Post
Topic
Board Computer hardware
Re: What is escrow and how does it work?
by
vickersja
on 23/03/2020, 23:29:42 UTC
those that provide the escrow services are those individuals that have been here for quite some time, who have been involved in deals/trades/sales and have always shown themselves to be trustworthy.

I am one of the newer individuals offering escrow services and I also have 100% positive ratings (as do the other escrow providers) I hope to escrow more dealings and increase that trust as well.

The fee paid for escrow will ultimately be quite a bit cheaper than the fees you pay for eBay - that and most often the buyer pays the escrow fees.

Let me know if I can be of service if you do bring those over here to the forums to sell Smiley

Thanks.  So I see the fees are usually set by the person offering the escrow service and payable by the buyer.  True?

Also, is PayPal a standard method of payment?  I don't yet have an ample supply of Bitcoin and want to hold as much as I can for the rebound.

yes - the fees are set by the escrow service - and typical for the buyer to pay - unless seller offers to pay - has happened but more often to not it is the buyer that pays it.  My fee is 1%

and typically no, the payment is not with paypal. to do so would mean the escrow would have to pay 2.9% fee and then the seller would also pay a 2.9% fee - If i recall, 2.9% is the paypal fee for receiving funds.


as the seller, you would not be paying though - but if you were the buyer, you could always just use the USD in your paypal account to buy btc to make a purchase without touching what you are hodl'ing.



Makes perfect sense.  Thank you.