Buying With Bitcoin: How to Get Your Money Back When a Purchase Goes Wrong

NEW YORK (InsideBitcoins) – Bitrated publicly released the latest version of its reputation and arbitration platform on Wednesday, and the service could be useful for consumers who wish to purchase goods or services online from untrusted sellers via bitcoin. Cryptocurrencies do not allow payments to be reversed because there is no third party between the sender and receiver of a payment. The Bitrated platform allows anyone to position themselves as the third party participant through the use of multisignature addresses.
Chargebacks come to bitcoin
If you’ve ever purchased a laptop, book, clothes, or anything else online, then you know that sometimes the purchased good is not everything it was made out to be by the seller. In some situations, you may have never received anything at all after making your purchase online. For this reason, it’s important to have arbiters, such as PayPal or Visa, between the buyer and an untrusted seller.

This post was published at Inside Bitcoins on Feb 19, 2015.