Hello yogg!
I am trying to start a small business selling miners and related equipment. I am interested in whether or not you would provide escrow service for sales to my customers. I am new in digital currency business, and on this forum. I will be low volume for a while as I try to build up capital to get larger, but probably one or two miners per month right now - if that.
Also, I have never used an escrow service before - but understand the need for someone with little history to go on like myself - but also, I must be careful to not be scammed as well. The question here, is how exactly does this work? I assume my customer would send you BTC, then when I know you have BTC, then I send you or them the items. Once you or them get the items, then you release the BTC to me? Or other?
Also, when doing this - does this help increase my own trust score - so if after doing this for some transactions - will I be getting a better trust score so that in the longer term I may not need to do escrow as my trust score will be satisfactory to customers?
I don't even mind paying you some fee to do this. I see others who charge a small fee.
Anyway, please help me understand the logistics and if you would be interested.
Thanks!
Hi Ameador1,
Yes, I believe I can help you.
You got the concept of escrow right : your customer send the funds to one of my escrow addresses (signed by my primary address starting with 1yogg (as in the 1st post of this thread)).
Then I confirm the payment to you so you can send the hardware to the buyer. When the buyer confirms the reception of the items he ordered, I release the payment to you. Simple.
It certainly helps to increase your trust and the legitimacy towards your business, since it shows that you are not interested into getting some coins fast and run away to never be seen again.
The trust score is based off the Positive feedbacks you receive from other members of the board. In the long term if you are trusted enough, yes you could trade without a need for an escrow but that means people sending the coins to you before you ship : you understand this will happen only if you are very trusted.
There is no exception for anyone and I will not charge a fee. However, I do appreciate tips very much.
If you have any question, feel free to ask !
Regards,
yogg
