How Will You Choose The Best Bitcoin Escrow Services?

by Bruno Marcoux 3 months ago in bitcoin

Escrow payment systems have become a popular payment method in the dark web, and there are scam platforms that take advantage. Here are specific parameters that will safeguard you from scams.

How Will You Choose The Best Bitcoin Escrow Services?
Bitcoin Escrow Services

Bitcoin Escrow Services have started to see mass adoption since its pros are known by more and more people globally. Now they are used quite frequently by the darknet cybercriminal forums. Several Bitcoin Escrow platforms have come forward to make the payments easier for both the buyers and the vendors. Apart from that, the person of the escrow known as a “guarantor” is also responsible for sorting out any disputes that may occur. To find out which escrow platforms would be the most suitable, you need to check specific parameters. In this article, we are about to stress on those parameters.

Choosing The Best Bitcoin Escrow Service Based on Parameters

Here are all the parameters that you should consider before you jump into availing their escrow payment method:

Company Age :

The age of the company plays a prime factor as the older a company will be the minimum will be the chances of getting duped. But for the ill-intended companies, age would not be a restriction.

Service Category :

Before availing an escrow service, you need to check the service category and verify escrow for the products and the services offered. Not all of the cryptocurrency escrow services allow the trading of all items.

Support :

The support parameter bears extreme importance. You would require to choose help from the support in case there is any dispute or you need an answer to your query. Prior to availing the services, make sure of their support availability and response time. You may send a message or email to confirm.

Fee / Service Charge :

Check for the fee and make sure it is affordable to you. It makes no sense jumping into availing the Crypto escrow payment services and finding out about the high escrow service charges later.

Money Return Policy :

The refund policy of an escrow company must be checked beforehand as you do in any other online shopping platforms. Note down whether they offer a full refund or partial refund and if they charge anything against a refund.

User Reviews :

The user reviews will provide you with a clearer picture of the escrow payment system. You can learn of any scam that they might have had done earlier. Go through the reviews in various forums and websites and decide for yourself.

Escrow Guidelines & Privacy :

While you are dealing in cryptocurrencies of any sort, your primary lookout would be anonymity. Make sure if the platform requires any documents or provide privacy. If they ask for documents, stay away from them.

These are the seven basic parameters that would help you to determine whether to go for your chosen Bitcoin Escrow system. You may consider the other parameters if you feel the need. All your financial actions are your sole responsibility, and we are not responsible for any mishap that you may have caused otherwise.

Top Three Escrow Service Providers For The Darknet Marketplaces

There are a handful of escrow service providers that enable you to carry on your trade-in the dark web markets. Unlike others, you would choose the best one of all, where most claim to be the one. Here is a list of top three of them that would give you satisfactory results.

  • DarkLocker

DarkLocker is truly dedicated to darknet trades and the fee for facilitating the escrow trades is just 1% of the total transaction amount. Either party can choose to pay the fee while they can also settle for 50-50. All the details are verifiable by either party. The funds can be locked using the “Locker Code” and they also issue refunds (minus the fee).

  • Escrow My Bits

It is a Bitcoin escrow system offering multiple types of escrow. Apart from the regular escrow, you get the option of “Regular Escrow pegged to Traditional value”, Multisignature Regular Escrow (Regular Escrow + Multisignature) and “Multisig Escrow pegged to a Fiat value”. The registration is anonymous and the fee is 1%. They also provide cold storage.

  • MonBux

Another escrow service provider that charges a 1% transaction fee. It offers PGP verification, while the user reviews and comments are posted by the legitimate and reputed users.

The escrow system maintains a step by step timeline, making transaction speculations absolutely free. The transaction parties get the opportunities to track the movement of the funds alongside the contractual commitments. Both the buyers’ funds and sellers offerings are in secure hands as the escrows are run by the diligent professionals. The escrow accounts aids in the minimization of frauds.

Bruno Marcoux
Bruno Marcoux
Read next: Top 5 Advantages of Blockchain Technology
Bruno Marcoux

Bruno Marcoux is a dark web enthusiast specializing in cryptocurrency, blockchain, privacy, law enforcement and more. He has been in the field for a good long time and thus has a stronghold of the occurrences of the Dark Web Links.

See all posts by Bruno Marcoux