Bitcoin Forum

I want advice how one can trade safely with someone so both parties will fulfill their part? Examples of trades are

If person A wanted to buy person B's member account for 0.05BTC
If person A wanted to trade 1BTC for an equivalent amount in litecoin from person B

if person A sent his BTC payment to person B in either scenario how can we prevent B from not fulfilling its part. Ideally their should be a way for both involved in the agreements to do their parts at the same time.

Usually such trade is made using a middleman, escrow. The escrow has to be trusted by both parties.  Trades of currencies can also take place on bitcoin exchanges, this cuts out the middleman and person. Alternative trade is in real life

Use escrow?

There is a topic that explains everything:

https://bitcointalk.org/index.php?topic=133931.0

But of course escrow doesn't mean the trade is 100% safe

Recent events -especially master-p case shows that you can never be sure when dealing with escrows.
Try to pick some really old and respected escrows who are in escrow business for long time.

Good advice, but in OP's case, he's looking for escrow on 0.05 value. I don't imagine anyone with green trust would risk his reputation to steal such trivial amount.

Edit: list of few trusted escrow providers:

https://bitcointalk.org/index.php?topic=855778.0

In case 1 you can use escrow, but don't forget to tip the one who provides the service.

In case 2 you are much better off by just using an exchange. Why take the risk of being ripped off, when there are many good quality exchanges around that handle both btc and ltc?

Yeah i agee with people here. Always using escrow when you do a transaction with other people here to prevent scam. especially if the user is newbie, you should careful

I think some are missing what OP is talking about buying in first statement.  He is talking about buying an account... I always suggest avoid doing this.   

Even with escrow account could be stolen and a staked address get's it back to rightful owner.   I see buying/selling account market as shady.   Even if you get the account... escrow can't prevent it's not stolen in all cases or that seller wont try to get it back.  So as I always suggest raise your own account stay away from account buying

Second situation is easier use a good well known exchange.  Changing LTC for BTC with exchange no escrow needed if one of the big sites.  If was huge amount I would do it in portions as I am always worrying.

always use escrow!

there is plenty of people willing to escrow for free just to build
up their reputation.  Or have the other person go first.

How to trust to legendary member?
How much is his trust worth?
I mean he won't scame you for 0.005btc but maybe for 20 btcs?

Good point. Safety is increased by the member's trust or reputation, but is decreased by the ammount traded. In other words: Safety=trust/ammount.

I would prefer to trade in small chunks if possible (you send me some coins, I send you some, then you send me some more etc.) but sometimes there are indivisible items.

If you're trading extremely large amount, it is the best to ask for multi sig escrow between several very trusted and well known members. Escrow is not exactly foolproof no matter how small it is, trusted users have known to scam for smaller amounts of Bitcoins. I believe the best way to choose an escrow is to judge by their trading history and not by their rank or trust.

you can always trust legendary account if you trading max 2btcs..
If you want to trade more ..More trust must be!

A trusted escrow.Although,it depends on the volume of the trades to choose an escrow because a trade involving $1 for exchange of an cracked account,is not really worth the escrow's time neither he will agree to it.In such case ,care should be taken that the trade is kept on forum as much as possible.Skype or other off forum trades are highly risky.Never go first with newbies or untrusted members of the forum.

Absolutely not. Legendary accounts are not as trustworthy as in the past. There's simply too many of them. You can easily buy one for less than 1btc (likely even 0.5), so sending someone 2 btc just because of legendary rank could be very bad idea.

Other problem is most trusted escrowers either don't provide services for trading accounts or charge at least 0.01, so not really good option for transaction of only 0.05 (as per OP).

Lol judging based on  a forum rank to escrow is not an option to choose how deserve they are, unless the amount to be escrowed is 1% of legendary account price so they will think it twice and would not risk their account to run scam. But yeahh it's still not worth if the account price are low. Would be better use a well known escrow service around here which have dozens experience do that.

I think your replied point is not exactly right. It means escrow which hold a bitcoin for the both parties safety.If anyone cheat also he will transfer the bitcoin according to their work and effort. Escrows you can services topic thread. It would be helpful for you I think.:)

There is a way to do that so both of them don't have to suspect the escrow whether the escrow will screw both of them lol.
They can just go to the exchange site instead. Exchange site simple can do it for them with peace of mind unless they do it with cryptsy.

Conclusion is there is no more safety like it was before!
You can't trust no one and if you trading you must find legendary donator.. :-\

what do you mean like before.
it has never been safe and it will never be safe to trust anybody :)

it is just about risk assessment. for instance using an escrow lowers the risk of getting ripped off but there is always (even tiny) risk of getting ripped off by someone even the escrow itself.

l mean now because BTC is rising, more scammers will come to surface. 8)

Trust is very difficult to achieve, Account can be hacked and you can get in trouble if you trading in that environment! If you decide to trade via escrow you must find legendary account and he can prove himself with pgp code i think?
https://bitcointalk.org/index.php?topic=855778.0

Also read this!
https://bitcointalk.org/index.php?topic=1339269.0

Use escrow only with highest trusted members!
You can also do a multi escrow with more trusted members at the same time
 if you have large quantity of btc or some other coins..

For any quantity of transactions or any work through bitcoins We can use Escrow system. Its much secured for both parties.
You can find Escrow mangers in services topic thread.