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A Bitcoins Escrow service is a third-party website/platform which you can use to securely conduct Bitcoin transactions. Here are the 5 most trusted escrow services for 2021.
A Bitcoins Escrow service is a third-party website/platform which you can use to securely conduct Bitcoin transactions. You send your Bitcoins not to the seller, but to this Bitcoins Escrow, and only after you’ve received the product you’re purchasing the Crypto escrow service releases your payment to the seller.
Note that it’s important for you to first confirm that the seller you’re buying from, accepts Escrow. Not all sellers are as liberal and in those cases you can’t use an Escrow, or you’ve got to find a seller who does.
Example of Bitcoin Escrow Services
Probitescrow.com
Website: https://escrow.counos.com/
Counos is one of the best Bitcoin Escrows because its legal and licensed. Being so, it can’t be used for illegal trades unlike other crypto escrow services such as Dark Locker.
The interface is completely automated. It requires you to sign up > create contract > print and sign the contract > upload it.
The user-profiles too are rated depending on their previous transaction history.
There are three types of fees involved, the transaction fee which is obvious. However, it’s fixed at 0.00048 BTC /transaction.
Then there’s the service fee which is 0.05% and has to be a minimum of 0.00011 BTC. And, there’s another agent-fee which depends on the escrow agent you’ve chosen.
The wallets are multisig which further enforce security.
It also allows creating “Milestones”, or basically EMIs. The payment can be made in parts. Milestones can be set, and the payment is only due after a certain milestone is completed.
The company does have a live-chat feature but it’s not always online. It says anyone can become an Escrow-agent after amassing enough repute.
However, this also means that not all Escrow agents can be trusted. Either way, despite the license and clearnet guarantee, proceed at your own risk.
• BitRated
Website: https://www.bitrated.com/
Bitrated has a very different working infrastructure as compared to the other Bitcoin Escrow services discussed so far. For starters, it lets users create a profile and build reputation using user reviews, a web of trust and online presence which includes Reddit Karma, Twitter followers and Stackoverflow rep.
It doesn’t exactly have an Escrow, rather the “trust agents” are responsible for tipping the Transaction in favor or against of any specific party.
It’s also free from its end, although the trust agents may charge money, “may” being the keyword here. Currently, it supports Bitcoin and Bitcoin Testnet as the currencies.
• ProBitEscrow
Website: https://www.probitescrow.com
ProBitEscrow is a Bitcoin Escrow platform/site which lets users use their Escrow service for secure transactions on the web; the company has been there since 2017 racking up 3 years of experience today. Since 2020 it is supports close 12 different cryptocurrencies.
ProBitEscrow do not require any registration; although they specify that user’s data will not be shared out of their database.
ProBitEscrow offers extensive control on the Escrow settings; users get to select their role, choose the amount in BTC(cryptocurrency) for the transaction is being done in BTC and specify the name and E-mail addresses of the two parties.
ProBitEscrow is one of the very few Bitcoin escrow services which lets the Escrow-creator (the one setting up the Escrow page) choose from the following fee-structures for the transaction:
• 50%-50% split between the buyer and the seller.
• 0% Buyer- 100% Seller.
• 25% Buyer- 75% seller.
• 75% Seller- 25% Buyer.
• 100% Buyer- 0% Seller.
The Escrow-creator also gets to manually set the number of days; until which if the item isn’t received the funds are sent back to the buyer. Auto-release date of funds too can be set by the Escrow-creator which is when the funds are automatically released to the seller requiring no action from the buyer.
Bottom-line; arguably it’s the most liberal Bitcoin escrow service in 2020 which supports many crptocurrencies and lets the users control nearly all the aspects of the transaction and nothing is fixed from the platform’s end.
Service Category – Before selecting an Escrow service, verify that it offers escrow for the products/services you’re about to deal in. Not all Crypto escrow services facilitate the trading of everything.
Support – Extremely important. When a dispute arises, or you have a simple question, you’ll need support. Verify the modes of support available, and their response times (by sending an E-mail/ message).
Fee – Extremely cheap escrow services may not be very responsible, extremely high-priced services are just impractical. Just ensure you know what the fee is, and that you can afford it.
Previous User Reviews* – Bitcoin Escrow is one of the ripest scam-opportunities. Hence, make sure you read reviews about the company on forums and other websites.
Age of the company– How old is the company? That’s important because older companies have less chances of being scams.
Money Return Policy – Always verify the refund policy of an Escrow company. Does it return your money in full? A partial refund maybe? How much is charged in case of a refund?
Privacy and Escrow Guidelines – If you’re dealing in Cryptocurrencies, you clearly need anonymity, don’t you? Verify that the company doesn’t require documents, and/or respects user-privacy and anonymity.
5 Bitcoin Escrow Services 2020
The mention of the companies below isn’t an endorsement or review for them. We aren’t sure of their “legitimacy” and all your financial actions should be your own responsibility.
https://www.bitrated.com/ **** https://bitcoin-escrow.co ****
https://escrow.counos.com/ **** https://www.probitescrow.com*****
• ProBitEscrow
Website: https://www.probitescrow.com
ProBitEscrow is a Bitcoin Escrow site which lets users use their Escrow service for secure transactions on the web; the company has been here since 2017 racking up 3 years of experience today. Since 2020 it is support close 12 different cryptocurrencies.
ProBitEscrow do not require any registration; although they specify that user’s data will not be shared out of their database.
ProBitEscrow offers extensive control on the Escrow settings; users get to select their role, choose the amount in BTC(cryptocurrency) for the transaction is being done in BTC and specify the name and E-mail addresses of the two parties.
ProBitEscrow is one of the very few Bitcoin escrow services which lets the Escrow-creator (the one setting up the Escrow page) choose from the following fee-structures for the transaction:
• 50%-50% split between the buyer and the seller.
• 0% Buyer- 100% Seller.
• 25% Buyer- 75% seller.
• 75% Seller- 25% Buyer.
• 100% Buyer- 0% Seller.
The Escrow-creator also gets to manually set the number of days; until which if the item isn’t received the funds are sent back to the buyer. Auto-release date of funds too can be set by the Escrow-creator which is when the funds are automatically released to the seller requiring no action from the buyer.
Bottom-line; arguably it’s the most liberal Bitcoin escrow service in 2020 which supports many crptocurrencies and lets the users control nearly all the aspects of the transaction and nothing is fixed from the platform’s end.
Service Category – Before selecting an Escrow service, verify that it offers escrow for the products/services you’re about to deal in. Not all Crypto escrow services facilitate the trading of everything.
Support – Extremely important. When a dispute arises, or you have a simple question, you’ll need support. Verify the modes of support available, and their response times (by sending an E-mail/ message).
Fee – Extremely cheap escrow services may not be very responsible, extremely high-priced services are just impractical. Just ensure you know what the fee is, and that you can afford it.
Previous User Reviews* – Bitcoin Escrow is one of the ripest scam-opportunities. Hence, make sure you read reviews about the company on forums and other websites.
Age of the company– How old is the company? That’s important because older companies have less chances of being scams.
Money Return Policy – Always verify the refund policy of an Escrow company. Does it return your money in full? A partial refund maybe? How much is charged in case of a refund?
Privacy and Escrow Guidelines – If you’re dealing in Cryptocurrencies, you clearly need anonymity, don’t you? Verify that the company doesn’t require documents, and/or respects user-privacy and anonymity.
• ProBitEscrow
Website: https://www.probitescrow.com
ProBitEscrow is a Bitcoin Escrow site which lets users use their Escrow service for secure transactions on the web; the company has been here since 2017 racking up 3 years of experience today. Since 2020 it is support close 12 different cryptocurrencies.
ProBitEscrow do not require any registration; although they specify that user’s data will not be shared out of their database.
ProBitEscrow offers extensive control on the Escrow settings; users get to select their role, choose the amount in BTC(cryptocurrency) for the transaction is being done in BTC and specify the name and E-mail addresses of the two parties.
ProBitEscrow is one of the very few Bitcoin escrow services which lets the Escrow-creator (the one setting up the Escrow page) choose from the following fee-structures for the transaction:
• 50%-50% split between the buyer and the seller.
• 0% Buyer- 100% Seller.
• 25% Buyer- 75% seller.
• 75% Seller- 25% Buyer.
• 100% Buyer- 0% Seller.
The Escrow-creator also gets to manually set the number of days; until which if the item isn’t received the funds are sent back to the buyer. Auto-release date of funds too can be set by the Escrow-creator which is when the funds are automatically released to the seller requiring no action from the buyer.
Bottom-line; arguably it’s the most liberal Bitcoin escrow service in 2020 which supports many crptocurrencies and lets the users control nearly all the aspects of the transaction and nothing is fixed from the platform’s end.
Bitcoins Escrow services have recently seen a boosted interest among people, thanks to the recent Bitcoin exponential growth. Because Bitcoin is anonymous, untraceable to quite an extent and not exactly refundable, it also lacks the trust required for a transaction to go through smoothly between two parties.
What is a Bitcoins Escrow services?
A Bitcoins Escrow service is a third-party website/platform which you can use to securely conduct Bitcoin transactions. You send your Bitcoins not to the seller, but to this Bitcoins Escrow, and only after you’ve received the product you’re purchasing the Crypto escrow service releases your payment to the seller.
Note that it’s important for you to first confirm that the seller you’re buying from, accepts Escrow. Not all sellers are as liberal and in those cases you can’t use an Escrow, or you’ve got to find a seller who does.
How to Choose Best Escrow Services for Your Deals
Service Category – Before selecting an Escrow service, verify that it offers escrow for the products/services you’re about to deal in. Not all Crypto escrow services facilitate the trading of everything.
Support – Extremely important. When a dispute arises, or you have a simple question, you’ll need support. Verify the modes of support available, and their response times (by sending an E-mail/ message).
Fee – Extremely cheap escrow services may not be very responsible, extremely high-priced services are just impractical. Just ensure you know what the fee is, and that you can afford it.
Previous User Reviews* – Bitcoin Escrow is one of the ripest scam-opportunities. Hence, make sure you read reviews about the company on forums and other websites.
Age of the company– How old is the company? That’s important because older companies have less chances of being scams.
Money Return Policy – Always verify the refund policy of an Escrow company. Does it return your money in full? A partial refund maybe? How much is charged in case of a refund?
Privacy and Escrow Guidelines – If you’re dealing in Cryptocurrencies, you clearly need anonymity, don’t you? Verify that the company doesn’t require documents, and/or respects user-privacy and anonymity.
5 Bitcoin Escrow Services 2020
The mention of the companies below isn’t an endorsement or review for them. We aren’t sure of their “legitimacy” and all your financial actions should be your own responsibility.
https://www.bitrated.com/ **** https://bitcoin-escrow.co ****
https://escrow.counos.com/ **** https://www.probitescrow.com*****
