So we are launching a new public beta for a website called SetEscrow.com, thought we would invite the Bitcointalk community. The last time we had a beta, we ended up with CoinPayments, so if you liked that, I hope you will enjoy this new project.A user powered, reputation based, platform for users to easily and securely create escrow transactions on demand.
3 Easy Steps To UseStep 1The buyer or seller clicks the
Create Escrow Transaction button in the menu and enters the transaction information and options.
Registered users save 0.15% on escrow fees and build their trust score to inspire confidence in future transactions.
Step 2The buyer receives an email inviting them to the escrow. Once they review the escrow settings they send the coins if they agree to the terms of the transaction. At the same time the seller receives an email with a link to monitor the status of the escrow transaction.
Step 3Once funds are received the seller ships the product or performs the service, etc. The buyer then has an inspection period to receive and inspect the product. If they are satisfied they release the funds to the seller or if there is a problem they can raise a dispute instead.
For full details on the dispute process see our detailed
help section.
FAQ:How does this service work?The buyer or seller clicks '
Create Escrow Transaction' and fills out the required entries.
From there, the buyer has X days to send the required funds for the transaction. Once the funds are received, the seller is notified and will ship/send/release the product or service the buyer purchased and the 'inspection period' has begun. (When setting up the transaction, make sure to leave enough time for shipping as well.)
When the buyer receives their product/service they will either click 'Release Funds' if they are happy with the purchase to send the funds to the seller or they can click 'Start Dispute' if there is a problem. If the buyer doesn't click either option the escrow will time out after the configured number of days and release the funds to them automatically.
How are disputes handled?The buyer and seller will both provide testimony and evidence (pictures, tracking numbers, etc.) for their case. A panel of 3 judges will decide the outcome of the case which may be:
- a) refunding the funds to the buyer
- b) releasing the funds to the seller
- c) a 50/50 split
- d) in the rare case a decision can't be reached, the funds will be released to a 501(c)(3) registered charity of our choice and the transaction ID published on this website.
What are the fees?The number of days determines the escrow fee, they are as follows:
1-3 days: 0.40%,
4-9 days: 0.65%,
10-21 days: 0.90%
22-30 days: 1.05%
22-30 days: 1.05%
30+ days: 1.15% + 0.5% per month.
You can save 0.15% if you have an account, and are logged in.
Multiple CoinsWe support a number of crypto coins for escrow transactions, current list is:
Bitcoin, Litecoin, BlackCoin, CloakCoin, CureCoin, Dash, DigitalCoin, Dogecoin, Feathercoin, Hyper, MintCoin, NuBits, Netcoin, Namecoin, Novacoin, PotCoin, Peercoin, StartCOIN, Sexcoin, TitCoin, Unobtanium, Litecoin Testnet (For testing)
https://www.setescrow.com/supported-coinsDo you plan on adding more coins?Not for now, this is still a beta phase. So we'd like to see the use of the system before we add anymore coins.
Where do I sign up?https://www.setescrow.com/register
Good stuff guys! Keep it rolling!