Are routing numbers and sort codes relevant when it comes to digital currency transactions?

3 answers

• Limited EditionDec 15, 2022 · 3 years ago
  No, routing numbers and sort codes are not required for digital currency transactions. Digital currencies like Bitcoin and Ethereum operate on decentralized networks and do not rely on traditional banking systems. Transactions are verified and recorded on a blockchain, eliminating the need for routing numbers and sort codes.
  326

  163
• OhsungDec 19, 2023 · 2 years ago
  In the world of digital currency, routing numbers and sort codes are irrelevant. Digital currencies are based on cryptographic technology and operate independently of traditional banking systems. Transactions are securely recorded on a decentralized ledger, removing the need for routing numbers and sort codes.
  311

  104
• Faisal Iqbal SajibApr 20, 2024 · a year ago
  When it comes to digital currency transactions, routing numbers and sort codes are not relevant. Digital currencies operate on blockchain technology, which allows for peer-to-peer transactions without the need for intermediaries like banks. Instead, digital wallets and unique wallet addresses are used to send and receive digital currency.
  340

  85