Escrow: how does it work here, where do I find it?

[2bfree]

I send $20 money pack yesterday for my first trade with a member I found on the exchange subforum, I have yet to get the bitcoins he said to wait till it gets registered on the blockchain so I'm waiting but for larger sums I would like to use escrow for trades, can someone explain how that would work if I buy for example $200 MoneyPak for some litecoin lets say, where do I get the escrow and how long would everything take on average and how much do I pay escrow service?

Thanks in advance

[hilariousandco]

I send $20 money pack yesterday for my first trade with a member I found on the exchange subforum, I have yet to get the bitcoins he said to wait till it gets registered on the blockchain so I'm waiting but for larger sums I would like to use escrow for trades, can someone explain how that would work if I buy for example $200 MoneyPak for some litecoin lets say, where do I get the escrow and how long would everything take on average and how much do I pay escrow service?

Thanks in advance

You send the money to an escrow agent, then seller sends the coins to you, then the escrower releases the funds to the seller.

[2bfree]

I send $20 money pack yesterday for my first trade with a member I found on the exchange subforum, I have yet to get the bitcoins he said to wait till it gets registered on the blockchain so I'm waiting but for larger sums I would like to use escrow for trades, can someone explain how that would work if I buy for example $200 MoneyPak for some litecoin lets say, where do I get the escrow and how long would everything take on average and how much do I pay escrow service?

Thanks in advance

You send the money to an escrow agent, then seller sends the coins to you, then the escrower releases the funds to the seller.

Thanks @hilariousandco but where do I find this escrow agent?

[hilariousandco]

I send $20 money pack yesterday for my first trade with a member I found on the exchange subforum, I have yet to get the bitcoins he said to wait till it gets registered on the blockchain so I'm waiting but for larger sums I would like to use escrow for trades, can someone explain how that would work if I buy for example $200 MoneyPak for some litecoin lets say, where do I get the escrow and how long would everything take on average and how much do I pay escrow service?

Thanks in advance

You send the money to an escrow agent, then seller sends the coins to you, then the escrower releases the funds to the seller.

Thanks @hilariousandco but where do I find this escrow agent?

List of trusted escrowers is here: https://bitcointalk.org/index.php?topic=108716.0

[2bfree]

perfect I love this and can see the fee. This is great, thank you!

[nerobie]

perfect I love this and can see the fee. This is great, thank you!

you will need to use escrow for trades !!!

[2bfree]

perfect I love this and can see the fee. This is great, thank you!

you will need to use escrow for trades !!!

I just did my first trade with a member here for $20 money pack still don't have the money I send the money pack I didn't know about escrow he says the transaction is to small that is why it's not showing up yet and that resent it again, I said if I get both 2 times I'll return one, but havn't gotten it yet I hope I will get it later today since I want to buy domain and hosting with bitcoin so I need some. Hopefully I get them, lets see but at least I learned that you are right I need escrow.

[hilariousandco]

perfect I love this and can see the fee. This is great, thank you!

you will need to use escrow for trades !!!

I just did my first trade with a member here for $20 money pack still don't have the money I send the money pack I didn't know about escrow he says the transaction is to small that is why it's not showing up yet and that resent it again, I said if I get both 2 times I'll return one, but havn't gotten it yet I hope I will get it later today since I want to buy domain and hosting with bitcoin so I need some. Hopefully I get them, lets see but at least I learned that you are right I need escrow.

Who did you send to? Sounds like he's BSing you to be honest.

[2bfree]

perfect I love this and can see the fee. This is great, thank you!

you will need to use escrow for trades !!!

I just did my first trade with a member here for $20 money pack still don't have the money I send the money pack I didn't know about escrow he says the transaction is to small that is why it's not showing up yet and that resent it again, I said if I get both 2 times I'll return one, but havn't gotten it yet I hope I will get it later today since I want to buy domain and hosting with bitcoin so I need some. Hopefully I get them, lets see but at least I learned that you are right I need escrow.

Who did you send to? Sounds like he's BSing you to be honest.

I'll post in a few days the username if I don't get the money and then next time use an escrow, right now I hope it's just a type on the account number he used or something and I get the coins that is what I'm hopping for. But if not I will post what went on via skype and email. Lets hope it's just some mistake.

[BITMIXER.IO]

You may try the new service https://www.bitrated.com/
It use m-of-n transactions, so you don't need a escrow or arbitration if the deal ends well.

[hilariousandco]

You may try the new service https://www.bitrated.com/
It use m-of-n transactions, so you don't need a escrow or arbitration if the deal ends well.

And if it doesn't end well?

The arbitrator is chosen ahead of time, and is to be agreed upon by both the buyer and the seller. In case of a dispute, the parties can ask the arbitrator to give his ruling and decide what to do with the money.

This isn't foolproof. You'd probably be better just using a trusted escrow.

[2bfree]

You may try the new service https://www.bitrated.com/
It use m-of-n transactions, so you don't need a escrow or arbitration if the deal ends well.

And if it doesn't end well?

The arbitrator is chosen ahead of time, and is to be agreed upon by both the buyer and the seller. In case of a dispute, the parties can ask the arbitrator to give his ruling and decide what to do with the money.

This isn't foolproof. You'd probably be better just using a trusted escrow.

I just wanted to try it out for $20 bucks though I would get it done in minutes 3 days ago and have my first coin now i'm wasting time on skype/email trying to figure out why it's not coming over hopefully he just put the wrong address in he said he will share desktop to try to help

[WithoutPermission]

Use a trusted escrow, is the best way to go about it. Safest for both parties too.

[2bfree]

Use a trusted escrow, is the best way to go about it. Safest for both parties too.

Yup, I got that lesson lets hope it doesn't cost me the 20 bucks we will know soon. In the mean time need a few hundred dollars to get started in bitcoin willing to deposit in bank account or buy moneypak or buy something BUT VIA TRUSTED ESCROW. Anyone interested with trusting history let me know and I want to do it in multiple transactions. Thanks.

[hilariousandco]

You may try the new service https://www.bitrated.com/
It use m-of-n transactions, so you don't need a escrow or arbitration if the deal ends well.

And if it doesn't end well?

The arbitrator is chosen ahead of time, and is to be agreed upon by both the buyer and the seller. In case of a dispute, the parties can ask the arbitrator to give his ruling and decide what to do with the money.

This isn't foolproof. You'd probably be better just using a trusted escrow.

I just wanted to try it out for $20 bucks though I would get it done in minutes 3 days ago and have my first coin now i'm wasting time on skype/email trying to figure out why it's not coming over hopefully he just put the wrong address in he said he will share desktop to try to help

Don't do that. He might be able to gain access to other stuff you have then and take even more from you. If it was three days ago you've been scammed.

[2bfree]

perfect I love this and can see the fee. This is great, thank you!

you will need to use escrow for trades !!!

I just did my first trade with a member here for $20 money pack still don't have the money I send the money pack I didn't know about escrow he says the transaction is to small that is why it's not showing up yet and that resent it again, I said if I get both 2 times I'll return one, but havn't gotten it yet I hope I will get it later today since I want to buy domain and hosting with bitcoin so I need some. Hopefully I get them, lets see but at least I learned that you are right I need escrow.

Who did you send to? Sounds like he's BSing you to be honest.

I'll post in a few days the username if I don't get the money and then next time use an escrow, right now I hope it's just a type on the account number he used or something and I get the coins that is what I'm hopping for. But if not I will post what went on via skype and email. Lets hope it's just some mistake.

Ok, so I got a PM from journeytodogecoin:

(No subject)
« Sent to: 2bfree on: January 08, 2014, 09:38:02 PM »
« You have forwarded or responded to this message. »
Reply with quoteQuote  ReplyReply  Remove this messageDelete 
if u need btc equavalent to your mp i sure can help you


then:

Re: (No subject)
« Sent to: 2bfree on: January 08, 2014, 10:53:10 PM »
« You have forwarded or responded to this message. »
Reply with quoteQuote  ReplyReply  Remove this messageDelete 
u have skype so our talk can be faster? if so what is it? or email..

we got on skype:

I sent the MoneyPak it's been 4 days I didn't get the bitcoins he says it's because the transaction is to small can't make to my wallet I said yesterday I want the bitcoins by the end of the day or the dollars back now he doesn't respond.

Any ideas what I can do or it's just a price to pay for my ignorance of not nowing to use escrow?

Why is it so hard to get bit coins and also last night a guy from Costa Ricka tried the same scan me send first he will send later and just hung up when i said I was scam.

What is going on here?

[Dudecoin]

Is there an escrow site for exchanging cryptos?

[Sheldor333]

How big of transaction was it? You have to agree on terms before you send them bitcoins. Escrow works as a guarantee, for exchange between two parties. When you agree on terms tell them to your escrow agent. Then do the trade. If you are exchanging money for bitcoins, ask to see bitcoins in escrows account first before you pay them money. Then send proof of payment to escrow agent and then you will get your bitcoins.
Do small transactions first to see if someone can be trusted or not.

[guybrushthreepwood]

Ok, so I got a PM from journeytodogecoin:

(No subject)
« Sent to: 2bfree on: January 08, 2014, 09:38:02 PM »
« You have forwarded or responded to this message. »
Reply with quoteQuote  ReplyReply  Remove this messageDelete 
if u need btc equavalent to your mp i sure can help you


then:

Re: (No subject)
« Sent to: 2bfree on: January 08, 2014, 10:53:10 PM »
« You have forwarded or responded to this message. »
Reply with quoteQuote  ReplyReply  Remove this messageDelete 
u have skype so our talk can be faster? if so what is it? or email..

we got on skype:

I sent the MoneyPak it's been 4 days I didn't get the bitcoins he says it's because the transaction is to small can't make to my wallet I said yesterday I want the bitcoins by the end of the day or the dollars back now he doesn't respond.

Any ideas what I can do or it's just a price to pay for my ignorance of not nowing to use escrow?

Why is it so hard to get bit coins and also last night a guy from Costa Ricka tried the same scan me send first he will send later and just hung up when i said I was scam.

What is going on here?

You've been scammed. Don't deal with newbs and use escrow.

[hilariousandco]

we got on skype:

I sent the MoneyPak it's been 4 days I didn't get the bitcoins he says it's because the transaction is to small can't make to my wallet I said yesterday I want the bitcoins by the end of the day or the dollars back now he doesn't respond.

Any ideas what I can do or it's just a price to pay for my ignorance of not nowing to use escrow?

It's the price you pay unfortunately. Just be thankful it was only $20 and learn from your mistakes. Never send first or use escrow.