Is it possible to profit on Bitcoin escrow services?

[franky1]

due to things like multisig being part of LN. i dont think it will be long until escrow 'services' are a thing of the past. people will start using LN in different ways to do the things like escrows but without the middleman. because code will take care of it instead

same with mixers.. LN hubs will take over that role too.

in short the chances of setting up a business to be a middleman is starting to become obsolete, because essentially thats why this technology was created, to get rid of fat cats charging fee's to hold/service our funds.

[starsoccer9]

I think eventually yes, they will be, but I think we have a while to go for now. a lot of things currently can not be automated enough for escrow disputes, but eventually it will be possible.

due to things like multisig being part of LN. i dont think it will be long until escrow 'services' are a thing of the past. people will start using LN in different ways to do the things like escrows but without the middleman. because code will take care of it instead

same with mixers.. LN hubs will take over that role too.

in short the chances of setting up a business to be a middleman is starting to become obsolete, because essentially thats why this technology was created, to get rid of fat cats charging fee's to hold/service our funds.

[Jeremycoin]

Escrow is not that profitable because usually, the fee of escrow is just 1% which is so low. But if you got a request for escrow service with a big amount of money (like 1BTC), it could be profitable.

I think it is possible to profit on bitcoin escrow services and take the fees from it, although it will need much time and will be hard because the most difficult is get believe from users. You must be patient if you are realy will make its services.

I think you both, didn't read the OP and other comments above properly.
OP is not asking about that type of escrow or being a escrow provider.
he's asking some kind of bitcoin trading which built in some type of escrow. I my self didn't tried these type of services to don't know how much it is profitable or not.

You're actually right, it was my fault. But I thought the OP talking about Bitcoin escrow service in general, but it turned out the OP talking about the other thing.

[gilangIDR]

it is very possible. you can earn money from the profits into escrow. escrow usually attracts a fee for every transaction made. it will make the escrow become one of the lucrative job.

[countryfree]

No, don't think about it. The only person who can legitimately make a profit from escrow is the person providing the service, and his profit is very, very small. There's no way you could get a cut from that, and more than that, it would not be legitimate. Also, there's a lot of competitions between companies provoding escrow services. The margins are thin.

[shinratensei_]

Escrow is not that profitable because usually, the fee of escrow is just 1% which is so low. But if you got a request for escrow service with a big amount of money (like 1BTC), it could be profitable.

I think it is possible to profit on bitcoin escrow services and take the fees from it, although it will need much time and will be hard because the most difficult is get believe from users. You must be patient if you are realy will make its services.

I think you both, didn't read the OP and other comments above properly.
OP is not asking about that type of escrow or being a escrow provider.
he's asking some kind of bitcoin trading which built in some type of escrow. I my self didn't tried these type of services to don't know how much it is profitable or not.

Yes, you're completely right.

Maybe if I'm correct that is referred into building bitcoin trading using escrow system. but I don't think so, maybe that is will giving more profitable but I think that will giving a more charge into trader for using that. but I think you can just applying escrow system just for payment or withdrawal gateway, and like this, i wanna withdraw my money and I will get my first charge for my withdrawal from the trading site and the second I get from the escrow gateway.

[relq]

I think yes, it's possible to get profit with a bitcoin escrow service, but people need to trust you on this forum and it's hard to make people trust you, especially if you are new on this forum.

[Strongkored]

I think yes, it's possible to get profit with a bitcoin escrow service, but people need to trust you on this forum and it's hard to make people trust you, especially if you are new on this forum.

Yeah gain the trust of the people it is very difficult and takes a long process to be trusted. Moreover, many rivals existing ecrow services and some even free. But I think if he was going to get serious in this endeavor, should be tried first. thank you

[MingLee]

It is entirely possible to profit from escrow services, considering there is basically next to no overhead involved with their ownership and operation, however the people who do run escrow services typically run at very low percentages when it comes to fees, and so it might not be worth the time due to some many people being able to do the same thing, and only trust changing whether someone is a relatively good escrow service or not. If you want to run one go ahead, but the money you'll make is probably on the lower end.

[electronicash]

Even the trusted ones still get to be doubted by users especially what happen months ago with masterp.
There are websites doing escrow business but i don't see it used thru the transactions here. iCOs prefer to use exchanges as escrows.

[Herbert2020]

from what i have seen from escrows, sometimes it is a lot of work for little reward. so if you are looking for profit i doubt that you can find it by escrowing even in this new system, especially because it is kind of new and there are fewer people using it.

[lemipawa]

from what i have seen from escrows, sometimes it is a lot of work for little reward. so if you are looking for profit i doubt that you can find it by escrowing even in this new system, especially because it is kind of new and there are fewer people using it.

This is true, specially for those escrowing for Bitcointalk account, you dont only act as the 3rd party, you also act as the one who will verify the account if there's no hidden problem that may arise once deal is done and escrows name is on the line with that as well as being the person who checked the account first and you will be paid only a small amount that one can even say its a tip.

[yayayo]

Personally I would trust an individual escrow of my choice here at bitcointalk a lot more than Waterhole, regardless if photo ID was provided or not. We already had numerous scams where scammers did provide all kinds of identity proof. I consider demanding personal data unethical, useless from a security viewpoint and even dangerous taking a privacy perspective. So there is no reason to use a more expensive service like Waterhole. A great advantage of selecting an escrow here at bitcointalk is that you are able to browse the member's post history, which can often be used as a good indicator for trustworthiness.

Talking about the profit side of providing escrow, I think it is very difficult to live from it. There are a lot of free (donation-based) escrow providers, so the potential margin is very low. In addition you have to cover the risks associated with this kind of service. In my view, you should see providing Bitcoin escrow primarily as a way to help people (and the Bitcoin economy in general) and not as a good to make profit.

ya.ya.yo!

[Palodar]

Personally I would trust an individual escrow of my choice here at bitcointalk a lot more than Waterhole, regardless if photo ID was provided or not. We already had numerous scams where scammers did provide all kinds of identity proof. I consider demanding personal data unethical, useless from a security viewpoint and even dangerous taking a privacy perspective. So there is no reason to use a more expensive service like Waterhole. A great advantage of selecting an escrow here at bitcointalk is that you are able to browse the member's post history, which can often be used as a good indicator for trustworthiness.

Talking about the profit side of providing escrow, I think it is very difficult to live from it. There are a lot of free (donation-based) escrow providers, so the potential margin is very low. In addition you have to cover the risks associated with this kind of service. In my view, you should see providing Bitcoin escrow primarily as a way to help people (and the Bitcoin economy in general) and not as a good to make profit.

ya.ya.yo!

yes it is difficult because you must first build trust in the forum and i think it will took too long time and can cause a lot btc to prove that you are a trusted user here.
the best example here is buying a physical  coin in marketplace to trusted seller then pay it without hassle in that case they might give you a trusted feedback. but escrow service is not a good source of  income.
you must join campaign rather than that service if you really want to earn.

[universe_]

it is very possible. you can earn money from the profits into escrow. escrow usually attracts a fee for every transaction made. it will make the escrow become one of the lucrative job.

yeah of course it is possible, in my opinion if you are actually a trusted person you can earn a lot of money with the fees

[wintermeasures]

I already knew about Waterhole, and after reading this article, it got me thinking - is it possible to make a profit using a Bitcoin escrow service? Like if I download this Waterhole app, is there an undiscovered opportunity for a larger return, compared to trading on a regular exchange?

Bitcoin escrows are a tool, which is used to solve a specific problem. And that problem is not to trade bitcoins at the most efficient price, but rather at the highest degree of security, which, I'm assuming, means that the prices of each trade there should have a larger spread, hence more opportunity for profit. What are your thoughts?

According to me Firstly You Have To Build Some Trust Because Many Scammers Exist Here Then At First You Have To Offer your Escrow Service Free Of Cost Because It Helps You to Build Some Trust and Gain A User Base.....
Only Then You Can Make Profit With This Way.....

[takingthis4]

it is very possible. you can earn money from the profits into escrow. escrow usually attracts a fee for every transaction made. it will make the escrow become one of the lucrative job.

well you are right, though you have to be a really trusted person in order for people to use your services

[LFC_Bitcoin]

@OP - I wouldn't bother trying to offer escrow services at your rank. I'm just being brutally honest. There are dozens of high ranking accounts who already offer free or very low fee escrow here.

You need to be at least a Hero Member & have positive, green trust to make money as an escrow.

[universe_]

it is very possible. you can earn money from the profits into escrow. escrow usually attracts a fee for every transaction made. it will make the escrow become one of the lucrative job.

yeah of course it is possible, in my opinion if you are actually a trusted person you can earn a lot of money with the fees

[zahra4577]

I read this article and I wonder about something: "For instance, they (Waterhole) allow an optional three-step verification for the users, consisting of ID, photo and video verification."

So if you need to practically give them your DNA sample, then what is the reason behind escrow at all?

Escrow provides good protection against fraud in small as well as big transactions.
If some trade involves less amount and one of the party cheated other, the victim is not likely to take legal course as money involves is less and legal fee will be much higher. In such cases,escrow provides fast and secure transactions