Bitcoin Forum
April 21, 2019, 11:02:27 PM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
   Home   Help Search Login Register More  
Pages: [1]
Author Topic: ESCROW - what it is and how to use it.  (Read 521 times)
Full Member
Offline Offline

Activity: 154
Merit: 100

View Profile WWW
July 23, 2013, 05:30:20 PM

ESCROW - If you don't know what it is or how to use it, this thread is for you.

Quote from: wikipedia
An escrow is:
an arrangement made under contractual provisions between transacting parties, whereby an independent trusted third party receives and disburses money or documents for the transacting parties, with the timing of such disbursement by the third party dependent on the fulfillment of contractually-agreed conditions by the transacting parties.

The word derives from the Old French word escroue, meaning a scrap of paper or a roll of parchment; this indicated the deed that a third party held until a transaction was completed

A third party is used that both buyer and seller trust to mediate any dispute. Usually, in a cash-for-BTC trade, the escrow agent will hold the BTC on behalf of the party receiving cash, and once the cash has been confirmed received, the escrow agent will release the BTC to the correct party.

If the cash doesn't go through/other issues, the escrow agent can return the BTC. This protects the BTC-seller as his transaction is irreversible, and often the cash transaction is not.

Here is a list of people who escrow - remember than anyone can post in this list, only use an agent you trust! I can personally recommend John K.
Escrow list

(please provide feedback or edits for this OP and hopefully we can sticky it?)

ส็็็็็็็็็็็็็็็็็็็็็็็็็ GPG:2AFD99BB ಠ_ಠ mon
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Hero Member
Offline Offline

Posts: 1555887747

View Profile Personal Message (Offline)

Reply with quote  #2

Report to moderator
Offline Offline

Activity: 2016
Merit: 1000

View Profile WWW
July 24, 2013, 08:50:41 AM

Yes, JohnK is the man to use for manual escrows.
He is from the same country as me.
But if you need an automated escrow, then see my sig.

Pages: [1]
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!