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Is It Possible to Withdraw Funds from a Bitcoin Wallet Without the Owner’s Consent?

It is not possible for anyone to withdraw Bitcoins without authorization from your customers, as they are the only ones in control of their own wallets.


Unlike credit cards which can be processed once you have the card details, Bitcoins can only be sent using the private key of the wallet holder.

 

Private keys are not public and thus not accessible for you to misuse at a later stage after accepting a payment from a customer.


Hence, it is unrealistic that anyone would accuse you of taking funds from them.


! Please Note: It is essential that you remember to always follow the security procedures required by your Bitcoin Wallet provider, as not doing so might result in compromising your wallet security and your funds being stolen. Please be very cautious, especially if you are storing higher amounts. In such cases, we would recommend having a device (smartphone or computer) specifically used to install a Bitcoin Wallet, and keeping it offline at all times.

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Published Date = 13/02/2018
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