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Title: Escrow Post by: CallMeBaiter on October 15, 2017, 02:12:39 PM Hello guys,
I know there are a lot of scammers around and sometimes you would have to trade btc for the coin you want, but exchanges currently don't list them. I have been reading around on avoiding scams. Some posts mention to use an escrow to trade. Could someone go into more details on how escrow work and how would I trade using escrow? Thanks in advance guys! Title: Re: Escrow Post by: Bitfort on October 15, 2017, 02:24:32 PM escrow = 3rd person (should be trusted "stranger" ... not related to both buyer or seller)
1 - Buyer sends the funds to escrow. 2 - Escrow notifies the seller about receiving the funds and tell him to dispatch the goods 3 - Seller sends the goods 4 - Once the goods arrive (and buyer is satisfied) he notifies the escrow that he can release the funds to seller. 5 - Escrow sends the funds to seller and trade is finished Title: Re: Escrow Post by: GMule on October 15, 2017, 02:43:02 PM The other things that you can do is break your transactions into smaller amount, and wait for confirmation before risking the next slice. It just limiting your risk, instead of relying on a 3rd party.
Good luck whatever way you choose to go. |