Topic: Can you hold bitcoin until you receive item(s) ordered? (Read 334 times)
Once you make a transaction through online most of them required a payment first for your purchase order next once the transaction is already confirmed there's a sales invoice will be release as part of your purchase product this will serve as a tracking with the product item, date, and of course your payment, now if you didn't receive anything you must need to make an appeal to them but of course they will seek a proof of payment but if they didn't give at all there's might a big problem in that case they can make an alibi to you. Did you order in a company base?, platform base? or just a person to person transaction?
I guess, cash on delivery with Bitcoin payment method should work in similar fashion like other types of cash on delivery. Let's say if someone orders items from a website that supports Bitcoin as payment method and allow Bitcoin based cash on delivery then it should be done by sending Bitcoin during parcel receiving. There's chance that during payment one may wait for sometime like 10-20 minutes to get confirmations. Such type of delivery system may not be possible when network is congested.
I don't know how is pay on delivery with the use of bitcoin going to be possible except if the person involved in making payment is ready to afford the high priority of making a bitcoin transaction payment, but for some of those that can't have the affordability, they may uses a low fee rate which is going to cost much of time taken before the payment confirmation is made and this may not be best used for pay on delivery except for the transaction fee affordability under high priority
Hi guys, basically I’m new to all this bitcoin and was looking at a purchase from abroad and I’ve been “assured” by the company/person that I pay on delivery with bitcoin, does this sound about right? What happens guys, is it something like,-I pay bitcoin into a holding wallet and when the item is delivered do I click to release or something or is the bitcoin held and released to seller/company once recorded delivery has flagged up delivered or are these people full of bulls**t and the bitcoin goes straight through and I never see item or money/bitcoin again?? Sorry for the silly newbie question I just don’t want to be scammed which you read everywhere, cheers guys,
Thanks Gasher.
If they say pay on delivery then it's a very simple scenario to handle and I'm saying this because, you can actually accept wait to see your product you did ordered for first and upon receiving the product probably through a mailing company then you could transfer the Bitcoin form your wallet to the receivers wallet and go make confirmation on blockchair.com where you can screenshot as evidence to be sure he receiver has received he payment then go ahead to claim your item.Thanks Gasher.
Their should be provision for confirmation from their end id at all they are legitimate but alert make sure in such cases you are seeing your item and ready to make claim before transferring your coin and waiting for confirmation before leaving, this isn't like an exchange p2p where the exchange gat the assets locked until upon confirmation and release.
Guys thanks very much for a bunch of info and help I can’t express how much it means, I’ve been scammed once and had goods delivered once, both bitcoin transactions, I’ve just not really dabbled in it other than them twice, I’m after some half decent tech equipment and it’s a seller on ‘Telegram’ I know that things rife with scams because as soon as you just do a simple search it’s flagged up everywhere from people with bad experience, and on speaking to this guy who said “you pay bitcoin on delivery” delivery is Royal Mail (tracked or so they say) obviously I don’t want to come across a complete dummy (although I am with this it’s alien to me) but if they’re scamming at least I’ll know a little bit more, obviously I’m now going to ask ‘how payment on delivery works’ cheers guys much appreciated seriously.
Regards
Gadget.
Regards
Gadget.
Has anyone read this after the OP's second reply?
OP, has Royal Mail started accepting Bitcoin payments? Their website says that the item must not exceed 2 kg in weight and that payment must be made by either a UK credit or debit card or via PayPal.
What is more suspicious is your contact with the Telegram person. You are right, there are a lot of scammers out there, so this all seems very questionable.
Hi guys, basically I’m new to all this bitcoin and was looking at a purchase from abroad and I’ve been “assured” by the company/person that I pay on delivery with bitcoin, does this sound about right? What happens guys, is it something like,-I pay bitcoin into a holding wallet and when the item is delivered do I click to release or something
Just as "The Cryptovator" said above about how if that a Bitcoin transaction is executed, it is literally irreversible, Hence, I will love to say that if the company you are trying to buy stuff from did sent you an address, and claiming it is a holding wallet, whereby you transfer BTC into it, while they waybil your items, and the moment it's confirmed then just know click on release, then I love to say that it is a potential scam. Because, nobody no genuine business who requested pay on delivery will askedd for Bitcoin to be paid to a certain wallet before package is delivered.
-snip- and on speaking to this guy who said “you pay bitcoin on delivery” delivery is Royal Mail (tracked or so they say) obviously I don’t want to come across a complete dummy (although I am with this it’s alien to me)
Be careful since a scammer can still pull-off various "parcel scams" by saying that as a front.And depending on the contents of the parcel, they may try to trick you that it's confiscated and demand you payment in cryptocurrencies to release it.
Just make sure to track it using their official tracking website and not the link sent by the seller.
I will not allow myself to make even the slightest mistake that could harm myself in the future. You are only convinced by the company or its employees to pay with bitcoin upon delivery, but you also have to be more careful because this is an international transaction. Don't complicate yourself with overseas purchases, try to find the same item available domestically to avoid any risks. You can also activate the Cash on Delivery type to ensure there is no fraud in the transaction, when you have confirmed the delivery, you can make the payment process to the courier. This option is much safer than international shipping, you can also complain more easily if there is damage or the item sent does not match your order.
Hi guys, basically I’m new to all this bitcoin and was looking at a purchase from abroad and I’ve been “assured” by the company/person that I pay on delivery with bitcoin, does this sound about right? What happens guys, is it something like,-I pay bitcoin into a holding wallet and when the item is delivered do I click to release or something or is the bitcoin held and released to seller/company once recorded delivery has flagged up delivered or are these people full of bulls**t and the bitcoin goes straight through and I never see item or money/bitcoin again?? Sorry for the silly newbie question I just don’t want to be scammed which you read everywhere, cheers guys,
Thanks Gasher.
Thanks Gasher.
This is how Purse.io used to work. You would deposit some BTC on their website and when you place an order, it goes into escrow. After your product has been delivered, you could manually release the funds or they would automatically be released after a certain time if there was no dispute. This website no longer exists but there have been a few similar websites. I have not tested any of these alternatives to Purse.io to know if they are legitimate. You will have to look for online reviews to determine if you are dealing with a trustworthy business or if you are getting ripped off.
Your thread is quite confusing to me. Why should you be looking for an escrow or middle platform to hold your payment when the company sends you product cash on delivery? You are messing up everything and confusing us. If the company doesn't want cash on delivery, then you may look for an escrow or third party. However, there is no such way, because when you transfer Bitcoin to someone else and get confirmed into the blockchain, then it's irriversible. It can't be returned to your wallet anyway. Better you use a trusted platform for bitcoin payments or use a cash on delivery system for your safety.
Hi guys, basically I’m new to all this bitcoin and was looking at a purchase from abroad and I’ve been “assured” by the company/person that I pay on delivery with bitcoin, does this sound about right? What happens guys, is it something like,-I pay bitcoin into a holding wallet and when the item is delivered do I click to release or something or is the bitcoin held and released to seller/company once recorded delivery has flagged up delivered or are these people full of bulls**t and the bitcoin goes straight through and I never see item or money/bitcoin again?? Sorry for the silly newbie question I just don’t want to be scammed which you read everywhere, cheers guys,
Thanks Gasher.
Pay on delivery is normal and most people do pay once they confirm the goods, they will pay the money into company’s account.Thanks Gasher.
This case of using Bitcoin as payment method should be normal if the company gives you payment address and then you will pay the Bitcoin to the wallet after confirming the goods, but the delivery person will wait for confirmation before delivering the goods. It is not a scam if you also have knowledge about Bitcoin, you will understand the whole process and the payment will successful and it will help in Bitcoin adoption.
Do you buy goods from well-known companies? I think big companies for example will not accept this kind of system, because what I know when you buy goods then you have to transfer money first or say bitcoin as a means of payment.
I once bought a hardware wallet overseas, and paid first and then got a notification via email that the item had been shipped along with the order number.
But I don't know if you use intermediaries as escrows. Maybe the situation is different.
I once bought a hardware wallet overseas, and paid first and then got a notification via email that the item had been shipped along with the order number.
But I don't know if you use intermediaries as escrows. Maybe the situation is different.
hero member
Activity: 462
Merit: 767
Instant cryptocurrency exchange with own reserves!
Usually, Payment for cash-on-delivery products depends on the delivery company. If it is delivered by the same company that takes your order, you may pay using their payment method. If they accept Bitcoin, you will be able to pay through Bitcoin. But mostly, the companies use third-party courier services to deliver the product, and the delivery man collects the price of the parcel.
In my country, if I order a product from an online shop by Cash on delivery, they usually send the parcel via PaperFly or RedX, a courier company. Now, if these courier companies accept Bitcoin, you can pay for it. Mostly, I pay cash to the delivery guy or use mobile banking to pay them. In your case, if you are going to use Bitcoin, make sure you can check the product before you pay the delivery guy. Keep in mind that bitcoin transactions are irreversible.
In my country, if I order a product from an online shop by Cash on delivery, they usually send the parcel via PaperFly or RedX, a courier company. Now, if these courier companies accept Bitcoin, you can pay for it. Mostly, I pay cash to the delivery guy or use mobile banking to pay them. In your case, if you are going to use Bitcoin, make sure you can check the product before you pay the delivery guy. Keep in mind that bitcoin transactions are irreversible.
Hi guys, basically I’m new to all this bitcoin and was looking at a purchase from abroad and I’ve been “assured” by the company/person that I pay on delivery with bitcoin, does this sound about right? Sorry for the silly newbie question I just don’t want to be scammed which you read everywhere, cheers guys,
Thanks Gasher.
You have answered your question already because since they already inform you that you will pay on delivery so there is no need to panic because is only when you have received your package and verified if everything is completed before you can make any payment, however in terms of paying in Bitcoin there is also nothing wrong with it because it could be there company policy whenever they are transacting with an international clients and besides is even good because that's the fastest way for them to receive there payment, so for me I feel there is nothing like scam on that transaction because the only way it would have look suspicious is if they ask you pay before delivery, so is your decision to make whether you would continue the transaction or not. Thanks Gasher.
why won't they? What's the maximum amount of time it takes before Bitcoin transaction confirms from both end? It takes nothing more than 15 minutes and that's even an exaggerated figure for a Bitcoin transaction to be confirmed if not in most cases, it takes less than that time and any delivery company could afford to wait for such confirmation. The way delivery company works is that, they collaborate with dispatch riders that takes care of the delivery locally. it's part of Thier job requirement to be patient enough till the transaction is confirmed. That's the least thing they do.
This is subjected to many things, first of all the average time for bitcoin transactions is 10 minutes but on most cases is usually less than this time or more than the time and this is also subjected again to the amount of fees paid and the congestion on the bitcoin network. A transaction can take more than even an hour to get one confirmation. More so this companies do not take less than 3 confirmations for the sake of chain re-org so imagine having to wait for that period i know it will be coming with extra cost because the dispatch riders might not be able to wait like the normal Fiat transactions.
Hi guys, basically I’m new to all this bitcoin and was looking at a purchase from abroad and I’ve been “assured” by the company/person that I pay on delivery with bitcoin, does this sound about right? What happens guys, is it something like,-I pay bitcoin into a holding wallet and when the item is delivered do I click to release or something or is the bitcoin held and released to seller/company once recorded delivery has flagged up delivered or are these people full of bulls**t and the bitcoin goes straight through and I never see item or money/bitcoin again??
Firstly there is pay on delivery but not for international shipping items, if the company is in another country they don’t allow you use the offer of paying on delivery, paying on delivery comes with the risk of transportation been wasted, local delivery companies can actually take that risk but the international ones cannot except maybe you pay the delivery fee upfront first before they send it down as some local delivery companies do.
As for the delivery fee using bitcoin, a confirmed Bitcoin transaction fee is irreversible except on rare occasions. So be sure you check well enough of the company you’re dealing with
This is new to me, we're all known to COD(cash on delivery) but this one is BOD(Bitcoin on delivery). Well, that's interesting and it's on your feed back upon delivery. Of course, you have to pay that and click on whichever verification on the platform you are using that the items have been sent to you and when you're done paying them. I guess that the delivery guy will give you a sort of part or copy of the Bitcoin address or a QR code for you to just scan and pay it. The risk is on the seller because you can double-spend the Bitcoin you pay them. And the only risk that you'll have is about the product that you'll receive whether it is fake, or not the actual product you've ordered.
Hi guys, basically I’m new to all this bitcoin and was looking at a purchase from abroad and I’ve been “assured” by the company/person that I pay on delivery with bitcoin, does this sound about right? What happens guys, is it something like,-I pay bitcoin into a holding wallet and when the item is delivered do I click to release or something or is the bitcoin held and released to seller/company once recorded delivery has flagged up delivered or are these people full of bulls**t and the bitcoin goes straight through and I never see item or money/bitcoin again?? Sorry for the silly newbie question I just don’t want to be scammed which you read everywhere, cheers guys,
Thanks Gasher.
Thanks Gasher.
It may happen that after they delivered what you ordered, that is when you will pay them in bitcoin. You don’t have to pay boarder where the bitcoin you sent goes as long as you sent it to the right destination, either a holding wallet or anyone; just make sure you did not send it to the wrong destination (Address); furthermore, you can’t pay till what you ordered arrives in your place,
so why are you worrying? Although I see that you are a newbie and you are scared of being scammed, I think this is a different case. Since you bought something with it, the only thing you need to do is pay them their funds and get what you ordered.
Guys thanks very much for a bunch of info and help I can’t express how much it means, I’ve been scammed once and had goods delivered once, both bitcoin transactions, I’ve just not really dabbled in it other than them twice, I’m after some half decent tech equipment and it’s a seller on ‘Telegram’ I know that things rife with scams because as soon as you just do a simple search it’s flagged up everywhere from people with bad experience, and on speaking to this guy who said “you pay bitcoin on delivery” delivery is Royal Mail (tracked or so they say) obviously I don’t want to come across a complete dummy (although I am with this it’s alien to me) but if they’re scamming at least I’ll know a little bit more, obviously I’m now going to ask ‘how payment on delivery works’ cheers guys much appreciated seriously.
Regards
Gadget.
Regards
Gadget.
Hi guys, basically I’m new to all this bitcoin and was looking at a purchase from abroad and I’ve been “assured” by the company/person that I pay on delivery with bitcoin, does this sound about right?
If you are new to bitcoin and you are yet to understand how it works with regards to sending and receiving bitcoin, then you should not try to use it making a purchase for an item from abroad. You run the risk of encountering a lot of problem with the major one being a loss of your bitcoin without a refund from the company because it is on you. You could however, do like a test run. Are there local businesses that offer payment for their goods or services in bitcoin? Visit there and ask them to walk you through how to do it while maintaining the highest level of security and awareness in the process.
If you have a trusted friend, they could help you out as well, still, don't throw caution in the air because they are your friends. After several experimental trials locally, you can try it with the payment for shipping from abroad once you are sure you have understood it.
What happens guys, is it something like,-I pay bitcoin into a holding wallet and when the item is delivered do I click to release or something or is the bitcoin held and released to seller/company once recorded delivery has flagged up delivered or are these people full of bulls**t and the bitcoin goes straight through and I never see item or money/bitcoin again?? Sorry for the silly newbie question I just don’t want to be scammed which you read everywhere, cheers guys,
Thanks Gasher.
Thanks Gasher.
In general, you need to check who control/own the holding wallet. Scammer may try to deceive you, where the holding wallet is controlled/owned by either scammer or someone who work for the scammer.
Sounds to me that you're going to be using an escrow platform? (middleman). I'm not aware of any companies that would let you pay for the goods until after you receive and check for the items. If you give us the name of the companies, we can probably answer with more certainty.
FWIW, it's somewhat common practice under name cash on delivery or payment on delivery. But there are many limitation of such practice.
Jump to: