Escrow Guide - page 3. | Bitcointalksearch.org

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: adamantasaurus on August 06, 2017, 04:05:48 PM

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

I haven't seen any universal guide here in the forum. I might be wrong though.

But basically here's how it goes.

1. A Buyer and a seller agrees to terms. i.e. seller wants to buy a domain from buyer
2. Buyer then put the money to an escrow
3. Seller then transfer all information to the Buyer
4. Buyer checks everything and approves
5. Buyer notify the Escrow that everything is perfect. Instruct the escrow to pay the Seller
6. Escrow now pay the Seller

So escrow in essence is like a middleman. A broker between two parties. But there is a fee if you will hire a escrow, they only charged a certain percentage of the total escrow amount. But its better to get one than scam by the other party.

You can check this thread for more info:
https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778
https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897

Goodluck!!!

illusioNiZt

sr. member

Activity: 770

Merit: 252

This might be something you are looking for https://bitcointalksearch.org/topic/escrowing-on-demand-1938190 you can use the thread to contact any of them they are pretty trusted/active members of the forum stay safe.

CIF

full member

Activity: 280

Merit: 100

Business on the Blockchain

Quote from: TheCoinFinder on August 08, 2017, 12:54:36 PM

Now if you have understood how to deal with someone on internet from above article referance ink, you might be thinking of trusted escrow members around this forum?
Bitcointalk has has a few reputed escrows you can choose one for your deals here https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778

Could someone comment/point towards trusted escrows on this forum?

TheCoinFinder

legendary

Activity: 938

Merit: 1001

Now if you have understood how to deal with someone on internet from above article referance ink, you might be thinking of trusted escrow members around this forum?
Bitcointalk has has a few reputed escrows you can choose one for your deals here https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778

Opsondell

jr. member

Activity: 56

Merit: 10

I do not buy the I deal of this escrow, because if the service has been released and it works well then and later tell escrow that it doesn't work out that they shouldn't released the money. Man you get screw from there, with my own opinion escrow do scam too and not 100% sure.

shadow_hammer

newbie

Activity: 52

Merit: 0

Quote from: isoneguy on August 06, 2017, 05:42:09 PM

I would be very careful with forum escrow as multiple of them have ripped off users.

I've never escrowed before, but I've heard about Multisignature wallets. Don't they prevent Escrows ripping users off? Are they not used a lot?

For OP or anyone that doesn't know what that is here is an article:
https://en.bitcoin.it/wiki/Multisignature
TLDR: Basically you create a wallet that requires more than one key (similar to a password) to move funds. Theoretically you could have a key, the seller/recipient have a key and the escrow have a key and require at least two keys to move the funds. That way the money is held until either the user or escrow confirms the transaction is ok, conversely the Escrow could give the key to the seller/recipient in case the buyer/sender is the one ripping off.

At least that is my takeaway, if anyone with more experience could weigh in I would greatly appreciate it and I think OP would too

isoneguy

hero member

Activity: 518

Merit: 501

I would be very careful with forum escrow as multiple of them have ripped off users.

player514

legendary

Activity: 1414

Merit: 1039

Quote from: adamantasaurus on August 06, 2017, 04:05:48 PM

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

I'm not too sure about a guide, but escrow is a pretty simple and effective concept. Basically, you bring another trusted member into your 2 man deal. Say you're trading an Amazon gift card for Bitcoin and dont want to be scammed. You send the Bitcoin to the escrow and the other person will directly send you the Amazon card. When you confirm that the card is working and test it out, you can tell the escrow to release the funds to the other guy.

There are services in this section. Just use the search function to find an escrow. I offer services too, so let me know if you'd like me to escrow for you.

adamantasaurus

sr. member

Activity: 728

Merit: 255

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

Topic: Escrow Guide - page 3. (Read 2546 times)