How does escrow work?

[Harvey Specter]

I would like to use escrow so I don't get accused as scammer and have my ass covered but don't know how they work?

[franky1]

I would like to use escrow so I don't get accused as scammer and have my ass covered but don't know how they work?

forum escrow
both people deciding on a mutually trusted person to be the middle man to hold both funds and arrange the swap once both have paid in. that way one person cant run off before the other one does.

local bitcoins escrow
the bitcoin are locked in and cannot be withdrawn unless the person hand over the fiat which gets acknowledged by the seller, to allow the buyer to receive the bitcoins. or for the buyer to cancel the purchase thus allowing the seller their bitcoins back

inshort both methods are middle men storage that release funds when both sides forfill the trade requirements, otherwise both sides get refunded.

[BTCIndia]

franky1,

How much are you being paid by agency?

[Xiaoxiao]

Escrow works by a third party that is very reputable holding verifying and holding on the the product being traded, and then release it to the rightful person.

[krishatnet]

It is a middle man service.

[Direfulk]

1. Both buyer and seller gives wealth to escrow.

2. Escrow handles goods to the buyer.

3. Buyer confirms that he received what he wanted and then escrow handles money to the seller. Other wise buyer handles product back to escrow and escrow gives to buy/seller everything back.