Last Update 6 months ago
What is Escrow?
An escrow is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in a secure escrow account which is only released when all of the terms of an agreement are met as overseen by the escrow company. Escrows are very useful in the case of a transaction where a large digital cryptocurrency is involved and a certain number of obligations need to be fulfilled before the currency is released like in the case of a Bitcoin, where the seller want a confirmation of a full fiat payment, and the seller doesn’t want to extend a massive amount of work without any assurance that he or she will receive payment. While traditional escrow service is quite difficult and must be obtained through banks and lawyers, We provide online escrow services at affordable rates. While the payment is 'In Escrow', the transaction can be safely carried out without risk of losing money or merchandise due to fraud. This eliminates all legal jargon and allows a secure transactions and confident between buyers and sellers.
How Does My Coin Escrow Work?
We reduce the risk of fraud by acting as a trusted third-party that collects, holds and only disburses funds when both Buyers and Sellers are satisfied.
Buyer and seller agree to terms - Either the Buyer or Seller begins a transaction.