Internet Escrow Service 'Agreed' Claims To Be First to Accept Bitcoin
A California-licensed Internet escrow service, Agreed, announced on Tuesday a partnership with GoCoin that will allow clients to make payments with Bitcoin or Litecoin. The company is claiming to be the first and only licensed Internet escrow service to be accepting the digital currency, and they say support for other cryptocurrencies will soon be included. "Payment flexibility, processing efficiency, and transactional security are key to a successful escrow transaction, all of which are core to the Bitcoin protocol. Agreed prides itself on finding new and innovative ways to handle online....
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Whenever I talk to people that want to know more about Bitcoin, I get questions like, “What can you do with bitcoin? Can you buy stuff with bitcoin? Are there safe ways to buy items? Which services do you recommend?” The internet, and to some extent the digital currency world, is the Wild West for the most part, with very few safeguards to protect people who are not extremely careful. What can the general public do to protect themselves against fraud, scammers, and the more unsavoury characters on the internet? Everyone should use escrow for their transactions — this goes for buyers and....
One of the biggest features of Bitcoin is the lacking of chargebacks, which can be seen as an advantage and a disadvantage. By not having the ability to have chargebacks, sellers usually have the advantage when it comes to consumer protection. But what about the buyer? This is where an escrow service comes in. Escrow services are a third party which both the buyer and seller both agree on to exchange the money and goods. The buyer sends the money to the escrow, while the seller sends the product. Once both is confirmed, they are sent on their way. If one fails to hold their end of the....
For Bitcoiners, Purse.io seems to be one of the best options for spending Bitcoin for goods, as Amazon carries almost anything you would want to buy. In addition to the ability to spend Bitcoin on Amazon products, Purse.io allows you to choose a discount rate between 1-50%. However, since Purse acts as an escrow service, it is extremely unlikely that you will be able to get a 50% discount on anything. In past transactions with Purse, I’ve gotten up to a 35% discount on items that were less than $10, 30% off of items that were less than $30, and 25% off of anything higher than that. In....
An escrow is a standard financial arrangement to add security to transactions. The agreement includes a third party with the responsibility of holding funds in safekeeping until the two parties meet the obligation terms. As you know, bitcoin shares several properties with cash. Therefore, once a Buyer and Seller exchange funds, it is nearly impossible […]
Another popular bitcoin site has been the victim of a hack. CryptoThrift, an “eBay like” site that allows buyers and sellers conduct their transactions in both Bitcoin and Litecoin, announced today that they lost a “little over” 15 BTC that was being held in escrow in a hot wallet. The attack took place early Sunday morning. The funds, which the company says it will cover, were being held in escrow during the duration of various sales. CryptoThrift has stated that the majority of the funds being held in escrow were held in offline storage, safe from the attacker. That security practice is....