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Author Topic: What is escrow?  (Read 1557 times)
outatime1
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September 25, 2016, 09:45:15 PM
 #21

The escrow is the person that handles the transaction for the buyer and seller. He/she should be trusted in the bitcoin forum community and impartial in the transaction.

 
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23dzmaz
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September 26, 2016, 04:42:43 AM
 #22

Escrow is a trusted third-party that holds funds in a secure Escrow Account. Funds are held in escrow until the the transaction is fulfilled. So both seller and buyer are safe when do the transaction.
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September 26, 2016, 09:49:43 AM
 #23

I searched for topics in trading section. I see in a lot of topics people talking about escrow like: "escrow is a must"
What does that mean?
I see that escrow is a website to make payments more secure, no?
But I saw in another topic one guy telling that he wants to be a third escrow. This confuses me.  Huh
That basically means that the seller or the buyer is making sure that he/she is safe from scammers. Having an escrow should always be a must if you don't want getting scammed.

There are some reports in this forum saying that they were scammed by a 'green' trust user. He thought it is safe to deal with that user without escrow because of the positive feedback he got from a DT member. It turns out, even if somebody has a positive trust like that, you still have to be very careful when dealing with them.

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Noctis Connor
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September 26, 2016, 10:33:44 AM
 #24

I searched for topics in trading section. I see in a lot of topics people talking about escrow like: "escrow is a must"
What does that mean?
I see that escrow is a website to make payments more secure, no?
But I saw in another topic one guy telling that he wants to be a third escrow. This confuses me.  Huh
Escrow is a person who had lots of positive feedback or the person who trust people to handle their money to hold their money if they buying something like you i will example my self i am buying something to you and i need escrow im going to send my payment to him/her and then it will going to send you after you give the thing that i bought to yu.
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September 26, 2016, 10:46:52 AM
 #25

An escrow is someone (company or person) who is trusted by the buyer and seller. The escrow will act as a middleman who makes sure that neither the buyer nor the seller scams anyone. Money, and usually the product, goes to the escrow. The escrow verifies that the product is as advertised, and then forwards both the payment and the product to the respective parties. If there is a dispute, the escrow is supposed to act as a mediator and resolve the dispute.
ok. Now makes sense
But who could be the escrow if I don't have any friend in common with the guy I want to trade. (this is an example)
A lot of people on the forum act as escrows. They have trade histories and are trusted by other members of the forum. The feedback system lets users see who trusts that user and has had a good experience trading with him.
but there's a chance of the escrow guy be a scammer?
Yes. But the chance the other party is a scammer is much more likely than the chance the escrow scams you.
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September 26, 2016, 05:46:06 PM
 #26

I searched for topics in trading section. I see in a lot of topics people talking about escrow like: "escrow is a must"
What does that mean?
I see that escrow is a website to make payments more secure, no?
But I saw in another topic one guy telling that he wants to be a third escrow. This confuses me.  Huh

Escrow is a person who holds the funds in a deal to make someone safe from a scammer, for example if you are selling bitcoins to someone on this forum you will hire a escrow to whom you will give your bitcoins and the other person (buyer of your coins) will pay you the amount and then you will tell the escrow to release the funds, if the buyer does not send the money the escrow will give your bitcoins back to you.
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September 27, 2016, 04:35:06 PM
 #27

In short, a middle man who both parties trust.

He or she can hold the funds and release only after the item is delivered to the buyer.

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September 27, 2016, 05:49:19 PM
 #28

In short, a middle man who both parties trust.

He or she can hold the funds and release only after the item is delivered to the buyer.

Normally while we having trade anything so money sender will sends the fund to the escrow person and he will manages the money for the both the parties involved in trade.
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September 27, 2016, 06:19:43 PM
 #29

Escrow is a middle man ( person or company ) which serves as a middle man for protecting both the buyer and the seller during a deal
Remember always use a trusted escrow provider there are lots of fake providers so stay away from them
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September 28, 2016, 01:41:35 PM
 #30

I searched for topics in trading section. I see in a lot of topics people talking about escrow like: "escrow is a must"
What does that mean?
I see that escrow is a website to make payments more secure, no?
But I saw in another topic one guy telling that he wants to be a third escrow. This confuses me.  Huh
Escrow is a trust forum member where they can trust there money to do it some trading. Normaly people using escrow if there buyer or seller are not that trusted enough to trust his bitcoin or money.

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