Escrow explained

[demure]

Escrow explained

There is a popular procedure named «Escrow» on this forum. Especially its oftenly used in a Marketplace section.

Escrow is a commonly used anti fraud mechanism which idea is to invite a neutral 3rd person to be a holder of crypto payment till each participant of the deal will not be satisfied with its completion.

Let’s imagine that somebody wants to order a digital portrait for 0.3BTC from a digital artist accepting bitcoins as payment for his work.

If both sides will agree on a deal without escrow, there are a few risks involved:

1. If costumer will send payment to an artist before portrait completion he can lost his money since artist can just left his job undone without money returning.

2. Also customer can be totally unsatisfied with the quality of portrait he finally get.

3. If artist will agree to do a drawing job without prepayment he risking to be unpaid after job completion.

4. Also artist can be partially unpaid if costumer will change his mind and cancel the order while it will partially completed.

If both sides will choose to use an escrow agent then risks described above will excluded.

1. Before starting both sides should prepare detailed description of what and how should be done. The much details the better. In portrait case it could be parameters like portrait orientation, color scheme, drawing style, examples of other portraits, realizing time and so on.

2. When description will done and approved by the buyer and seller it should be sent to an escrow agent they have chosen. Escrow agent will read the description and if he will not have any remarks then the buyer will deposit payment to an escrow’s wallet.

3. After job will be finished and both sides will agree on payment realizing the escrow agent will send money to seller. Or if any side of a deal will not satisfied with its completion then the middleman will solve a dispute by returning money to buyer, prolonging job, sending money to sender or anything else basis on individual situation.

Therefore you should always use Escrow Service before buying or selling anything on bitcointalk. You should also choose a reputable and popular escrow agent for holding your money. Some of them you can find in a list below:

List of actual escrow services:

Username - - - - | Thread | - - - - Fee

OgNasty | Escrow thread | Fee is 1%

DarkStar_ | Escrow thread | Fee is 0.7% or 0.0005 BTC

DevawnM367 | Escrow thread | Fee is individual

yogg | Escrow thread | Fee is 1%

TookDk | Escrow thread | Fee is 1% or Free*

Bl4nkcode | Escrow thread | Fee is 1-2%

SebastianJu | Escrow thread | Free

krogothmanhattan | Escrow thread | Fee is 1%

[CryptopreneurBrainboss]

Still, irrespective of how it's recommended to employ the service of an escrow when transacting on the forum, you should be very cautious when choosing the escrow to use. If you get a suggestion from the other party, make sure it's a very trusted individual with no history of untrustworthy behavior before you accept to use his service.

Cautiously, any user without a previous record of escrow services or have not carried out countless amount bof successful transaction involving funds to be deem worthy, shouldn't be trusted. Here's a complete list of escrows on the forum: Few Trusted Escrow Provider, choose wisely.

[demure]

Still, irrespective of how it's recommended to employ the service of an escrow when transacting on the forum, you should be very cautious when choosing the escrow to use. If you get a suggestion from the other party, make sure it's a very trusted individual with no history of untrustworthy behavior before you accept to use his service.

Cautiously, any user without a previous record of escrow services or have not carried out countless nof successful transaction involving funds to be deem worthy, shouldn't be trusted. Here's a complete list of escrows on the forum: Few Trusted Escrow Provider

Thank you for your comment. Main idea of this thread is to explain for newbies what is escrow in simple words. This thread is not a list of actual escrow services. However, I want to notice that link you provided contains not completed list of escrow services. I don't see escrow services from DevawnM367 and Tookdk. So my list is not full but also useful.

[nakamura12]

Nicely explain about how escrow works but using escrow have disadvantages and advantages for the buyer and seller. I'll just provide one of each. Disadvantage of using escrow is you (buyer) and other person (seller) might get scammed by the escrow and get away with it if the escrow is cannot be trusted. Advantage of using escrow when the escrow can Be trusted is that there will be no scam will happen between the buyer and the seller.

[LTU_btc]

Nicely explain about how escrow works but using escrow have disadvantages and advantages for the buyer and seller. I'll just provide one of each. Disadvantage of using escrow is you (buyer) and other person (seller) might get scammed by the escrow and get away with it if the escrow is cannot be trusted. Advantage of using escrow when the escrow can Be trusted is that there will be no scam will happen between the buyer and the seller.

I don't see any disadvantages to use escrow. You said that escrow agent can scam and run away with money. Do you think it's likely to happen? We have lot of trusted escrow service providers here who have escrowed thousand of BTC in total, do you really think that they can scam customers? Obviously, you should avoid wanna be escrow providers without any reputation and trading history.

[mikeywith]

With all due respect to everyone in your escrow list, I think it should be revised !  for example Devawnm367 is relatively a new member with little to probably no escrow history , I don't have anything against him but I still believe that it takes a lot more than that to actually attempt to provide your escrow service.

Here is a list of members whom I would trust with escrow, I did deal with some of them.

OgNasty
DarkStar_
philipma1957
Hhampuz
TECSHARE (Not the most friendly    escrow agent, but surely , he is trustworthy)

I am not sure if all members in the list still offer their escrow services, so make sure you ask.

There are a few other members whom I would trust with funds, but they don't provide any escrow services.

 

[GreatArkansas]

I haven't yet tried to use some escrow services here in the forum, but I did it before outside of the forum and I also tried to become the escrow.

I'll add some additional list of recommended Escrow Services:
Much better if you contact those account via PM and be careful on some fake profile that will contact you outside the forum, especially in telegram.
Visit here :  Recommended bitcointalk escrow services.

[TECSHARE]

I am nothing but amicable with those who trade with me. I treat every one of my customers with respect and kindness unless they give me a good reason to do otherwise. PM anyone who has left me a trust rating and ask for yourself. The poster above is simply attempting to sooth their own butt hurt over disagreements totally unrelated to trade. Furthermore you seemed rather satisfied with my service.

"mikeywith   2019-05-03      used his escrow service for a trade, he was patient ,professional and most importantly trustworthy. "

What kind of escrow do you want, a pushover who acts nice, or an escrow who will do what is right no mater who it is throwing a fit?

[mikeywith]

. The poster above is simply attempting to sooth their own butt hurt over disagreements totally unrelated to trade.

It is soothe , and it is only sooth in your brain, i have nothing against you , proof is , i included your name in the list of escrow, i could have simply ignored your name.

I gave my honest review , you are trustworthy but you are not a nice person in general, I would use your service again only if i had no other option, being nice is a bonus you know !

[TECSHARE]

. The poster above is simply attempting to sooth their own butt hurt over disagreements totally unrelated to trade.

It is soothe , and it is only sooth in your brain, i have nothing against you , proof is , i included your name in the list of escrow, i could have simply ignored your name.

I gave my honest review , you are trustworthy but you are not a nice person in general, I would use your service again only if i had no other option, being nice is a bonus you know !

I am a nice person to nice people. When people act like a smarmy smart ass that is what they get right back. That is the beauty of using p2p currency, if some one is out of line I have the freedom to tell them to take a flying fuck. If I wanted to cater to entitled aholes I would sell on eBay.

[Steamtyme]

Nice explanation of escrow. I can't think of many times since I've been here where a dispute has arisen, mostly scammers bailing mid deal when they realize they won't receive anything. It's not an easy gig to get into for a small percentage but it's a valuable service offered here. If I might suggest you add these lists that exist on forum of the escrows.
Recommended bitcointalk escrow services
⛓LIST⛓ BitcoinTalk's Escrow Providers: Ranking & Blacklist ☠ Avoid Scammers ☠

[OgNasty]

I've escrowed a few thousand BTC worth of trades here.  Might be worth adding to the list.

https://bitcointalk.org/index.php?topic=303281.0

[Vod]

I am nothing but amicable with those who trade with me. I treat every one of my customers with respect and kindness unless they give me a good reason to do otherwise.

Since so many people seem suddenly to give this goof a good reason to be disrespectful to you, I would avoid this profile and work with the many others who will as good of a job (it's not difficult lol) without the shitty attitude TECHshare gives off.

The follow profiles should should still be "safe" for escrow trades.

DarkStar_
philipma1957
Hhampuz

(I would not recommend using OGNasty as his fees are high and he does not report his business to the government.  He is trying to promote bitcoin as a "charity" currency that can save you thousands in stupid useless government taxes.  )

[TECSHARE]

I am nothing but amicable with those who trade with me. I treat every one of my customers with respect and kindness unless they give me a good reason to do otherwise.

Since so many people seem suddenly to give this goof a good reason to be disrespectful to you, I would avoid this profile and work with the many others who will as good of a job (it's not difficult lol) without the shitty attitude TECHshare gives off.

The follow profiles should should still be "safe" for escrow trades.

DarkStar_
philipma1957
Hhampuz

(I would not recommend using OGNasty as his fees are high and he does not report his business to the government.  He is trying to promote bitcoin as a "charity" currency that can save you thousands in stupid useless government taxes.   )

I would recommend OGNasty as an escrow. Speaking of people giving me a reason... Unlike Vod, I am guaranteed not to report you to the IRS because you criticize me.

[Steamtyme]

How about we don't turn this informative thread into a shit slinging pile like so many others on the forum. Go to the respective services thread, or use the feedback system to rate users. Better yet if you've already said the same thing numerous times before, then let it go.

The purpose here is to explain what can be seen as a foreign concept to many, but is business as usual here.

OP I was thinking you may want to add a section about choosing an escrow, and how to perform due diligance. Like verifying signatures, checking feedback.

[TECSHARE]

How about we don't turn this informative thread into a shit slinging pile like so many others on the forum. Go to the respective services thread, or use the feedback system to rate users. Better yet if you've already said the same thing numerous times before, then let it go.

The purpose here is to explain what can be seen as a foreign concept to many, but is business as usual here.

OP I was thinking you may want to add a section about choosing an escrow, and how to perform due diligance. Like verifying signatures, checking feedback.

That would be great, but unfortunately I can't prevent this mentally ill stalker from following me around and slinging shit. Unlike him I had a valid reason to chime in here as I was directly mentioned.

[bakasabo]

OP, could you please add KROGOTHMANHATTAN ESCROW SERVICE to your list?

This forum member has good green reputation on the forum and is a professional of his work.

His fee is only 1%

[Velkro]

Escrow should be way way way more popular especially in crypto world where chargebacks are non existent.
Be vigilant, take precautions, small fee is nothing for beign satisfied with the job.
Great topic btw

[demure]

Updated list with a few escrows mentioned in above messages.

[Little Mouse]

DevawnM367 | Escrow thread | Fee is individual

Devawnm367 is very new in escrow service and there is no experience of escrow I can see. Why did you add him? There are a lot of people who have experience and have been trusted with fund a lot of times, list them. This is not good at all that you have listed a new person on this service.