What is escrow and why do I need it in Cryptoland?

super5star

full member

Activity: 313

Merit: 100

Quote from: RJX on May 21, 2016, 09:51:20 AM

Not much to add there. Newbs usually find out too late so why not tell them before they get burned?

I'll start with wikipedias definition: https://en.wikipedia.org/wiki/Escrow

Escrow is to safeguard both buyer and the seller

dsattler

legendary

Activity: 924

Merit: 1000

Quote from: bitbaby on May 21, 2016, 10:13:47 PM

You think this hasn't been suggested before? https://bitcointalksearch.org/topic/prevention-is-better-than-a-cure-please-escrow-133931 This has been told and repeated several times but very people pay attention, it is also vital to add to this that if the amount of trade is big then hire more than one for a multisig address escrow, which adds more security, since there has been instances where escrows itself ran with user's funds, master-p for example.

Thanks for sharing this link!

bitbaby

hero member

Activity: 812

Merit: 1000

You think this hasn't been suggested before? https://bitcointalksearch.org/topic/prevention-is-better-than-a-cure-please-escrow-133931 This has been told and repeated several times but very people pay attention, it is also vital to add to this that if the amount of trade is big then hire more than one for a multisig address escrow, which adds more security, since there has been instances where escrows itself ran with user's funds, master-p for example.

dsattler

legendary

Activity: 924

Merit: 1000

Quote from: RJX on May 21, 2016, 09:51:20 AM

Not much to add there. Newbs usually find out too late so why not tell them before they get burned?

I'll start with wikipedias definition: https://en.wikipedia.org/wiki/Escrow

Selling or buying with escrow is easy - on Bitify!
They have a great 30-day buyer protection, check it out! (referral link in my sig)

RJX

legendary

Activity: 1078

Merit: 1003

Not much to add there. Newbs usually find out too late so why not tell them before they get burned?

I'll start with wikipedias definition: https://en.wikipedia.org/wiki/Escrow

Topic: What is escrow and why do I need it in Cryptoland? (Read 498 times)