29 Apr '13, 8pm

Bitcoin Exchanges Represent Considerable Risk

Bitcoin Exchanges Represent Considerable Risk

Bitcoin exchanges convert the popular digital currency into national currencies based on fluctuating rates. But the exchanges pose potential risk to users, a study finds. A recent paper by researchers at Southern Methodist and Carnegie Mellon universities (PDF) says that 45 percent of the exchanges fail. The paper also says most close their doors without refunding users’ money. Bitcoins have captured the interest of entrepreneurs worldwide. They are popular with businesses operating online and across International borders. Part of this appeal is that they are not regulated by any bank or country. Researcher Tyler Moore, of the Lyle School of Engineering, Southern Methodist University, Dallas, explains his team’s findings in this video. Researchers studied 40 Bitcoin exchanges on the Internet offering to convert Bitcoins into other currencies or back again, according to a s...

Full article: http://smallbiztrends.com/2013/04/bitcoin-exchanges-risk....

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