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Meanwhile, virtual currency transactions are irreversible. Once a virtual currency transaction is confirmed and recorded around the blockchain, it could’t be simply reversed or undone, leaving shoppers with minor recourse in fraud, theft, or error scenarios.

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Another problem is security. Virtual funds are saved in digital wallets, which can be vulnerable to cyber-attacks. To forestall theft and fraud, businesses will need to invest in safe storage solutions and carry out strong security steps.

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