3D Secure (3DS)

Understand crypto terminology related to 3D Secure (3DS), which enhances online payment security by adding an extra authentication step during transactions.

3D Secure (3DS) is a security protocol designed to prevent fraud in online transactions, including those involving cryptocurrencies. It is commonly used during the payment process to verify the identity of the cardholder before completing a purchase.The process works by requiring additional information from the buyer. After entering their payment details, they may be prompted to enter a one-time password (OTP) or complete other verification steps. This ensures that the transaction is authorized by the rightful owner.For cryptocurrency transactions, the implementation of 3DS adds an extra layer of security, addressing concerns related to unauthorized access and fraud. Although traditional payment methods have widely adopted 3DS, its integration into cryptocurrency payment systems is still evolving. Overall, using 3D Secure helps enhance trust among users by providing more secure transaction options, which can encourage broader acceptance and use of cryptocurrencies.

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