What is Escrow payment ? | Bitcointalksearch.org

Soul Reaper

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Quote from: WorldClassic on March 03, 2017, 02:58:56 AM

I would like to get information about it . What is it ?

Escrow agents are the mediator of transactions between two people or parties etc.
At a very elementary level.
Consider an example -
You run a company and you have to pay to 100 of your employees .
It would be better if you work more for the development of your company,
Rather than preparing 100 cheques or cash or BTC worth that much to be given.
Also there is always a scope of mistake.
So escrow agents are the people hired to do this work.
And a payment given by escrow agent is called escrow payment.

jeraldskie11

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It has a buyer and seller where you need to escrow it to prevent scam because they put payment first into escrow before they continue the business which all of the two are trusting each other. It is usually used in the signature campaign, where they need to escrow the payment or in short they semi-paying you already so that they will not scam you. That's the reason why advertisers not joining that kind of service that doesn't escrow the funds.

iqlimasyadiqa

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Quote from: rafajunior99 on March 04, 2017, 04:16:42 AM

Quote from: WorldClassic on March 03, 2017, 02:58:56 AM

I would like to get information about it . What is it ?

I think escrow is the third person to conduct transactions through it, for example if you buy or sell something, but you do not trust the buyer, or a seller, you can use the services of escrow or arguably a third person, so if you buy or sell currencies in the clutch the third person, namely that all the transactions declared safe by escrow. but keep in mind look for escrow to be really honest and safe, so no disappointment later with you.

I agree with you . we must choose the escrow that has good quality and integrity. because bitcoin we have held entirely by an escrow. never try to pick the wrong. because our lives are at stake by selecting the proper an escrow.

xIIImaL

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Quote from: sotoshihero on March 03, 2017, 07:37:23 PM

Escrow is a third party person whom the seller and buyer agreed to trust for their transaction. He is the bridge or middleman for both parties and assisting or facilitating for their transaction to go smoothly especially financial matters.A trusted person.He may take a percentage of the amount for a fee or some are offering free for their services.

To say simply escorw is the middle man who is responsible for the transaction for the both the parties. Here in the forum we can find many escrow and I personally have Neotax as my trade escrow when I move with the forum people. Trading sites like localbitcoins are using automated escrow which can hold the fund for some marked time in the site, if payment not completely then automatically revert the amount to the seller.

rafajunior99

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Quote from: WorldClassic on March 03, 2017, 02:58:56 AM

I would like to get information about it . What is it ?

I think escrow is the third person to conduct transactions through it, for example if you buy or sell something, but you do not trust the buyer, or a seller, you can use the services of escrow or arguably a third person, so if you buy or sell currencies in the clutch the third person, namely that all the transactions declared safe by escrow. but keep in mind look for escrow to be really honest and safe, so no disappointment later with you.

sotoshihero

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Escrow is a third party person whom the seller and buyer agreed to trust for their transaction. He is the bridge or middleman for both parties and assisting or facilitating for their transaction to go smoothly especially financial matters.A trusted person.He may take a percentage of the amount for a fee or some are offering free for their services.

emezh10

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Quote from: Kevin77 on March 03, 2017, 06:59:34 PM

Escrows are a way to ensure that you don’t get scammed, it is usually made by some trusty people that you and the receiver of the amount agree on him, you give him the bitcoin and when you confirm that you received you object or service or whatever you are getting he releases the money, these people should have a good trust and don’t take that much.

Very well explained sir. He's right the escrow need to have a very clean reputation to be escrow because the escrow is the one who will neutralize the transaction of his client. It must be a very trusted person because he is became the midman of that transaction that will be form. It is the way to the transaction bwcame successful and not be a scam. As you can see our escrow in this forum are very trusted they are famous with their reputation and with that they can make a high profit because of the escrow fee so better to build a reputation now for future you can be a escrow.

Kevin77

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Escrows are a way to ensure that you don’t get scammed, it is usually made by some trusty people that you and the receiver of the amount agree on him, you give him the bitcoin and when you confirm that you received you object or service or whatever you are getting he releases the money, these people should have a good trust and don’t take that much.

calkob

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Quote from: WorldClassic on March 03, 2017, 02:58:56 AM

I would like to get information about it . What is it ?

An escrow is basically a middleman who acts between 2 parties. really good if you need to purchase something or exchange a product. i have used escrow multiple times and it has always worked out.

JeffBrad12

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Quote from: WorldClassic on March 03, 2017, 02:58:56 AM

I would like to get information about it . What is it ?

http://www.investopedia.com/terms/e/escrow.asp

If you know about PayPal and you were seeing some of their functional purposes.

thebatletbet

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escrow is midle person solution to get transaction if two people in transaction same not believe and can safe in transaction
about reputable escrow listed in bitcointalk you can read link in here https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778

PhucS

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You understand that the indenture as a middleman, as a bridge between the two people need to trade with each other in areas such as business, marketing, real estate, .... This person is known as the policy holder, unbiased, holding legal documents and funds on behalf of the buyer and the seller, sharing documents and capital under the guidance of the buyers and sellers the most equitable . He also holds the fund and there are proofs for both sides. It is nearly identical to those you manage the signature campaign in this forum. Buyers and sellers will be safer without worrying about damage or lose their benefits. Those who buy and sell Real Estate usually open a contract for third parties to be protected and convenient.

agustina2

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With lots of informations placed here, Im sure you have now some idea about what escrow is and how it works. Remember that it has different views depends on what will be the thing that will escrowed but it has the same principle about being a third party.

Why it came up from your mind in the first place? Are you currently on a transaction that will involved escrow?

iram3130

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Quote from: WorldClassic on March 03, 2017, 03:51:26 AM

It's like a MiddleMan ?

Yes, a trustworthy person for both the parties of a transaction.
There are some deals in which the 2 parties won't be mutually agreeing on who will send the money first, they can hire an escrow for that. He/she will take from one party and send it to the other.
It's not as easy as it looks. Lots of complications will be there with many of the transactions. And he'll be a decisive person to complete the deal.

Potato Chips

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Quote from: ReLieD on March 03, 2017, 10:53:40 AM

Quote from: WorldClassic on March 03, 2017, 02:58:56 AM

I would like to get information about it . What is it ?

Well you personally don't have to know about that but just for your knowledge it is just related to funds. Like there is a manager kind of a person who is provided with some funds which he has to distribute among all the participants in a campaign. And that's it so if you are a participant of a campaign then the payment you will receive is sent by an escrow if the Campaign has an escrow .

It's not just campaigns but escrows are the middleman in every transactions. In some sites it is required to use but here in the

forum it is only optional but it is proven that people will trust you more if you the escrow service. People need escrows to ensure

that your transaction is safe but it doesn't mean that it will go 100% smoothly, There will be times that escrows run with the

money entrusted to them so better choose wisely.

ReLieD

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Quote from: WorldClassic on March 03, 2017, 02:58:56 AM

I would like to get information about it . What is it ?

Well you personally don't have to know about that but just for your knowledge it is just related to funds. Like there is a manager kind of a person who is provided with some funds which he has to distribute among all the participants in a campaign. And that's it so if you are a participant of a campaign then the payment you will receive is sent by an escrow if the Campaign has an escrow .

icecube45

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Maybe this will help you to understand the "escrow" in the broad sense. Hopefully you can understand it easily Wink

https://en.wikipedia.org/wiki/Escrow

Dudeperfect

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Suppose, 'A' is agreed to sell something to 'B'

Then, both A and B appoints an escrow, suppose 'E' (person trusted by both of them).
B sends his funds to E as security for A
A sends his good or service to B as per agreement

If goods and services are as per agreement then B instructs E to release the payment to A.
If goods and services are not as per agreement then B instructs E to refund the payment.

In case of a dispute, escrow investigate the matter.

WorldClassic

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It's like a MiddleMan ?

TastyChillySauce00

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Quote from: mocacinno on March 03, 2017, 03:05:01 AM

Quote from: WorldClassic on March 03, 2017, 02:58:56 AM

I would like to get information about it . What is it ?

It's basically for a buyer and seller to do business with minimal risks.
It's pretty simple, both buyer and seller (or business partners) agree that they don't fully trust eachother, but they do trust a thirth party.

When they sell an item, the buyer doesn't pay the seller, he pays the independant thirth party.
The thirth party now confirms he has the full payment in his posession to the seller. The seller now sends the goods to the buyer.
Once the buyer confirms he received the goods, the escrow now releases the payment to the seller.

This way, it's impossible for the buyer not to pay for the goods, since the payment has to reach the escrow before the seller even ships the item.
The buyer is also more secure, since if he payed the escrow, and the buyer doesn't send the item, he won't get payed. In case something goes wrong, there is also an independant thirth party to look over any evidence. Since this thirth party is also the person holding the funds, he can actually make a binding decission and either refund the buyer, or release the funds to the seller.

Nice explanation and for additional information if OP is seeking for someone trusted enough just go here: https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778
Using escrow is basically to protect any buyers here from any scamming activities and it's clearly mean that escrow exists for the sake of your safety. Prevention is better than a cure

Topic: What is Escrow payment ? (Read 1149 times)