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Author Topic: How can some fraudulent people be discouraged from using cryptocurrency ?  (Read 331 times)
xvids
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April 02, 2019, 09:08:20 PM
 #41

Before I joined crypto space, I used to watch some series where cryptocurrency is used as a payment for business there.
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?




They could only know you if you submit your personal info in exchange platform .
They could track your transactions with the address link to your account.
So I think it would be impossible to track your real address unless you would go through KYC.

dabenko
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April 04, 2019, 08:31:31 PM
 #42

One of the reasons it is hard to track sac!mere of fraudsters in the crypto space and that have one thing or the other tondo with cryptocurrency, is because of its anonymity. Even at that, those of them who use exchange sites or some forms of wallets,such as blockchain, can be tracked through their kyc.
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