Card
One of the biggest problems faced by Bitcoin exchanges is that exchange has become fast and easy. If you are here, then that means you are wondering how we prevent Bitcoin purchase with a stolen credit card, right?
Because of identity theft and frauds, various cryptocurrency exchanges have stopped accepting credit card payments.
However, fret not, because we, at Koinal.io, have taken extra precautions in ensuring that your transaction is safe and secure. In case your credit card gets stolen, we are sorry to hear, but don’t worry, our highly competent team will help you overcome this problem.
So, without further ado let’s get started!
Why should you care?
If you are thinking it’s not a big deal and you can just block your credit card, then it is not that simple.
When your credit card information is stolen, you are trapped in the continuous loop of contesting with charges that have been made through your credit card.
Pretty frustrating, right?
But that’s not it. Even if you, somehow, magically get your money back, its implications will haunt you for years.
Not only you, but bank companies are exposed to risk as well where you have opened your bank account.
Credit Card Chargeback
One of the biggest problems faced by a bank is the credit card chargeback. In this, the credit-card paying user, demands his/her transaction be reversed from the issuing bank.
This can happen for various legitimate reasons. For example, your credit card got stolen and the payment has been made without the owner’s consent.
In some cases, however, credit card owner perpetuates their fraud. They do this so that they can reverse an authentic financial transaction.
Due to this credit card fraud, credit card companies have removed the support of using a credit card to buy bitcoin.
But don’t worry, since you have come here, you will rejoice knowing that at Koinal.io, we understand this problem. Therefore, we have devised our protection system to prevent such frauds.
What do we do?
First and foremost, it is Koinal’s pleasure in telling its customers that our payment methods are secured by 256 Go Daddy SSL certificate.
What this means is even if your card is stolen, it cannot be used without verification.
During the account creation process, our security team asks the user to set-up their 2-factor authentication process.
This process allows us to add an extra layer of protection for our users. In case your credit card gets stolen, fret not, because the thief cannot use your credit card until he/she has access to your 2-factor authentication.
Koinal’s Support Team
At Koinal.io, we take pride in our highly competent support team. If your credit card is stolen, please ASAP get in touch with [email protected] through email address.
In addition to credit card payment, Koinal.io will also offering payment through bank transfer soon.
So, don’t let small things demotivate you and head straight to our website to learn more!
Keeping your Bitcoin Protected
Although we have got you covered in your bad times, we highly recommend the following few tips to increase your overall account security.
VPN for Transaction
Even if your credit card is with you, a cyber-thief can steal your credit card information through various means.
Therefore, we recommend using a VPN when you are using credit cards to buy Bitcoins.
Bitcoin Private Keys
Private Key is an address that your digital wallet generates. This allows you to perform a transaction or use your Bitcoin to trade.
If you use your private keys for your digital currency, make sure that it is backed up offline.
Report Stolen Cards
At Koinal.io, we encourage our customers to instantly report their stolen credit cards. The sooner you act, the sooner your credit card company will prevent any fraudulent charges against your credit card.
The Final Verdict
Now that you know how we prevent Bitcoin purchasing with a stolen credit card, you can rest assured and trust our services.
We have dedicated our time and resources in ensuring that your transactions are verified and safe. In case of any problem, our team is available 24/7.
So, what are you waiting for? Koinal.io is the best cryptocurrency exchange platform that is secure, fast, and reliable.
Head straight to our website and benefit from your services!