No merchant enjoys dealing with chargebacks. They drain revenue, put a merchant’s account at risk, and require time and effort to properly respond to. Many e-commerce merchants are quick to welcome any new tool or strategy that can help prevent chargebacks, but there’s one in particular that most merchants have been reluctant to adopt: cryptocurrency.
Transactions using cryptocurrencies like bitcoin aren’t subject to chargebacks. In cryptocurrency transfers, the funds are placed in escrow until the transaction is confirmed by both parties. Once the transaction is complete, there is no way to reverse it.