BTCrow.com - Bitcoin Escrow Service - For safer bitcoin transactions

[hiltonizer]

bad experience with this service... received email notification from them that buyer had initiated escrow. I took this as the payment was now in escrow, after sending the GC I learned that it fact wasn't and I got ripped off $75

It should not email the seller when the money is in fact NOT in Escrow.

[The 4ner]

bad experience with this service... received email notification from them that buyer had initiated escrow. I took this as the payment was now in escrow, after sending the GC I learned that it fact wasn't and I got ripped off $75

It should not email the seller when the money is in fact NOT in Escrow.

Damn. Sorry to hear that. Thanks for the heads up! I guess I won't be doing business.

[TheButterZone]

bad experience with this service... received email notification from them that buyer had initiated escrow. I took this as the payment was now in escrow, after sending the GC I learned that it fact wasn't and I got ripped off $75

It should not email the seller when the money is in fact NOT in Escrow.

Pretty sure "intiated escrow" does not mean "escrow is funded NOW". There are a lot of steps to go through on BTCrow, and it doesn't sound like you made it far enough into them.

[hiltonizer]

bad experience with this service... received email notification from them that buyer had initiated escrow. I took this as the payment was now in escrow, after sending the GC I learned that it fact wasn't and I got ripped off $75

It should not email the seller when the money is in fact NOT in Escrow.

Pretty sure "intiated escrow" does not mean "escrow is funded NOW". There are a lot of steps to go through on BTCrow, and it doesn't sound like you made it far enough into them.

Yes, very poor system for new users... obviously the fault is ultimately on me for not being more diligent but its worth noting its a bad system.

[The 4ner]

bad experience with this service... received email notification from them that buyer had initiated escrow. I took this as the payment was now in escrow, after sending the GC I learned that it fact wasn't and I got ripped off $75

It should not email the seller when the money is in fact NOT in Escrow.

Pretty sure "intiated escrow" does not mean "escrow is funded NOW". There are a lot of steps to go through on BTCrow, and it doesn't sound like you made it far enough into them.

TheButterZone, have you had positive experience(s) using that service? Someone I was planning to purchase a BTC off of mentioned using that service and I didn't feel comfortable enough to go through with it.

[TheButterZone]

bad experience with this service... received email notification from them that buyer had initiated escrow. I took this as the payment was now in escrow, after sending the GC I learned that it fact wasn't and I got ripped off $75

It should not email the seller when the money is in fact NOT in Escrow.

Pretty sure "intiated escrow" does not mean "escrow is funded NOW". There are a lot of steps to go through on BTCrow, and it doesn't sound like you made it far enough into them.

TheButterZone, have you had positive experience(s) using that service? Someone I was planning to purchase a BTC off of mentioned using that service and I didn't feel comfortable enough to go through with it.

Yes.

Here are the emails I received for the successful escrow completed on 2-4-13.

Confirm btcrow transaction #redacted

Please click here to confirm your email address and start the escrow process.

Your email was entered as the seller for btcrow.com transaction #redacted.
Description:    selling to tbz1
Escrow Amount:    3.50000000
Buyer Email:    redacted
Seller Email:    mine
Escrow Fee:    0.03500000
Fee Payable by Buyer:    0.03500000
Fee Payable by Seller:    0.00000000
Total Payable by Buyer:    3.535
Seller will Receive:    3.5
Tracking:    Not Required
Maximum Shipping Time:    0 day
Inspection Period:    1 day

Regards,
btcrow.com

The Buyer was the person with 3.5 BTC, the Seller (me) was the person paying for their BTC. I confirmed my email, and the Buyer was notified, and told to fund BTCrow's escrow BTC address generated for this transaction.

Bitcoins received for transaction #redacted

We have received a confirmed payment for btcrow.com transaction #redacted.

You are now required to ship the item(s) to the buyer. When this is complete please click here to mark the item(s) as sent.

Regards,
btcrow.com

This means the Buyer funded BTCrow's escrow BTC address generated for this transaction. I then clicked to mark the item (my payment for their BTC) as sent after sending payment.

Item(s) sent for transaction #redacted

You have confirmed that item(s) for transaction #redacted have been sent.
What Happens Next?

The buyer has been emailed a link to mark these items as received. This will start the inspection period.

To view the status of this transaction please use this link:
https://btcrow.com/view_transaction.php?id=redacted

Regards,
btcrow.com

Refer to previous caption.

Item(s) received for transaction #redacted

The buyer has marked item(s) as received for transaction #redacted. They now have 1 day to inspect the item(s).

To view the status of this transaction please use this link:
https://btcrow.com/view_transaction.php?id=redacted

Regards,
btcrow.com

Waiting...

Funds for transaction #redacted

The buyer has agreed to release 3.50000000 bitcoin(s) for btcrow.com transaction #redacted

You should receive these bitcoins within the next 24 hours. When you receive them the transaction will be closed.

To view the status of this transaction please use this link:
https://btcrow.com/view_transaction.php?id=redacted

Regards,
btcrow.com

More waiting, then I received their BTC within 24 hours.

[yoyoceramic]

Hi there,

Both the seller and I want to cancel the deal.  I have already funded the escrow, but he did not make the cash deposit to my bank since he did not have enough cash on hand.  How do we go forward and cancel the deal?

Mark

[TheButterZone]

https://btcrow.com/contact_us.php

[BTCrow]

bad experience with this service... received email notification from them that buyer had initiated escrow. I took this as the payment was now in escrow, after sending the GC I learned that it fact wasn't and I got ripped off $75

Sorry to hear about your loss. Below is a copy of our confirmation email that you possibly "took" as "payment was now in escrow" (emphasis added).

Confirm btcrow transaction #[REMOVED]

Please click here to confirm your email address and start the escrow process.

Your email was entered as the seller for btcrow.com transaction #[REMOVED].
Description:    [REMOVED]
Escrow Amount:    3.50000000
Buyer Email:    [REMOVED]
Seller Email:    [REMOVED]
Escrow Fee:    0.03500000
Fee Payable by Buyer:    0.03500000
Fee Payable by Seller:    0.00000000
Total Payable by Buyer:    3.535
Seller will Receive:    3.5
Tracking:    Not Required
Maximum Shipping Time:    0 day
Inspection Period:    1 day

Regards,
btcrow.com
[BTCROW EMAIL]

You're possibly the only person who has ever relied on this email as confirmation of funds received. For absolute clarity will update this email to include the wording "NOTE: NO FUNDS HAVE BEEN RECEIVED FOR THIS ESCROW. THE ONLY PURPOSE OF THIS EMAIL IS TO CONFIRM YOUR EMAIL ADDRESS."

It should not email the seller when the money is in fact NOT in Escrow.

For security reasons we must confirm both buyer and seller email before we proceed with the escrow process. This ensures both parties are able to receive btcrow.com notifications.

Edit: I'd also like to note that had you contacted us privately we may have been able to arrange some compensation. But instead you've chosen to post on a public forum for recourse.

[BTCrow]

"We are currently forming the BTCrow.com company in Australia. When the registration process is complete we will post all relevant company information here. In the meantime I will provide my personal contact details via private email."

Who would send money to en escrow service that does not even post their company information?  

"10. LIMITATIONS OF LIABILITY

UNDER NO CIRCUMSTANCES SHALL btcrow.com BE LIABLE TO YOU OR ANY OTHER PERSON OTHER THAN YOU FOR DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES (EVEN IF btcrow.com HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), RESULTING FROM ANY ASPECT OF YOUR USE OF btcrow.com WEBSITE OR THE SERVICE ..."

Who would send money to an escrow service that says they are not liable if they lose your money?  The whole purpose of an escrow service is that they protect your funds and they are insured over any such loss.

We do actually have a published service guarantee covering up to $500 USD for each escrow. Typically most of our escrows are around that amount, so most people are covered.  

http://btcrow.com/escrow_service_guarantee.php

We have also been around since mid 2011, processed 1000s of Bitcoin escrow transactions, and have a proven track record of keeping client's funds secured.

[BTCrow]

How long do I have to wait to have my bitcoins released to me.. Both buyer and seller have verified payments, got confirmation from btcrow, been waiting 14 hours now. I really need these btc. I have emailed once, and sent a message on the site about my transaction.

The release of bitcoins is a manual process, and takes up to 24 hours. We do this manually for security reasons. Transactions above a certain amount are stored in an off-line paper wallet. Smaller escrows are stored in an encrypted wallet, and require the wallet to be manually unlocked before we release the funds.

For larger escrow amounts we also like to send a courtesy email to double check the BTC address is current.

[BTCrow]

Hi there,

Both the seller and I want to cancel the deal.  I have already funded the escrow, but he did not make the cash deposit to my bank since he did not have enough cash on hand.  How do we go forward and cancel the deal?

Mark

Your cancellation was processed shortly after you contacted us.

"he did not make the cash deposit to my bank since he did not have enough cash on hand". This is exactly the type of situation where escrow protects your interests.

[hiltonizer]

bad experience with this service... received email notification from them that buyer had initiated escrow. I took this as the payment was now in escrow, after sending the GC I learned that it fact wasn't and I got ripped off $75

Sorry to hear about your loss. Below is a copy of our confirmation email that you possibly "took" as "payment was now in escrow" (emphasis added).

Confirm btcrow transaction #[REMOVED]

Please click here to confirm your email address and start the escrow process.

Your email was entered as the seller for btcrow.com transaction #[REMOVED].
Description:    [REMOVED]
Escrow Amount:    3.50000000
Buyer Email:    [REMOVED]
Seller Email:    [REMOVED]
Escrow Fee:    0.03500000
Fee Payable by Buyer:    0.03500000
Fee Payable by Seller:    0.00000000
Total Payable by Buyer:    3.535
Seller will Receive:    3.5
Tracking:    Not Required
Maximum Shipping Time:    0 day
Inspection Period:    1 day

Regards,
btcrow.com
[BTCROW EMAIL]

You're possibly the only person who has ever relied on this email as confirmation of funds received. For absolute clarity will update this email to include the wording "NOTE: NO FUNDS HAVE BEEN RECEIVED FOR THIS ESCROW. THE ONLY PURPOSE OF THIS EMAIL IS TO CONFIRM YOUR EMAIL ADDRESS."

It should not email the seller when the money is in fact NOT in Escrow.

For security reasons we must confirm both buyer and seller email before we proceed with the escrow process. This ensures both parties are able to receive btcrow.com notifications.

Edit: I'd also like to note that had you contacted us privately we may have been able to arrange some compensation. But instead you've chosen to post on a public forum for recourse.

I made it clear above that the failing was ultimately mine. I did not post looking seeking recourse and there is no evidence that I did anywhere, I simply provided feedback that hopefully served as a warning to others to not make the same mistake. Your tone here is more detrimental to your reputation than my post was ever intended to be.

[BTCrow]

I made it clear above that the failing was ultimately mine. I did not post looking seeking recourse and there is no evidence that I did anywhere.

And I never implied your post was seeking recourse. I simply stated that had you contacted us first, when it happened, we may have been able to compensate you. Even though you're the only one who has ever had this issue (that we're aware of) and the fault is clearly yours (as you've stated).

I simply provided feedback that hopefully served as a warning to others to not make the same mistake.

Thankfully well over 99% of our customers actually read the confirmation email. However, for complete clarity we have since added bold wording to the effect that the escrow is currently unfunded.

Your tone here is more detrimental to your reputation than my post was ever intended to be.

Btcrow.com's reputation is based on nearly two years serving the bitcoin community. We've processed 1000s of transactions, a lot of those have been very high worth. We have 1000s of happy customers. We're not aware of any customers who've suffered financial loss because of a fault on our part.

[yoyoceramic]

Hi there,

Both the seller and I want to cancel the deal.  I have already funded the escrow, but he did not make the cash deposit to my bank since he did not have enough cash on hand.  How do we go forward and cancel the deal?

Mark

Your cancellation was processed shortly after you contacted us.

"he did not make the cash deposit to my bank since he did not have enough cash on hand". This is exactly the type of situation where escrow protects your interests.

Thanks for such a speedy response, Paul.  Thank you for the refund.
Recommended.

yoyoceramic
http://bitcoin-otc.com/viewratingdetail.php?nick=yoyoceramic

[jimmydorry]

Apparently the transaction can be funded before the seller confirms their email address... this has left me in an awkward situation now.

Hope the site admin/(s) can fix it by changing the seller email address. Doh.

[FundsMoney]

Any news regarding btcrow?

I'd like to use it for a transaction, but haven't seen any new transactions completed. Is it safe and reliable?

[The 4ner]

I say just use John's escrow services depending on the amount of money being handled he'll even do it for free.
Nevertheless a small tip wouldn't hurt.

[ninjaboon]

Any news regarding btcrow?

I'd like to use it for a transaction, but haven't seen any new transactions completed. Is it safe and reliable?

I'll can be the manual escrow of your TX if you need one.

btcrow is reliable. I know the admin.

[zaki]

what happens if buyer gets product, marks as received too, but doesn't release escrow for the seller?

do you have some sort of auto escrow release?