Topic: Escrow providers, do people ask you to protect against currency swings? (Read 247 times)
November 04, 2015, 05:54:17 PM
When I did escrow there was never a request like this. When starting the transaction the BTC amount is locked in, and that's that. The margins of the providers are very slim (or even just asking for tips), so it would be unfair to expect them to cover any difference.
November 04, 2015, 05:09:58 PM
In short time i was offering escrow service, both my fee and deals were always counted only in bitcoin values, regardless of bitcoin price. I'm guessing that
it's the same with other escrows too, atleast majority of cases. Only deals with long escrow service time i can see having such issues, and most escrows deals
end up being completed within a day or so.
Calculating in fiat value is something i would attribute sooner with the lending deals, where repayment times are greater, as well as the risk of high swings in value.
it's the same with other escrows too, atleast majority of cases. Only deals with long escrow service time i can see having such issues, and most escrows deals
end up being completed within a day or so.
Calculating in fiat value is something i would attribute sooner with the lending deals, where repayment times are greater, as well as the risk of high swings in value.
November 04, 2015, 04:44:41 PM
One of the nice things about having a human third party hold money, is that they can take lots of factors into account when disbursing funds. Not just completion of a job or delivery of a good but also exchange rates and fees required for the Bitcoin network. My question to the escrow providers out there is, do people who hire you ever ask to lock the value of a transaction to that of another commodity or currency versus Bitcoin?
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