Just placed a BUY order to see how it works.
There is nothing on the site telling me how to get the payment to you.
Also, it doesn't look like there is a multi-sig escrow. From what I can tell, this is just regular trusted third party escrow (like what localbitcoins provides).
Payments are done "peer to peer" from user's bank account to users bank account. Bank accounts are verified.
During storage the coins are in 2 out of 2 multi-signature wallet where your part of the key is stored only in encrypted form on the server. This way admins or hackers can under no circumstances access bitcoins, since the second private key is encrypted with the user password which is not known to anybody, except for the user.
In case coins are traded they are pre-signed by the seller into a ntimelock transaction with 2 weeks trigger. When buyer and seller agree, multi-signature coins will be released and bitalo as escrow can not at any point access the coins. Only when the time expires, Bitalo takes temporaily control to solve the dispute. In that sense it is "trusted".
