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Highly secure Bitxoe Bitcoin transactions coming soon

TL;DR

The upcoming Bitxoe Bitcoin transactions are going to be ultra-secure, as per the company’s latest statement. Bitxoe is a blockchain solutions firm that focuses on Bitcoin-related products. Bitxoe has announced that it is working on a product that will add more security layers to Bitcoin transactions.

As Bitcoin enters the mainstream, the daily transaction volume is soaring. Despite the secure blockchain mechanisms, Bitcoin is still vulnerable to threats of numerous types. Crypto scams and robbed BTC wallets are becoming a daily phenomenon. The lack of safety in Bitcoin transactions prompts many users to switch to privacy-focused coins. Secure Bitxoe Bitcoin transactions are an attempt to change this status quo.

Bitxoe Bitcoin transactions secured by escrow services

As crypto fraudsters increase their attacks, Bitxoe is also looking to up the ante. Bitxoe Bitcoin transactions aim to add more security layers to generic BTC transactions through advanced solutions. The idea is to prevent people’s money from falling into the hands of malicious elements.

https://twitter.com/bitxoe/status/1282173852622053376

First and foremost, Bitxoe wants to address the non-refundable aspect of the crypto transactions. The lengthy crypto addresses consisting of complex combinations of letters, symbols, and numbers further complicate the matter. Users must enter the precise crypto address in order to ensure a safe and secure transaction.

Bitxoe Bitcoin transactions are done with a difference. After one user initiates a transaction, the funds don’t simply land up in the recipient’s account. In Bitxoe Bitcoin transactions, the funds are first sent to a secure escrow account and not sent further to the recipient until the receiver is ready. This prevents any wrong crypto address issues, and BTC is safely stored in the escrow account.

Bitxoe escrow services prevent wrong transfers

Founder of Bitxoe, Devashish Biswas, reports that Bitxoe is currently in the beta testing phase and will be live soon. He says that users have the added safety net of a Bitcoin escrow service. The platform aims to secure both the user’s and the merchant’s interests. Escrow account not only prevents wrong transactions but also brings in an added layer of security in BTC transfers.

With Bitxoe Bitcoin transactions, the BTC reaches only once the product or service has been delivered by the recipient. Moreover, the whole transfer is completely automated and minimizes human interference. Furthermore, the terms of the transaction can also be optimized according to the scenario.

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Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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