What is Cotswold Escrow?
Cotswold Escrow is an UK registered Bitcoin Escrow Company. We are currently the number one bitcoin escrow site in the world. We offer a safe a secure platform for sellers to sell their items for sale FREE of charge and for buyers to buy those items while taking advantage of our 30 days buyer protection.
The escrow service provided on cotswoldescrow.co.uk is an in-house service, we don’t use any third party to process any funds or arbitrate escrow disputes, cutting the middle man and saving our users money. Our escrow service offers a 30 days buyer protection and provides the peace of mind much needed when dealing with digital currency.
When a buyer want to buying an item, they will be contact by email with information where they need to deposit the payment for the product that they want to buy it.
The buyer need to deposit the product price plus or 2.5% fee.
BITCOIN ESCROW: AN OVERVIEW
We know bitcoin, the modern cryptocurrency that becomes an undeniable payment method at most everywhere around the globe. It has been deemed as master of cryptocurrency, as it has paved a way for other cryptocurrencies like ethereum, monero, XRP, and others to survive in the crypto marketplace. People who resides in this crypto industry may aware of all these monumental success of bitcoin throughout the years of the journey. But, there are some important things that we need to concentrate more, especially while transacting bitcoins.
In the case of bitcoin: "The success derived a way for huge adoption, the adoptions derived chances for complexities, and the complexities resulted in anonymity.”
You can see the entire story has diverged into negativity, right?.
Complexities. Anonymities and Insecurities are often happened while transacting bitcoin. So, the success has indirectly resulted in negativity and the people started to leave from bitcoin network. By realizing the bad impact, crypto industry have taken some initiatives to rescue the system, especially to smoothen the bitcoin payments and transactions.
Bitcoin Escrow - The first rescuing concept of bitcoin industry - which has smashed out all the hurdles while transactions bitcoins to a third party.
WHAT IS BITCOIN ESCROW?
Bitcoin Escrow is a Service, that helps to build a secure cryptocurrency eco world, with increased transaction speed, trust & security by protecting both buyer and seller from scams. Escrow is already exist in other financial systems, especially in banking. The concept works as same in bitcoin industry too.
HOW DOES BITCOIN ESCROW WORKS?
https://cotswoldescrow.co.uk mediates fund transaction between a buyer and a seller. Whereas the escrow may be a third party https://cotswoldescrow.co.uk admin. Nowadays smart contracts have replaced the need of admins.
In tradtitional bitcoin trading/exchange/ transaction a buyer may request a seller to send bitcoins for the money which he/she has. The seller receives money from the buyer through a medium, and he provides a product, service or bitcoin to the buyer after verifying the received payment.
In some exceptional cases, the seller may abscond after receiving payment, and in some cases, the buyer may abscond without sending the payment. If this happens, outside of an exchange both sides may be left as helpless and will result in huge losses also they can’t legally pursue a case as bitcoin is decentralized.
The above scenario may happen while purchasing a product from an e-commerce store, booking tickets online or any bitcoin centric transactions.
So, how https://cotswoldescrow.co.uk may safeguard buyer and seller, Let’s see below,
While transacting bitcoins there will be two mandatory processes,
1. Buyer sends payment (bitcoin) to the seller in order to get a service/product
2. Seller sends product or maybe bitcoin for the received payment.
Here the two main people are buyer and seller, and at any time any of them may become a scammer. So let's see how bitcoin escrow resolves it.
Here https://cotswoldescrow.co.uk will break the two process into three as below,
1. Buyer & Seller agree with the terms and conditions about the item.
2. The https://cotswoldescrow.co.uk admin verifies the payment from the buyer.
3. The https://cotswoldescrow.co.uk admin releases bitcoin to the buyer after he gets a confirmation from the seller.
The https://cotswoldescrow.co.uk admin will not release bitcoin without proper confirmations. So the buyer gets what he thought to buy, and the seller receives money for what he sent to the customer
The https://cotswoldescrow.co.uk Works as Below
1. Buyer and seller signs an agreement in the governance of https://cotswoldescrow.co.uk admin for what they are going to transact with each other.
2. The agreement would consist of every single detail about the transactions, which includes money, time and etc.
3. After the agreement processed, The seller sends bitcoins to the https://cotswoldescrow.co.uk wallet.
4. And the buyer will be notified via email or a message about the seller have deposited bitcoins.
5. After the notifications received buyer sends payment to the seller.
6. The seller checks payment and will instruct the https://cotswoldescrow.co.uk admin to release funds to the buyer
7. The contract gets closed after the buyer receives bitcoin from the escrow admin
Now you may ask three questions…
1. What if the https://cotswoldescrow.co.uk admin steals my bitcoin as we are storing bitcoins inside a third party wallet?
2. The above scenario and workflow is for buying bitcoins from the seller, So what if the buyer purchases a product from an online shopping store. The above https://cotswoldescrow.co.uk flow powers the seller side alone, as he made the final decisions to release bitcoins. If the buyer receives product/service from online store by sending bitcoins then who has the high authority to make decisions and how https://cotswoldescrow.co.uk will secure a buyer?
3. How https://cotswoldescrow.co.uk will help both sides if the received service/ product is not the same as mentioned in the contract/agreement
No Chance For https://cotswoldescrow.co.uk To Steal Money From Buyer Or Seller
Because the people who are participated in the transactions are provided with randomly generated 3 different secured encrypted keys, which are characterized to match each other. These keys are automatically generated with the concept of AES (Advanced Encryption Standards ). The wallet which the https://cotswoldescrow.co.uk admin hold is designed to unlock when all the three keys are matched.
So, none of the party can have access to open the wallet without getting permission from the other two peoples.
So not only the https://cotswoldescrow.co.uk admin, nobody can steal money/bitcoin during the escrow transaction.
Who Have High Rights When A Seller Sends A Product Instead Of Bitcoin, And The Buyer Sends Bitcoin As A Payment?
The buyer has the decision-making authority, as he is the end user. Let’s say a buyer purchase a face makeup kit from an e-commerce store by sending bitcoin. The buyer has to make the purchase from an https://cotswoldescrow.co.uk enabled bitcoin transaction portal. Here the https://cotswoldescrow.co.uk will release payment to the seller after the product is received at the buyer side.
This concept becomes a trend in e-commerce stores as many wishes to make payments. Merchants who wish to sell products from bitcoin payment have to register under an https://cotswoldescrow.co.uk
This is how the bitraded works, and safeguards merchants and customer.
By this way, the merchant can increase trust and the consumers can experience the smooth bitcoin payment processing for the purchased items.
How https://cotswoldescrow.co.uk Will Help If Something Goes Bad?
https://cotswoldescrow.co.uk will process a dispute resolution when a complaint is recorded from either buyer or seller. This way the two people can claim their loss or rights legally through court by mediating the https://cotswoldescrow.co.uk admin.
So, Hope you got a clear idea about what is escrow, how it works and how buyer and seller or benefited through escrow.
We do not accept transactions with illegal / forbidden products.
Any attempt to sell illegal / forbidden products will result in blocking the transaction and deposit, and we will send all the details to the UK National Fraud & Cyber Crime Reporting Center
If you need information, please contact us at