thanks TD, that was what I was looking for.
And 1.5% seems very reasonable
Topic: How exactly does escrow work in Bitcoin transactions? (Read 900 times)
You know what percentage John K charges? And does he have a thread or site for his services?
PM him. No, I don't think he has a thread. So many people ask him to be an escrow that if he put up a thread, it would be flooded.
You know what percentage John K charges? And does he have a thread or site for his services?
I use John K. He is the most trusting here.. What he does is send both parties an escrow contract and a btc address. Once he has coins then the other person sends what they are supposed to send. Then once its all done, you get your BTC! He does have a small fee.. but think of it as this... Rather pay a small fee then get scammed big time.
Anyone?
So I've started to buy more things with BTC, but I only trade with people on here that I fully trust. Recently, there are some people with positive feedback that I desire to trade with, but I don't trust 100%. I was curious as to how escrow works in the BTC world. I've used it in online auctions, etc, before, where there's usually an escrow site that you send money to, and someone send the product to, and after inspecting both, the company passes on each to the respective destinations. Alternatively, there are those that you send money to, and the seller send the product directly to the buyer and when the buyer receives the item, he has a certain amount of time to dispute, otherwise the money is released to the seller.
Questions: How exactly does escrow work in BTC?
Are there any reputable escrow sites out there?
Who usually pays for escrow (buyer, seller, split?)
How much can I expect to pay?
Thanks!
Questions: How exactly does escrow work in BTC?
Are there any reputable escrow sites out there?
Who usually pays for escrow (buyer, seller, split?)
How much can I expect to pay?
Thanks!
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