Escrow Guide

[Hydrogen]

This is an interesting topic. Is there a shortage of reliable escrow services for crypto? Maybe I should start one. One thing about escrow, having a reliable service people trusts will increase the overall value of bitcoin. Everyone wins. That makes it worth focusing on long term bitcoin value rather than being a thief and looking for short term gains that will only cause people to lose faith in btc overall.

[michkima]

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

It is quite easy. It is either the seller sends the goods to the escrow or the buyer sends the bitcoins to the escrow. If all checks out then the escrow will release whatever he has to the proper party. Plain and easy. You have to choose a reputable escrow though, there are plenty scammers out there, so be careful.

[jamespx]

Escrow and Customer Service, these are the things that
should be looked at when buying or trading for bitcoins.

Those are the things I loved about Paxful.

[Roboabhishek]

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

I never did escrow on this forum so I don't know much about it personally but what actually happens here is that you and your seller send btc , collateral, assets to the escrow manager and he will exchange it for buyer and seller.
There are plenty of escrow managers here on this forum choose a trusted one

[Wipro]

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

I never did escrow on this forum so I don't know much about it personally but what actually happens here is that you and your seller send btc , collateral, assets to the escrow manager and he will exchange it for buyer and seller.
There are plenty of escrow managers here on this forum choose a trusted one

To know escrow service, you don't need to be a escrow manager. To say as simply as laymen concept. Escrows are the middle men available in this forum. Who can help you to transact the bitcoin safely for sender and receiver. Some won't spare the fees cost and some would ask about that.
There is a list of members available in the forum to help you in this, you can find it service discussion section.

[player514]

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

I never did escrow on this forum so I don't know much about it personally but what actually happens here is that you and your seller send btc , collateral, assets to the escrow manager and he will exchange it for buyer and seller.
There are plenty of escrow managers here on this forum choose a trusted one

You should start using an escrow to mediate your trades. Especially when dealing with newer members who can offer all kinds of cool, new cheap products for this forum, you need to be careful with your deals. This goes for OP too and anyone that is reading this. Escrows help make trades safer and more effective even though they may take a bit more time out of your day.

[passwordnow]

You'll just escrow if there's a need to avail or use their services. But if you are trusting the person you are dealing with then there's no need for you to have some guides for using an escrow. It's a very easy thing to ask them for your deals, just message reputable people here.

[john2231]

I recommend to choose the big 3 if you are dealing a large amount to others check this thread
https://bitcointalk.org/index.php?topic=855778.0
And you see the old escrow here in forum the big 3 can be choose as most trusted here in forum and it is good to choose them if you dealing a large transactions ..

[Yanisumin]

I do not buy the I deal of this escrow, because if the service has been released and it works well then and later tell escrow that it doesn't work out that they shouldn't released the money. Man you get screw from there, with my own opinion escrow do scam too and not 100% sure.

I think they are offering some assurance too because they are acting as a middleman, well there are some trusted escrows in these forum and not all are scams and in my opinion  I think some reputable escrows here will accept payments even if it's not that high than scam people out and destroy their trust.

You'll just escrow if there's a need to avail or use their services. But if you are trusting the person you are dealing with then there's no need for you to have some guides for using an escrow. It's a very easy thing to ask them for your deals, just message reputable people here.

But because this is an international organization and almost all of us here are hiding  at the back of our computer it would be hard to find someone that you trust unless you know him for a long time that's why escrow are created and yes it's better to pay high in the reputable ones than pay on someone claiming that they are escrows but in the end scam people out.

[bohr]

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

At is core escrowing is not an activity that requires great knowledge or skill, but it requires a massive amount of trust, so if you are looking for an escrow you can find many well reputed members in the forum willing to escrow for you, now if what you want is to become and escrow then that is going to be a lot harder since as I have said you need to be trusted and you are a new member of the community.

[ekans45]

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

I'm not too sure about a guide, but escrow is a pretty simple and effective concept. Basically, you bring another trusted member into your 2 man deal. Say you're trading an Amazon gift card for Bitcoin and dont want to be scammed. You send the Bitcoin to the escrow and the other person will directly send you the Amazon card. When you confirm that the card is working and test it out, you can tell the escrow to release the funds to the other guy.

There are services in this section. Just use the search function to find an escrow. I offer services too, so let me know if you'd like me to escrow for you.

The point of having a escrow is simply by having two way man to secure your transaction on a both one to one cases. But in terms of ICO and signature , Escrow is the one who manage the system of transactions of dealing with sending profits and bitcoins for the participants.

[UCHCHILD]

Having an escrow is just having a middle man with your transactions and it is more good in both party because there is security for the money that will be going out to the sender's wallet.
Anyway I am a bit confused if you want to use escrow or be an escrow someday?
If to be an escrow you need to build up good reputation and high level or ranked up account here.

[batang_bitcoin]

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

Hey there adamantasaurus, most of the comments here are right. And escrow is basically just a guy that will secure your funds together with other party that you'll transact. In this case that for sure you'll be using it in the future, always go to the recommended people and has a good reputation here in forum. Don't just go with the people that wants to be your escrow without trading history.

[Kevin77]

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

Actually to use escrow is easy. Just know who will stand for it, it must be trusted here in the forum. Anyway escrow service is the one who stand as middle man, it really has to be trusted, there is a list here in this forum whom you can trust on. Just be wise on choosing some gives it free and some ask for high fee. If your transaction is just in small amount maybe you can do it without escrow but if the amount is a hundred bucks and you are newbie for sure they will ask for escrow, that is the time you gonna use escrow service.

[wiredideas]

I personally believe that escrow is a great equalizer, it levels the playing field. In escrow, you only need to have a trusted escrow to make a good deal to work. Trusted escrow serves as a scam protector and it protects both ways.

[bohr]

This is an interesting topic. Is there a shortage of reliable escrow services for crypto? Maybe I should start one. One thing about escrow, having a reliable service people trusts will increase the overall value of bitcoin. Everyone wins. That makes it worth focusing on long term bitcoin value rather than being a thief and looking for short term gains that will only cause people to lose faith in btc overall.

There are many good escrows but we cannot ever have enough good escrows, an escrow that may have been a long term member of the community could decide to just stop offering his services because he found another way to make money, or maybe he has so much work that he can only accept big deals and does not have the time to escrow for small deals anymore.

[kiloiko]

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

Escrow is a form of security when you’re paying for something online and you don’t really trust the person you are dealing with, you simply bring in a middle man that is trusted and you send him the money while the person sends the good or service to you and the escrow confirms the deal.

[nightways]

Hey Everyone,

Just wondering since I've never escrowed before I would like/need to in the future. Is there a guide on how to escrow somewhere around here?

Thanks

It is just a form of security put in place by payment sites like paypal.com and localbitcoins.com that enables them to release the money to the seller after you have confirmed delivery of a good service or that you are satisfied with what you got.

[alva 777]

it is simple go to trust and check green one

many green users provide escrow service here and other  use them rank as escrow

[KaydenC]

I developed a Ethereum Escrow Smart Contract/Dapp.


The buyer creates an escrow transaction, specifying the seller address, escrow address and amount of Ether. The smart contract locks the buyer's funds. When buyer receives the item, he can release the locked funds in the Dapp.

If a dispute happens, the escrow agent can step in to refund the buyer, or release funds to seller. At any point in time, the escrow agent NEVER has access to the funds, which elimates one big security risk of transferring the entire transaction amount to the escrow.


In exchange for his service, escrow agent can set a percentage fee to charge.


Here's some screenshots of the Dapp. It is live at: http://escrowmyether.com/


If you are looking to offer escrow services, have a look, it might be useful for you It greatly reduces the Escrow agent's workload, because if the transaction proceeds smoothly, Buyer will release funds himself. There is no intervention required by the Escrow agent, saving a lot of time. Assuming 90% of transactions have no dispute, that's 90% of time saved.


Requires connection to an Ethereum node. I suggest Metamask as it only takes 3 mins to setup. Parity will work as well.



Picture of buyer's dashboard. Click initialize new transaction to create new escrow tx.




Enter seller address, escrow address and amount to send. If the address is entered correctly, the seller/escrow's name will appear.



If you own the address, you can update your profile info. It is stored on the blockchain.



Buyers, when you receive your product. Please head into the dashboard, click the transaction, and click "Release Funds"



When a transaction is complete, Seller can withdraw his funds from the smart contract. Escrow agent can also withdraw his fees. If transaction is refunded, Buyer can withdraw the refund.




I made a video guide for escrow agents and buyers: https://www.youtube.com/channel/UCLN7fp80Uh8Iwy0tI2jTU0A


For a written guide using the Dapp, please read this thread: https://bitcointalk.org/index.php?topic=2221107.0


It's all open source. You can see the code if you're interested

Escrow smart contract: https://etherscan.io/address/0x1c02ce498dc6d0d6ef05a253e021258b07eeba91#code

Smart contract for storing profile info: https://etherscan.io/address/0xcf356ab67132c1359ebdd0ccc928fdb020eaa929#code

Github: https://github.com/KayinCheung/KayinCheung.github.io


It has been reviewed by Reddit /r/EthDev community with a 1 ETH bug bounty: https://www.reddit.com/r/ethdev/comments/6zwb1x/escrowmyether_1_eth_bug_bounty/


Disclaimer: There is a 0.25% dev fee to support future development. If Escrow agent charge 1%, the total fees for Seller is 1.25%. It's free to use for Escrow agent and Buyers.


If you need help setting up to offer escrow service, please feel free to pm me. Any feedback is greatly appreciated.