Escrow my Bits

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An escrow service that allows safe trading by securely holding buyer's funds in escrow until the terms of the sale or services are met. Users can also select a judge, or allow Escrow my Bits to act as the judge. In the case of any dispute the judge can rule in favor of the buyer, seller, 50/50 split, or a custom split.

Fees

The service charges a 1% escrow fee which includes potential dispute resolution.

Types of Escrow

Escrow my Bits offers 4 different types of escrow transactions:

  1. Regular escrow
    • Funds are securely by Escrow my Bits
  2. Regular escrow with a pegged exchange rate
    • Funds are held in a Coinapult multi-signature address in an account that Escrow my Bits controls
    • Can choose from any currency Coinapult supports
  3. Multi-signature escrow
    • Funds are held in a 2 of 3 multi-signature address where each party controls one key(Buyer, seller, Escrow my Bits)
  4. Multi-signature pegged escrow
    • Funds are held in a 2 of 3 multi-signature address where each party controls one key(Buyer, seller, Escrow my Bits)
    • Funds can be pegged to fiat values using Nubits

History

The site was launched on Septemeber 17th, 2014[1].

See Also

External Links

References

  1. - Escrow my Bits Bitcointalk forum post