Topic: What is escrow? (Read 1870 times)
He/she is the one who organizes the transactions between the buyer and seller.
a person who perform the role of third party between to traders. if a person wants to buy some thing online from someone. he afraid to that after receiving the money the person may not send the the item . so escrow play an important role between them he receive the item from seller and the ammount from buyer, then he exchange the itms and the money. he receive a little percentage from both the parties.
I think you should ask from an escrow expert. I personally know a person who is escrow. I usually do trading or exchanging through him. Is name is jhonathan
Escrow on every transactions online or not serves as the middleman of the transactions of two person.Escrow is where the money goes first and the product goes first.All people are using escrows to ensure all transactions specially on online transactions specially on money.Escrow is a trusted person or an admin of an site or page that you knowm
Escrow is Middleman,, A thirdpart, you give them both your payments, you.and your. buyer, and the midman will swap your trade. Some midman req to pay thrm, 1-2% is the fee, Others give it free, but they accept donations
Question on escrow. Let say i want to trade my bitcoin for someone elses online boa funds. First off, i read boa online funds are reversible if its due to fraud.
So if thats the case, let say someone sends boa to escrow... then once that happens... i send bitcoin to that person who sent boa to escrow. Then i receive boa from the escrow. However... what if the boa transfer is due to fraud? So basically escrow is useless then right? Is there a point when the escrow is at risk?
Im not wondering what funds are the escrow even receiving before they send those funds to the bitcoin seller since pretty much almost everything is reversible.
So if thats the case, let say someone sends boa to escrow... then once that happens... i send bitcoin to that person who sent boa to escrow. Then i receive boa from the escrow. However... what if the boa transfer is due to fraud? So basically escrow is useless then right? Is there a point when the escrow is at risk?
Im not wondering what funds are the escrow even receiving before they send those funds to the bitcoin seller since pretty much almost everything is reversible.
It might be different for every escrow but most only hold the bitcoins. So the buyer sends his bitcoins to the escrow, the seller sends the boa to the buyer. Then the buyer says all is ok and the escrow releases the bitcoins to the seller.
Reversable payments can only be protected as long as the escrow did not release the bitcoins. After that it is the risk of the buyer.
Question on escrow. Let say i want to trade my bitcoin for someone elses online boa funds. First off, i read boa online funds are reversible if its due to fraud.
So if thats the case, let say someone sends boa to escrow... then once that happens... i send bitcoin to that person who sent boa to escrow. Then i receive boa from the escrow. However... what if the boa transfer is due to fraud? So basically escrow is useless then right? Is there a point when the escrow is at risk?
Im not wondering what funds are the escrow even receiving before they send those funds to the bitcoin seller since pretty much almost everything is reversible.
So if thats the case, let say someone sends boa to escrow... then once that happens... i send bitcoin to that person who sent boa to escrow. Then i receive boa from the escrow. However... what if the boa transfer is due to fraud? So basically escrow is useless then right? Is there a point when the escrow is at risk?
Im not wondering what funds are the escrow even receiving before they send those funds to the bitcoin seller since pretty much almost everything is reversible.
No escrow here is stupid enough to hold a reversible payment. The one buying BTC would send the BOA transfer directly to you and you would tell escrow to release BTC. So yeah, escrow DOESN'T protect you from chargebacks but neither does sending first, which is a lame yet common excuse most scammers use here.
Op, I want to add that even with escrow there is no 100% guarantee than your deal will be successful. After all escrow is another human factor added to a transaction and it could be faulty,
There were cases when escrows went rogue and steal all the money. That is very rare occurrence but certainly not unheard of.
Ya somewhere on the forum , someone openly published about 19 escrows who cheated for money. I trusted escrow till then and thought it could never go wrong since they are trusted and all . But there does exist some people who does cheat others . There were cases when escrows went rogue and steal all the money. That is very rare occurrence but certainly not unheard of.
Op, I want to add that even with escrow there is no 100% guarantee than your deal will be successful. After all escrow is another human factor added to a transaction and it could be faulty,
There were cases when escrows went rogue and steal all the money. That is very rare occurrence but certainly not unheard of.
There were cases when escrows went rogue and steal all the money. That is very rare occurrence but certainly not unheard of.
Question on escrow. Let say i want to trade my bitcoin for someone elses online boa funds. First off, i read boa online funds are reversible if its due to fraud.
So if thats the case, let say someone sends boa to escrow... then once that happens... i send bitcoin to that person who sent boa to escrow. Then i receive boa from the escrow. However... what if the boa transfer is due to fraud? So basically escrow is useless then right? Is there a point when the escrow is at risk?
Im not wondering what funds are the escrow even receiving before they send those funds to the bitcoin seller since pretty much almost everything is reversible.
So if thats the case, let say someone sends boa to escrow... then once that happens... i send bitcoin to that person who sent boa to escrow. Then i receive boa from the escrow. However... what if the boa transfer is due to fraud? So basically escrow is useless then right? Is there a point when the escrow is at risk?
Im not wondering what funds are the escrow even receiving before they send those funds to the bitcoin seller since pretty much almost everything is reversible.
Ah now I know. I'm learning something new here everyday. Is there a standard fee that escrows charge? Or is it up to all the parties involved to decide how much goes to the escrow?
it's depends on escrow or each person,for your information there is no standard fee here, so they have their cost and their own regulate, like sebastianju only escrow accounts worth at least $50.Anyway my last transaction using escrow with zero fees, you can find one of them on service section
Free escrows take tips, it's not needed but it's encouraging for the escrow because he feels his work... and it's often a good bunch of time for an escrow, is valued by the traders.
In fact I like getting tips more than fixed fees... it feels better when you get it out of free will. Some escrows that don't have yet their reputation do free escrows to get reputation and trust too.
By the way... escrows can manipulate the amount of escrow trades with fees too. I think about that possibility in order to limit or direct the amount of escrows I do too. Maybe I will do it one day.
escrow is a person who provides a third party service to send and receive funds bitcoin. typically used for transactions between buyers and sellers are still not too confident with the integrity of the seller.
Basically a middleman. You use an escrow to make sure that the deal will pursue. Has to be someone with high integrity and renowned profile.
escrow is a person who provides a third party service to send and receive funds bitcoin. typically used for transactions between buyers and sellers are still not too confident with the integrity of the seller.
Ah now I know. I'm learning something new here everyday. Is there a standard fee that escrows charge? Or is it up to all the parties involved to decide how much goes to the escrow?
it's depends on escrow or each person,for your information there is no standard fee here, so they have their cost and their own regulate, like sebastianju only escrow accounts worth at least $50.Anyway my last transaction using escrow with zero fees, you can find one of them on service section
Ah now I know. I'm learning something new here everyday. Is there a standard fee that escrows charge? Or is it up to all the parties involved to decide how much goes to the escrow?
It is a trusted person on the forum that holds the bitcoins paid by the buyer so that the seller can be sure that he can receive the bitcoins once he gave a working account.
Before you ask me, I only escrow accounts worth at least $50.
good answer from trusted escrow,but i dont mind why some escrow dont put escrow identity to their account,its hard for me to find trusted escrow like you,but you the great one to show your id. Before you ask me, I only escrow accounts worth at least $50.
An escrow is:
a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties, or
an account established by a broker for holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction;[1] or,
a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums.
/ source https://en.wikipedia.org/wiki/Escrow
a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties, or
an account established by a broker for holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction;[1] or,
a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums.
/ source https://en.wikipedia.org/wiki/Escrow
An escrow is actually a mediator who is a trustworthy person having done most trades here for least fee, and you can use them in order to take everything into possession of both the seller's and buyer's side and should release everything after possession is taken to complete the trade...
Basically, you choose a trusted escrow provider and give your account to them. The escrow checks the account, and then the buyer pays. It tends to be a safe process.
Escrows are users who acts as a intermediary for very minimal fee. His service gives the buyer and seller the assurance for their valuable bitcoin and real cash.
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