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How escrow trading services works in cryptocurrency exchange platform?
In the business environment, an escrow is a form of a financial agreement between two parties. Who is in control of holding and regulating the funds for payment in the transaction.
How Escrow's Play a Vital Role In Bitcoin Escrow Platforms?
In bitcoin exchange industries, they transact a large amount of money to seller from buyer accepting some term or condition in the bitcoin exchange website.
While the is a problem in the transaction within a period. The escrow will take a responsibility to complete the transaction without any pitfalls.
Eg: If you trade in localbitcoins the new user will be registered on the website. The new user is seller he/she must deposit their bitcoin in an escrow wallet. After receiving payment from the buyer, the seller can click release button automatically the bitcoin will be sent to the buyer wallet the whole process will take in 1 hour.
When the buyer does not receive bitcoin in his wallet.He/she can raise dispute resolution to call the escrow to solve the problem between buyer and seller.
A Bitcoin escrow service is one of the most reliable ways of dealing with Bitcoin-based transactions in any exchange platform.
How you can start a bitcoin escrow based crypto exchange platform?
Sellbitbuy is a cryptocurrency exchange development company they can build many types of trading exchange websites based on escrow, smart contract, perpetual contract, etc...
If you want to know more information about escrow trading script features and working model.
