Bitcoin Forum

Im new to this whole bitcoin movement. I already learned my first lesson, which is nobody likes using paypal for btc lol. But can someone explain to me what is escrow? I tried googling it and found nothing so I figured id ask you guys :)

Thanks,

-Dante

Read the wikipedia explanation :


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

Paypal is just a gamble with virtual currency.   No one will trust someone new with it, and most wont use it at all for coins.

Look into things such as coinbase if you have a checking account you can tie it to.  Or look at loclabitcoins for other options.

Basically, it goes like this:

1. The buyer gives the money to a person (the escrow) that both the buyer and the seller trust.
2. The seller sends the buyer the items.
3. The buyer authorizes the escrow to release the money to the seller.

Escrow usually includes arbitration. If the seller doesn't uphold his end, the buyer asks for the money back from the escrow. If the buyer doesn't authorize the release the money, the seller asks the escrow to release it anyway.

list of escrow
https://bitcointalk.org/index.php?topic=108716.0

That list is not updated ;) , a lot of the users in that list is no more active in the forum.

Nice, I wanted to know what is exactly an escrow, now I know !! Thanks for the link wikipedia  :D

Hi, which escrow do you recommend me please ?

only escrow with people positive rep..

good advice, most other ones will try to scam.

Positive rep can be obtained after a single trade.  ;D

There are a lot of established escrows, who have done a large number of escrow transactions. Look amongst them. Also make sure that your transaction size is comparable to other transactions they have escrowed in the past.

Its an arrangement in which a third party receives and disburses money or documents for the primary transacting parties.

I recommend this escrows based on their trust and easily accessible and online most of the time.

redsn0w
maidak
dabs
monbux
devthedev
escrow.ms

https://bitcointalk.org/index.php?topic=108716.0
+ Redsnow
or devthedev
I would use them as they are really quick to reply!

and what will happen if escrow take buyer or seller money ?
You know ,sometimes people can change drastically

yet this forum make that account super anonymous

And when you try to find that account,
you need a time to track down account's true identity
or he/she will escape completely

An escrow is like a service that allows safer payment by securely holding a buyer's coins in escrow until the terms of the sale are met and as a result the buyer releases payment to the seller.

Escrow generally refers to money held by a third-party on behalf of transacting parties. It could be a good positive feedback/trusted person or a site like localbitcoins
Lis of escrows
https://bitcointalk.org/index.php?topic=108716.0