How do Escrow (especially Bitcoin) services work?
It doesn't make sense.
For example: You send your coins into a secure Escrow service, the seller sends what exactly into his escrow service?
That's the part I don't understand. Can't the seller just sell a dummy product or whatnot?
I am new to Escrow so please explain this to me.
How safe are Bitcoin Escrows? Walk me through the process
- deboerdn2000Lv 75 months ago
well an escrow server basically holds your money until certain conditions are met. so for an online transaction you could transfer to an escrow service which would hold it until you got your merchandise and made sure it was good before they release the money to the seller and if its not good they just simply send the money back to you. as for whether its safe for you is up to you to decide and do all the research for it.