How does trading using bitcoins actually work?

KelllyBrown

brand new

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Everything depends on you and your choice. If you are a newcomer, it is better to work with the platform like https://primexbt.com/trade-bitcoin-long-and-short and to get fast profit with its help. As they are really good for the professionals, as well.

Kupid002

sr. member

Activity: 1036

Merit: 329

Quote from: deadlyunknown on November 02, 2012, 01:19:20 AM

Thank you for your explanation, it's very helpful for me about bitmit, but what is escrow?? Huh

you can easily google it and you will find an answer escrow is 3rd party that will hold the funds of buyers and sellers to have a secure trade if the buyers and sellers doesn't trust each other.

For more definition you can read it here https://www.investopedia.com/terms/e/escrow.asp .

Are you planning to trade p2p instead of using exchange ?

Fjordbit

hero member

Activity: 588

Merit: 500

firstbits.com/1kznfw

Escrow just means that a third party holds onto the coins until the goods have arrived and the buyer is satisfied. It prevents "sellers" from scamming coins from people by not sending the expected items.

deadlyunknown

hero member

Activity: 840

Merit: 1000

Quote from: Fjordbit on November 02, 2012, 01:02:46 AM

Quote from: deadlyunknown on November 02, 2012, 12:46:02 AM

Please give me a brief and simple (noobish) explanation on how to do it?

I want to know more with your own experience about trading with bitcoins

Mostly I've ordered stuff on Bitmit. Bitmit escrows the coins, the sellers send stuff in the mail and when I receive it I release the coins.

I've also sold some stuff on here, with and without escrow. With escrow, I used btcrow. Otherwise, I just PMed my address and people sent me coins and I sent them stuff.

Is that enough, or do you have specific questions.

Thank you for your explanation, it's very helpful for me about bitmit, but what is escrow?? Huh

Fjordbit

hero member

Activity: 588

Merit: 500

firstbits.com/1kznfw

Quote from: deadlyunknown on November 02, 2012, 12:46:02 AM

Please give me a brief and simple (noobish) explanation on how to do it?

I want to know more with your own experience about trading with bitcoins

Mostly I've ordered stuff on Bitmit. Bitmit escrows the coins, the sellers send stuff in the mail and when I receive it I release the coins.

I've also sold some stuff on here, with and without escrow. With escrow, I used btcrow. Otherwise, I just PMed my address and people sent me coins and I sent them stuff.

Is that enough, or do you have specific questions.

deadlyunknown

hero member

Activity: 840

Merit: 1000

Please give me a brief and simple (noobish) explanation on how to do it?

I want to know more with your own experience about trading with bitcoins

Topic: How does trading using bitcoins actually work? (Read 937 times)