According to a study conducted by the US Department of Commerce, almost half of Americans are reluctant to shop online due to concerns over privacy and security.
The study, conducted by the Department of Commerce’s National Telecommunications and Information Administration (NTIA), revealed that 45% of American households polled online reported limiting online activity because of security and privacy concerns.
Fear of identity theft and government hearing unpopular opinions
According to the NTIA’s study, almost half of citizens were concerned about either transacting financially, purchasing, posting on social media, and expressing unpopular political opinions online. Of those, privacy and security concerns caused 30% to refrain from engaging in at least two of those activities.
In regards to refraining from financial transactions online, the prime security concern expressed was identity theft. 35% of those expressing identity theft concerns reported that they did not engage in financial activities online because of those concerns.
Bitcoin can solve online shopping security and privacy fears
Using Bitcoin can alleviate concerns over shopping online securely and privately. Every Bitcoin transaction is publicly and permanently listed on the blockchain, protecting against identity theft concerns. Additionally, because of Bitcoin’s pseudonymous nature, the identity of wallet holders is not revealed, preserving privacy of financial transactions. Finally, to further obfuscate financial activity, coin-mixing services may be used, as well as alternative, more privacy-focuse cryptocurrencies such as Dash and Monero.
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