It sounds quite important and unique when we get to know about both the peer-to-peer combining escrow services. As it resembles, it means the P2P cryptocurrency exchange with escrow services.
You will be aware of the P2P crypto exchange platform that furnishes via bitcoin escrow script. In that way, here we will discuss in detail about the Peer to Peer crypto exchange with escrow services in it.
Before getting to know about P2P escrow, let us have a look in separate about the peer to peer crypto exchange and what is escrow and how escrow works in bitcoin exchange platform.
What is Peer to Peer Exchange?
A peer-to-peer (P2P) exchange comprises decentralized exchange platform in which two individuals alone get interacted with one another without any intermediates like third party. That is, to describe it in a different way, in this P2P platform, the buyer and seller can perform the transaction in a direct manner using this peer to peer exchange service.
Some of the advantages of utilizing P2P crypto exchange platform includes searching, screening according to relevant requirements, rating availability, payment transactions processing either with or without escrow services.
What is Escrow?
An escrow is nothing but the financial arrangement which regulates the transaction payments of the funds with the help of third party holding takes place in between the two parties involved in the transactions. By using this escrow services in bitcoin escrow script, you can make your transactions more secure in protecting the payment within a secure escrow account. This happens only when all the terms and regulations got approved based on the agreement provided by escrow.
How does Escrow Work?
As mentioned above, it is a part of third party role accessed while making payment transactions in a decentralized exchange.
Herewith, we will know about the working process of bitcoin escrow script and its process:
- Escrow guides to remove the fraudulent activities as a trusted third party that performs the action to collect, hold and disburse funds as if satisfying both the buyer and seller making transaction.
- In order to agree the terms, buyer and seller need to get registered to escrow before undergoing transaction. Once registered, all the parties agree to the terms of escrow terms.
- At once the buyer pays to escrow system, i.e., buyer accepts and proceed with a payment to the secured escrow account. Escrow verifies and seller receives a notification like funds have been secured safe in an escrow account.
- Once the escrow payment verification is done, seller need to send out the commodities to the buyer along with the tracking information. Escrow also verifies that the buyer is reached out with the merchandise.
- After the product or asset reached the buyer, some days are set to buyer to inspect the commodities whether to accept it or reject it.
- With the confirmation that, merchandise accepted by the buyer, escrow releases the payment of the funds to the seller from the secured escrow account.
Where to develop P2P Crypto Exchange with Escrow Services?
As we have seen in detail about the escrows and its usefulness in case of transactions that helps in transacting large amount of money with certain agreement to be accomplished before striking out with the payment.
To obtain P2P escrow services, Pulsehyip lead you to build cryptocurrency exchange development. Based on your business requirements, we develop you an exchange either with or without escrow services.
Pulsehyip offers you bitcoin escrow script that brings out with many unique features to stand apart in this crypto market place.
Our crypto exchange escrow script comprises the following features based on the trends of the cryptocurrencies and its rise in the field.
1. Multisig wallet integration
2. Execute with Smart contracts
3. Enhanced Speed
4. Encrypted keys with high speed
5. KYC/AML integration etc
These are some of the main features of our escrow P2P development services. You can consult our experts and get free demo to implement it.