Be safe: READ THIS BEFORE TRADING/BUYING/USING YOUR MONEY - page 5.

xianglo

jr. member

Activity: 60

Merit: 6

what is escrow, explain it pls for a newbie

Escrow is a neutral 3rd party account to hold crypto during a transaction until both parties are satisfied.

Say you buy a doughnut from someone. You send the crypto to the escrow public key where it is held on the blockchain. Then you get the doughnut, and by some way notify the escrow service that you have a fresh delicious doughnut.

The service will then send the crypto to the sellers public key.

xianglo

jr. member

Activity: 60

Merit: 6

Quote from: Tomatocage on May 08, 2013, 09:36:28 AM

Alright, so I've been PM'd by a few people what red-flags to look out for since I have a pretty good track record of spotting scammers. Sometimes I get it wrong, but better safe than sorry. Here's a couple rules to follow to avoid becoming a victim:

1. Newbies, NEVER DO BUSINESS WITH OTHER NEWBIES, EVER. There are plenty of veteran members to do business with and ALWAYS use escrow. If you're a newbie and you're doing business with another newbie, there's nearly a 100% chance that one of the parties is a scammer. I can not stress this enough.. just work with people who have been here at least a year.
2. Always use escrow.
3. See rule #2.

Rules to live by on this forum

Portal_Network

newbie

Activity: 52

Merit: 0

Information is really good, thank you for sharing! Cheesy

mcrey11

newbie

Activity: 57

Merit: 0

Quote from: Tomatocage on May 08, 2013, 09:36:28 AM

Alright, so I've been PM'd by a few people what red-flags to look out for since I have a pretty good track record of spotting scammers. Sometimes I get it wrong, but better safe than sorry. Here's a couple rules to follow to avoid becoming a victim:

1. Newbies, NEVER DO BUSINESS WITH OTHER NEWBIES, EVER. There are plenty of veteran members to do business with and ALWAYS use escrow. If you're a newbie and you're doing business with another newbie, there's nearly a 100% chance that one of the parties is a scammer. I can not stress this enough.. just work with people who have been here at least a year.
2. Always use escrow.
3. See rule #2.

Got your idea man, Thank you for this.

A.SanchezNo7

newbie

Activity: 252

Merit: 0

Thank you.

letyouearn

legendary

Activity: 1722

Merit: 1014

Thank you very much for this reminder! Suitable for both beginners and professionals! I have been working with cryptocurrencies for a long time and 0.3 btc was stolen from me a month ago. I did everything as usual and noticed one small thing that don't pay attention because I've already done it 100 times and then caught me.

hawaii236

newbie

Activity: 122

Merit: 0

Thank you for the information

mayukus4life

jr. member

Activity: 277

Merit: 1

A very nice piece of information, just coming across it now and it's good our awareness especially newbies have been drawn to this because so many persons are fraudulent in nature no matter their level of membership in here. I will always work with this information at the back of my mind.

jrg_214

newbie

Activity: 10

Merit: 0

Thank you for this wonderful advice. We should not make a transaction to a person we don't know. Remember to be safe always. Earning is not important, but learning in this forum has a good benefits in all of us. Lets study and learn to improve of what we are doing here and contribute to the benifits of this forum.

Thank you for giving a good ideas and giving us more knowledge about scammer.

abhishek.11

newbie

Activity: 1

Merit: 0

thankyou very useful

McmJuan

newbie

Activity: 1

Merit: 0

TRX is good cripto to buy? Good day

jamesbond007pro

newbie

Activity: 238

Merit: 0

Quote from: Tomatocage on May 08, 2013, 09:36:28 AM

Alright, so I've been PM'd by a few people what red-flags to look out for since I have a pretty good track record of spotting scammers. Sometimes I get it wrong, but better safe than sorry. Here's a couple rules to follow to avoid becoming a victim:

1. Newbies, NEVER DO BUSINESS WITH OTHER NEWBIES, EVER. There are plenty of veteran members to do business with and ALWAYS use escrow. If you're a newbie and you're doing business with another newbie, there's nearly a 100% chance that one of the parties is a scammer. I can not stress this enough.. just work with people who have been here at least a year.
2. Always use escrow.
3. See rule #2.

Dear admin, I know why you are famous. I think you have a big knowledge about business, your experiences will help many newbies. I will learn and try to do follow your rule, this is very informative information for me. Many thanks

A.SanchezNo7

newbie

Activity: 252

Merit: 0

Good share

Danu26

member

Activity: 273

Merit: 10

Quote from: Tomatocage on May 08, 2013, 09:36:28 AM

Alright, so I've been PM'd by a few people what red-flags to look out for since I have a pretty good track record of spotting scammers. Sometimes I get it wrong, but better safe than sorry. Here's a couple rules to follow to avoid becoming a victim:

1. Newbies, NEVER DO BUSINESS WITH OTHER NEWBIES, EVER. There are plenty of veteran members to do business with and ALWAYS use escrow. If you're a newbie and you're doing business with another newbie, there's nearly a 100% chance that one of the parties is a scammer. I can not stress this enough.. just work with people who have been here at least a year.
2. Always use escrow.
3. See rule #2.

this is good information with this newbie will not get a scam project when they invest in crypto world. if more and more positive news like this then nothing else will be deceived.

vuanhquan

newbie

Activity: 39

Merit: 0

Information is really good, everyone should read through, thank you for sharing.

sharaban

newbie

Activity: 84

Merit: 0

Useful information, thank you! but how do you look at using, for example, ISO clubs and trust management in general? on what criteria should you pay attention to newbies if they seek a partner outside of this forum?

yamakashy

newbie

Activity: 14

Merit: 0

I hate those scammers, they are all over the web...Nut they gain alot of bad karma...I hope they will buy candles with our money!

Seram1

newbie

Activity: 197

Merit: 0

Quote from: Tomatocage on May 08, 2013, 09:36:28 AM

Alright, so I've been PM'd by a few people what red-flags to look out for since I have a pretty good track record of spotting scammers. Sometimes I get it wrong, but better safe than sorry. Here's a couple rules to follow to avoid becoming a victim:

1. Newbies, NEVER DO BUSINESS WITH OTHER NEWBIES, EVER. There are plenty of veteran members to do business with and ALWAYS use escrow. If you're a newbie and you're doing business with another newbie, there's nearly a 100% chance that one of the parties is a scammer. I can not stress this enough.. just work with people who have been here at least a year.
2. Always use escrow.
3. See rule #2.

thanks dev for the information and advice. this is very good information for new beginners who join the crypto world. with more and more good and useful information like this there is nothing else to be deceived.

chicipuci

newbie

Activity: 238

Merit: 0

Never deal with friends or beginners. With friends, you need to be friends, and work and business will separate them from you.

kingenri

newbie

Activity: 50

Merit: 0

THANKS FOR THE INFORMATION .JUST FOLLOW THE RULE THREE BEFORE FOLLOWING ANOTHER RULES Grin

Topic: Be safe: READ THIS BEFORE TRADING/BUYING/USING YOUR MONEY - page 5. (Read 366112 times)