In the crypto market many crypto coins are showing up, but Bitcoin holds most important and strong position in crypto marketplace. Every crypto enthusiast knows that Bitcoin is top in crypto market and was the first cryptocurrency developed using blockchain technology. Everyday crypto users are trading their crypto-currencies, but there will be a middle man taking part in every transaction unless they are private coin.
Escrow is commonly known as third party. As it holds the cryptocurrencies till the buyer and seller come to terms with the contract. So many crypto entrepreneurs wanting to develop their trading platform with strong escrow security using cryptocurrency escrow script.
In this article you can have a clear idea about the cryptocurrency escrow system, how it works, its benefits and all.
What is Cryptocurrency Escrow Script?
Cryptocurrency Escrow Script is a pre-build crypto exchange script that is used to create highly secured p2p crypto trading platform and are build by using advanced programming languages like PHP, MEAN, MERN and JavaScript. To protect the transactions on crypto exchange platform, escrow acts as a security shield, so the buyers and sellers can trade without any fear of hacking.
Benefits of Cryptocurrency Escrow Script
In escrow script the seller can have their cryptocurrency only when the buyer is happy with the transaction. So there is no elimination risk.
The escrow system adds credibility by offering strong protection to both buyers and sellers.
When any dispute occurs because of transaction between buyer and seller escrow act as a problem solver to resolve them.
We all know bitcoin transaction is permanent as once the money is out of the wallet you cannot undo it. But using cryptocurrency escrow script, if the user is not satisfied with the product, they can claim them back.
Working process of Cryptocurrency Escrow Script
Buyer and seller come to an agreement
First the user has to register an account on the platform. Then the buyer and seller must agree to all those terms and conditions listed and they cannot escape from any part of the agreement.
Seller to Escrow
The Escrow will hold the bitcoin, when the seller sends them to escrow wallet.
Buyer to Escrow
Then the buyers can pay with any payments methods with escrow system. Then the escrow checks and sends notifications that their money is safe in escrow account to the seller.
Verification process
After escrow verifies them, the seller will check the payment information and submits them. Then the seller will tell escrow to release the money.
Problem solver
If any dispute occurs during the trading process, the escrow will give productive solution to solve them.
Escrow pays the seller
When the buyer is satisfied with the product, escrow will pay fund to the seller from escrow account.
This is how transactions are made between buyers and sellers using escrow security in cryptocurrency escrow script.
Why SellBitBuy is best for your Cryptocurrency Escrow Script?
There are many crypto exchange development company out there, but Sellbitbuy is best and most trustworthy company that provides extraordinary cryptocurrency escrow script with robust escrow system for your trading business. So share your crypto business ideas and get a instant free demo of cryptocurrency escrow script from us.
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