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Author Topic: Escrow transactions  (Read 519 times)
DarkAssassin267
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March 02, 2016, 10:54:46 AM
Last edit: March 02, 2016, 11:14:02 AM by DarkAssassin267
 #1

I'm about to do my first btc transaction through escrow. I'm the one selling. Can anyone give me a full step by step tutorial?

Btc to Paypal.

Thank You
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marcuslong
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March 02, 2016, 10:57:12 AM
 #2

The seller sends the bitcoins to the bitcoin address of the escrow
You pay the seller
The seller notifies the escrow he has received your payment
The escrow releases the bitcoins to your bitcoin address

Finished

Who are you buying from?
How much are you buying?
What is your payment method?
SebastianJu
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March 02, 2016, 11:07:48 AM
 #3

The seller sends the bitcoins to the bitcoin address of the escrow
You pay the seller
The seller notifies the escrow he has received your payment
The escrow releases the bitcoins to your bitcoin address

Finished

Who are you buying from?
How much are you buying?
What is your payment method?

What are you writing? Did you mix up seller and buyer? Edit: I realize you don't pay with bitcoins, you take bitcoins as the goods. It's easier to only handle bitcoins as the currency on this forum. You buy and sell everyhing by paying with bitcoins. You buy fiat with bitcoins for example.

In these terms it would be this way:

Of course the escrow sends the escrow address to both traders. Then seller pays the bitcoins to he ESCROW address. Once the seller see the coins in that address he will ship the goods to the buyer. Buyer then tells the escrow that he received everything in good state. Escrow releases bitcoins to the seller.

That's all.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
Patatas
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March 02, 2016, 11:20:42 AM
 #4

Follow the Rules ,they're not exactly rules but do consider them

1.Make sure you are actually using the right escrow and not a fake one.You know,these days its easy to get scammed by the fake impersonator escrows floating around the forum.

2.Most of the escrows have a pgp key mostly from keybase.Verfiy it here https://keybase.io/

3.Not sure if your trade is taking place here but suppose you have to buy a forum account from seller B (consider yourself as buyer A).You message one of the escrows if they're willing to escrow your trade,once they conform follow step 4.

4.You group message including the seller and the escrow with the terms of trade you had with the seller.Like in forum's account case ,potential activity : 250+,Staked message 1 year old,prince 0.12 etc

5.Once both the parties agree ,escrow will sign a message with his conditions IE buyer sends coins to xyz address after one conformation ,the seller has to send account details to the escrow. (the sign message generally has the info on his fees as well)

6.Escrow verifies the account details as stated in the point 4 and makes sure the details are accurate and as agreed upon.

7.You can ask any information about the account to escrow and he shall give in all the details .

8.The details are later sent to you to verify (meanwhile the coins are still with the escrow).Once you conform and change the account details,the escrow coins are released.
This is just an example of forum's account trade.Conditions do change depending on the volume and type of trade.


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SebastianJu
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March 02, 2016, 11:34:01 AM
 #5

2.Most of the escrows have a pgp key mostly from keybase.Verfiy it here https://keybase.io/

Verifying your identity is possible with a signed message from a very old address of yours. I do that. Smiley

I think it might be that more users know how to verify a message instead a pgp key. But at the end, if the escrow sends a link to a checking site, it does not matter. It's easy to check anyway.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
sunstar
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March 03, 2016, 03:29:38 PM
 #6

I also want to thank for this explanation.

Is there a list of all trusted bitcointalk escrowers?
electronicash
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March 03, 2016, 03:53:08 PM
 #7


You are selling BTC in exchange of Paypal fund right?

You are aware that escrows can't do something when your buyer files a dispute over paypal? unless of course your escrow send the btc after 180 days.

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romero121
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March 03, 2016, 04:37:54 PM
 #8

Nothing much to be explained. Contact the trader and fix the price with your local currency. Once you account is credited with the specified price use the release bar to send the bitcoins to the trader.

SebastianJu
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March 03, 2016, 05:58:00 PM
 #9

I also want to thank for this explanation.

Is there a list of all trusted bitcointalk escrowers?


Yes there is. Check out this thread: https://bitcointalk.org/index.php?topic=855778

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
sunstar
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March 04, 2016, 10:02:26 AM
 #10

I also want to thank for this explanation.

Is there a list of all trusted bitcointalk escrowers?


Yes there is. Check out this thread: https://bitcointalk.org/index.php?topic=855778

Thank you! This list is very helpfull for new users!
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