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21 Best Bitcoin Escrow Service Providers You Need To Know
Last updated : June 19, 2024
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21 Best Bitcoin Escrow Service Providers You Need To Know

 

Due to Bitcoin's recent exponential expansion, escrow services that handle Bitcoin (BTC) have recently witnessed an uptick in interest. The confidence necessary for a transaction to go through successfully between two parties is also lacking with Bitcoin due to its anonymity, lack of traceability, and lack of reversibility.

Since the transaction was unlawful, you cannot take legal action if the other party fails to execute its obligations. Furthermore, a Bitcoin escrow service is a lifesaver because transactions are permanent.

 

 

 

Top 21 Best Bitcoin Escrow Service Providers

 

Take a close look at the escrow services involving Bitcoin.

 

Global Escrow

 

Global Escrow is a Singapore-based Bitcoin escrow service. When dealing with tangible goods, it asks for tracking information. Alternatively, you can verify the successful transfer of the assured products using an interface. 

The buyer must approve the products or services within 15 days of the auto-refund period, during which the merchant must furnish them.

 

Escrow My Bits

 

Regarding crypto escrow services, Escrow My Bits is among the better options. In a multisig environment, the release of coins is contingent upon the approval of every required signature. 

The membership process is completely anonymous, and the fee for Escrow My Bits is 1% as well. They also provide cold storage to ensure the safety of your coins.

 

BitRate

 

Bitrate is a combination of sig and bitcoin escrow services. Furthermore, activating the cryptocurrency transfer requires a specific quantity of signatures. For a shared wallet transaction to go through, most users must confirm it. 

Bitrate is an online marketplace where buyers and sellers can work with third-party arbitrators to finalise transactions. There are three Bitcoin escrow multisig wallet owners, and two must sign for transactions to go through.

 

Best Bro Bits

 

Launched in 2019, it's a relatively new Bitcoin (BTC) escrow business. Additionally, the interface has a sophisticated, modern appearance. Be aware that it is somewhat pricey; put another way, it works best for high-end purchases. 

On all transactions, there is a substantial 5% fee. The $500.00 minimum charge is the issue. Manual dispute settlement is supposedly fair and grounded in proof or evidence. There is no need to register.

 

MultiEscrow

 

A simple darknet escrow company, it is anonymous and does not require personally identifiable information. It's acceptable if the website charges a 2% escrow fee. You can manually choose the escrow term as well. 

Thirty-one days is the maximum duration that is possible. After the money is deposited, automated emails are sent to the buyers' and sellers' email addresses. Needs no registration at all.

 

BTC Asia

 

One of the rare Bitcoin escrow businesses that doesn't require registration is this one. All it takes to initiate an escrow transaction is an email address and a Bitcoin address. The fee, which is only 0.05% of the trade, is also less than the other escrows mentioned above! When disagreements occur, a neutral third party resolves them instead of the BTC Asia team. 

The software offers a "transaction ID" that allows users to trace each step of the process, which is visible. Additionally, they offer a $500 USD guarantee, applicable in specific circumstances such as server theft or hacking, errors made by them, etc. 

Despite appearing to be run by a single individual, the website has been highlighted by Coindesk Business Talk and has a highly credible LocalBitcoins profile.

 

IBC Group

 

IBC Group, short for "International Blockchain Consulting Group," is mainly an incubator platform for Web3 projects; it assists blockchain firms in launching their businesses and raises capital through various token sales. 

IBC also provides a popular crypto escrow service that uses smart contracts to mediate transactions between buyers and sellers.

 

Binance P2P

 

Among the many peer-to-peer crypto markets, Binance P2P ranks high in popularity and allows people from around the globe to purchase, sell, and exchange cryptocurrencies directly with one another. 

The purpose of the escrow mechanism is to forestall fraud, theft, and other mishaps. It happens automatically every time you purchase or sell cryptocurrency on Binance P2P.

 

Paxful

 

You can trade Bitcoin, USD Coin, and Tether on Paxful, a peer-to-peer cryptocurrency marketplace. It works with e-wallets, gift cards, cash, and bank transfers. 

Customers can also use services and goods such as Amazon Wishlist, in-game currency, and gold to complete their purchases.

 

ItBit Escrow

 

"Trust" is what ItBit Escrow screams—we offer you the greatest Bitcoin escrow services you can rely on. It is an organisation with FDIC-insured money under regulation by the New York State Trust Companies. 

Even though it is a reputable escrow firm with government authorization, it requires the user's first and last name and email address. 

ItBit is a good choice if you purchase high-end merchandise (cars, luxury watches, clothes) and need fiat-level trust with cryptocurrency. It should be noted that this process is not automatic and requires filling out a form. Following that, follow-up emails are sent to initiate the escrow.

 

Coinsavr

 

Based in Canada, Coinsavr has been offering Bitcoin escrow service since 2018 (as stated on their Twitter profile). Any escrow transactions will be a breeze with their intuitive user interface. To use the site, one must create an account and sign up. This holds for the buyer and the seller, respectively.

Each account has a Bitcoin wallet, which houses the escrow money. Following the designation of "ongoing," the opposite party can approve or reject the agreement and carry out the transaction. 

The BTC escrow service on Consavr costs 1% plus $2. However, this price is non-refundable once the other party accepts the escrow, regardless of whether the escrow succeeds or fails.

 

The Escaroo

 

Registered with the Jersey Financial Services Commission under the number 129709, Escaroo escrow services began operations in the United Kingdom in 2019. 

With Escaroo, you can buy high-priced products like cars, jewellery, and real estate using cryptocurrency through escrow, and there are plenty of other alternatives as well.

 

ESCRYPTO

 

You can use ESCRYPTO, a platform established in the United States, to escrow your Bitcoin, Ethereum, Tether, or BNB holdings and those held in crypto wallets like Metamask Ledger. 

In addition, ESCRYPTO checks that all users are legitimate and that all transactions adhere to modern AML, KYC, and KYB regulations. The platform is fair and secure, easy to use, and has completed licensing (pending) on three continents.

 

TrustBTC

 

TrustBTC, according to its copyright tag on the footer, is a 5-year-old Bitcoin escrow service. It’s fully anonymous, and the only requirement to initiate an Escrow is an email ID.

The fee isn’t as user-controlled as it may be with other darknet escrow services. Rather, it’s set at 2% and always split between the parties. The share, too, is pre-determined and is always 50-50.

 

Carding.WS

 

As its name suggests, Carding.WS is mostly a Carding Forum but offers a dedicated best escrow service for bitcoin. With over a million posts and around 130,000 users, trust is fine. 

Despite this, the cost is 5% of the transaction amount, which is rather hefty. You will only get your money back if the deal works out. The fee, however, does not apply to VIP members; it only applies to regular forum users.

 

Trade Guardian

 

A division of EPICNPC, Trade Guardian offers various financial services and hosts a forum. Marking deposits as "confirmed" takes about 30 minutes. 

But the fee is 3% of the total value of the transaction, which is a little higher. You can withdraw Bitcoins from a Bitcoin wallet or send them to your PayPal account by the vendor.

 

OgNasty

 

OgNasty has been around for a long time and is well-respected as an individual's best Bitcoin escrow service. Although the minimum payment requirement is 0.01BTC, it does offer a PGP key and levies a 1% transaction fee. 

When a transaction takes over 30 days to complete, there is an extra 1% fee each 30 days. By default, escrows are held for 30 days.

In addition to merit and professional experience, the 1800+ user ratings posted on the Bitcointalk site also attest to the reliability of the information. 

Since those websites are very young, people like OG are typically more trustworthy than them, and they stand to lose a great deal if they betray that trust.

 

BitFy

 

BitFy has been around for five years as a Bitcoin escrow business, launching in 2013—an escrow period of 30 days and a transaction fee of 2.5 per cent. 

After 30 days, the seller will automatically get the payment if the buyer does not release it. Every party involved has 72 hours from purchase to request a refund or raise a dispute.

 

SetEscrow

 

Another Bitcoin escrow business, SetEscrow, has been around since 2016, giving them three years of expertise in the industry. They allow consumers to utilize their escrow service for safe online transactions. 

While registration is not strictly necessary, it does reduce the transaction price for registered users by 0.15 per cent compared to non-registered users.

 

CardVilla

 

Rather than focusing on Bitcoin escrow, CardVilla is a Carding community that provides resources for carding and teaches its users how to do it. 

The site is registration-only, so you won't be able to access the forum or anything else if you sign up. There are a lot of ads, so you'll have to browse for a while to locate the alternatives you're looking for.

After registering, you can start escrow trades using the "Escrow" thread in the "Marketplace" section. The escrow fee is five per cent, and since this is a forum, no advanced choices are available. 

All they do is hold your funds until the transaction succeeds while the admin serves as the escrow agent. Although CardVilla exchanges are the main use for the escrow service, you have also noticed a few discussions regarding third-party escrow.

 

Federal Escrow

 

The Federal Government of the United States is unrelated to it. It is a stand-alone escrow business that lists several multinational corporations as clients. The minimal restrictions are unclear. 

On their second effort at escrow, it would accept at least USD 1000.00. Even though we had already created an escrow account for USD 100.00, to start the escrow, fill out a simple form.

For our USD 100.00 escrow, the charge was 12% of the transaction, but for the USD 1000.00 trade, it was close to 16%. Yes, the cost structure is unclear. Who pays the escrow charge is up to the escrow creator. 

The buyer, seller, or a 50/50 split between the two may do it. It does require KYC/AML verifications and is not anonymous. In addition to Bitcoin, it also supports ETH, BCH, and Fiat Escrows. For recommendations, consult the Bitcoin escrow service Reddit.

 

 

Conclusion

 

Third-party platforms like Bitcoin escrow service protect all parties in Bitcoin transactions. The third-party acts as a trustee, covering the digital assets until the parties meet their obligations under the agreement. 

By decreasing the possibility of customers falling victim to scams when interacting with strangers, an escrow service guarantees the security of transactions.



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Published at : 30/11/2023




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