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Author Topic: How to get into the escrow offering business?  (Read 826 times)
HabBear
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January 27, 2017, 02:47:32 AM
 #1

Is it still possible to get into the escrow offering business on this forum?

I see the same 2 or 3 names offered or requested as escrow options - have these three cornered this market?

I know what escrow is, how to do it. I'm trustworthy (although not yet documented on this forum). Offering the service isn't the difficult part. It's the getting someone to choose you, especially when others who aren't part of the transaction are rooting against you or saying "you've never done it before, just go with [Name of Member Who Always Does It]".

I've tried to break in before and got quickly denied by people who weren't even part of the transaction, so please excuse my cynical remark.

Seriously - any ideas? Or is this a lost cause? Thanks.

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January 27, 2017, 02:55:55 AM
 #2

It's a lost cause. You'll just be slapped hard by some DT members here and told to just stop and lock. I've seen it quite some time.

Usually, people trust escrows with a lot of trusts too from the forum. Documented trades is the true measure of someone's trustworthiness in the forum. Maybe you can start doing business in the forums. The escrow business isn't that profitable anyway since most of them just offer it for free and it's just a service to the community.

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January 27, 2017, 02:58:43 AM
 #3

You shouldn't aim to get in the escrow business. Do legitimate trades, start getting people to trust you, and eventually people will ask you to escrow something, because they think you are trustworthy and because it's either a lower amount, or the "main" escrow's aren't online. Gradually, you'll get more people asking and then you can open an escrow service.



Documented trades is the true measure of someone's trustworthiness in the forum. Maybe you can start doing business in the forums.

Don't purposely do trades, just for the sake of getting trust and wanting to become an escrow.

The escrow business isn't that profitable anyway since most of them just offer it for free and it's just a service to the community.

Minerjones/OGNasty charges a minimum of 0.01BTC/escrow, so it can be profitable.



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January 27, 2017, 02:59:21 AM
 #4

I've started offering escrow in my local and just doing it for small transaction so they will trust me with the transaction because the amount is not any larger than my accounts value. ai've began escrowing mainly to help and not to make a business. Also I'm doing escrow for free. I think that's how most escrow providers starts here. People who already trust them are the ones who uses their service at the start and once they get enough rep they will be recommended by his/her previous customers to potential customers.

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January 27, 2017, 03:06:44 AM
 #5

You shouldn't aim to get in the escrow business. Do legitimate trades, start getting people to trust you, and eventually people will ask you to escrow something, because they think you are trustworthy and because it's either a lower amount, or the "main" escrow's aren't online. Gradually, you'll get more people asking and then you can open an escrow service.



Documented trades is the true measure of someone's trustworthiness in the forum. Maybe you can start doing business in the forums.

Don't purposely do trades, just for the sake of getting trust and wanting to become an escrow.

The escrow business isn't that profitable anyway since most of them just offer it for free and it's just a service to the community.

Minerjones/OGNasty charges a minimum of 0.01BTC/escrow, so it can be profitable.

Was just pointing out that documented trades is the basis of trust in the forum and not really encouraging people continually do it for the purpose of trying to be an escrow.

True they charge that amount, but usually there some that don't and only asks for tips like monbux and sebatianju. Which I think are more popular.

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January 27, 2017, 03:32:23 AM
 #6

It's a lost cause. You'll just be slapped hard by some DT members here and told to just stop and lock. I've seen it quite some time.

This is discouraging. Who are "DT Members", what's "DT"?

Usually, people trust escrows with a lot of trusts too from the forum.

This is the challenge, how does one build trust if they're not able to do escrow for the first time?!

Maybe you can start doing business in the forums. The escrow business isn't that profitable anyway since most of them just offer it for free and it's just a service to the community.

Do legitimate trades, start getting people to trust you, and eventually people will ask you to escrow something, because they think you are trustworthy and because it's either a lower amount, or the "main" escrow's aren't online. Gradually, you'll get more people asking and then you can open an escrow service.

I've started offering escrow in my local and just doing it for small transaction so they will trust me with the transaction because the amount is not any larger than my accounts value. ai've began escrowing mainly to help and not to make a business. Also I'm doing escrow for free. I think that's how most escrow providers starts here.

I don't really want to do any deliberate trades, but I'm sure I could find something that I don't want and then offer it for trade to see who does - this could be my way of building up trust. I got an idea - any of you need escrow services? Haha. I have much more to lose in reputation here than I would to gain by screwing anyone over.

Great advice here, thank you. I'll keep my head up and see what I can develop over a longer period of time.

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January 27, 2017, 04:39:40 AM
 #7

Just start out doing smaller escrows and do not be in a rush to handle bigger stuff. Once you have done a lot people will come to you and it just grows from there. Escrowing is pretty easy most of them time, but sometimes it really sucks!

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January 27, 2017, 04:48:29 AM
 #8

start off on here and using only the forum as a tool, use PM's and forum threads.  once you have that going, add a personal thread on here that is yours to conduct business on and move some of the escrow talk to there.  meanwhile, set up a free domain and website and play with some escrow scripts on there. once you have a good site setup, move it to a paid domain and still start here on the forum, but direct the users to use your site. 

copy any and all info from your site about the tx's and users and post it back here, to keep others up to date and informed.  put a simple forum/blog on a sub-directory of your escrow site and use for nothing other than posting the users and give them some kind of reputation on your site.  allow no one else to post or alter your reputation report pages.

the end result.  users find you here and then use your site for your service.  anyone that is starting to chat with someone about business can look on your site for reputation details and they can use your service or just the information.  your traffic slowly goes up on your site and you expand it to other forums, local exchanges and what not.

in the beginning, garner your rep as more important than money.  if a client argues with you over a $10 issue, give them the ten bucks, it is worth $10 to be considered a trusted business partner, rather than have that be the last $10 your service ever sees.
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January 27, 2017, 07:26:59 AM
 #9

If there is any more business that is more difficult to venture in based on 100% trust then its escrow as it is very difficult to even get someone to trust you out of the blue because they dont know you, and thats the difficult part where we have people who are trusted offering the same service. My own advice, is to start with non-escrow service such as buying and selling, gradually you move to escrow because starting with that immediately might not just go the way you wanted it...



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morantis
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January 27, 2017, 07:32:00 AM
 #10

you may also want to create a service that facilitates the escrow services already being used here.  perhaps a website with an escrow script.  contact those here that perform escrow for others and offer them the use of your site.  you may have to deposit a good amount in a multi-sig wallet for that to get accepted.  a multi-sig wallet may also be an option for developing trust on here.

back your service full a full 1 BTC in a wallet that you and another person have to access together.  have the other person be one of the most trusted forum members here and that way you and that member can both post that you have "secured" yourself up to a bitcoin.  use a smart contract and the trusted forum member can even access the wallet without you after a period of time.  that way if you screw up and bail, at least the trusted member can help pay people back six months down the line or whatever
StarofBTC
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January 27, 2017, 09:13:25 AM
 #11

Just start out doing smaller escrows and do not be in a rush to handle bigger stuff. Once you have done a lot people will come to you and it just grows from there. Escrowing is pretty easy most of them time, but sometimes it really sucks!
and Start from your local board. in local board people may understand you better and get ready to trust on you.
lots of trusted escrows are already offering escrow. and few of them are doing for free. a user have no point to use your escrow when here is more trusted escrows available. thats why trust is very important for this business.

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January 27, 2017, 09:19:09 AM
 #12

You have to get another target for start: you have to do a good number of small (?) transactions, you have to build up (green) trust.
It's very hard to get there, green trust is very hard to earn. One other thing that comes into my mind is to start managing campaigns.
In time the trust will build up if you have the time for it.

After you became a reputed member of the community you can try out the lending business. Right now you are very far from that.

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Superways
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January 27, 2017, 10:06:18 AM
 #13

You got a number of suggestions and threats but I will say just follow what blazed suggested to you and along with that try to spend some time on exchange section and try to help people on that section and try to stay away from the deals of newbies (they often scam) that will be your start of trading history and that will mark your trust rating.


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robelneo
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January 27, 2017, 10:15:56 AM
 #14

As much as possible get into the hero level and get as many green trust as many as you can a little one can so and try to avoid any red tag however small,it takes time but if you are serious to get into this profitable business you can do it,we need more people in this business.

.
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Superways
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January 27, 2017, 10:32:11 AM
 #15

As much as possible get into the hero level and get as many green trust as many as you can a little one can so and try to avoid any red tag however small,it takes time but if you are serious to get into this profitable business you can do it,we need more people in this business.
It is not important to wait for the hero rank for starting the job because I know a number of members have started that job from Sr.Member and just green trust is not important but he have valid green trust which will confirm his trust.

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Lone Shark
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January 27, 2017, 04:13:16 PM
 #16

As much as possible get into the hero level and get as many green trust as many as you can a little one can so and try to avoid any red tag however small,it takes time but if you are serious to get into this profitable business you can do it,we need more people in this business.
It is not important to wait for the hero rank for starting the job because I know a number of members have started that job from Sr.Member and just green trust is not important but he have valid green trust which will confirm his trust.

Yeah, you don't need to be a particular rank. You just have to be trusted enough by people to hold their bitcoins or any other valuables to help everybody be secure in trading. Everything should work out well for everybody if there is an escrow. Though, it's not uncommon to see escrows run away with the coins if it is a very large deal. Some actually build up their reputation and offer escrow with the final intention of stealing the escrowed funds.

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mexxer-2
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January 27, 2017, 04:17:54 PM
 #17

As much as possible get into the hero level and get as many green trust as many as you can a little one can so and try to avoid any red tag however small,it takes time but if you are serious to get into this profitable business you can do it,we need more people in this business.
It is not important to wait for the hero rank for starting the job because I know a number of members have started that job from Sr.Member and just green trust is not important but he have valid green trust which will confirm his trust.
Higher rank/trust is important as it means that you've invested time and money(trades) into bitcointalk/your account and are less likely to trash the reputation you gathered for a quick buck by scamming an escrow.

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pearlmen
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January 27, 2017, 07:50:25 PM
 #18

For me, escrow is not meant for every one because no one will even want to try a neutral trust member and without a positive trust, one cannot escrow I guess its only for some specific people.

LoyceV
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Howdy


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January 27, 2017, 08:02:02 PM
 #19

It's a lost cause. You'll just be slapped hard by some DT members here and told to just stop and lock. I've seen it quite some time.

This is discouraging. Who are "DT Members", what's "DT"?
If you have to ask this, you don't know this forum well enough. You have neither received nor given any trust, while you're on this forum for well over a year.

I'm trustworthy (although not yet documented on this forum).
You saying you're trustworthy doesn't mean it's true. Any scammer would say exactly the same! I'm not saying you're a scammer, I'm saying we can't know that.

I've handled small escrows (without charge), in a chatbox on another site.
I have always been curious to escrow on Bitcointalk too, but I know my trust ratings aren't near close enough to even consider it. And if you would start to escrow, you shouldn't do it for the money.

mbuk81
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January 27, 2017, 08:43:59 PM
 #20

Most members on here will say green trust in the most important issue when it comes to be a escrow well yes it is but every members as to start some where so start your own trust network on here with members that trust you now then in time you might gain green trust on here once you done a few small jobs with members that trust you. The other option is to is if a trusted escrow will be your guarantor and how some funds for you so that member will now that thgry can't be scamed not sure if any escrow would do this but it a idea

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