Our Services
We Are Here To Help You
Escrow systems, which typically function as a third-party service to assure transactional security, have existed in some form or another for hundreds of years. This is especially helpful if the parties to the transaction are strangers to one another because doing business without responsibility or insurance, such as an escrow service, can be risky..
Cryptocurrency Escrow
The main goal of an escrow for cryptocurrency sales, including those involving Bitcoin and other Altcoins, is to have a dependable, impartial stakeholder (Corner Stone Escrow) accept, keep, and swap the cryptocurrency between the buyer and seller once both parties have received their payments.
The location of the transaction partners has no bearing on the bitcoin escrow because transactions can occur anytime, anyplace.
Why do you need crypto Escrow?
This intermediate role is carried out by banks and other financial institutions in traditional, centralised finance, but this is where crypto and conventional escrow services diverge. This is so that they may benefit from the built-in security that blockchain encryption provides for cryptocurrencies like Bitcoin and others. Because of this underlying technology, crypto escrow services do not require the costly and time-consuming services of lawyers and legal papers to confirm transactions, as a bank would. Bitcoin/crypto escrow is frequently referred to as a type of decentralised finance due to this independence from traditional finance and the acceptance of over-the-counter procedures.
Our obligations
Our obligations in the cryptocurrency escrow include adhering to the deadlines set by the principals and other participants in the transaction, handling the funds and cryptocurrency in accordance with the instructions, paying all bills as authorised, responding to authorised requests from the principals, closing the escrow only when all terms funds in accordance with instructions, and providing an accounting for same: the closing or Settlement Statement.
The challenge of Cryptocurrency Escrow
Using the cryptocurrency of purchase, past buyers typically deny receiving it. The majority of them complain about providing the erroneous cryptocurrency wallet address, which causes the escrow transaction to get stuck in an endless loop of returning or holding the funds for more research.
We're Trustworthy Secure
In order to make transactions safe for both the buyer and the seller while dealing with strangers, you also need an escrow like Lotus Escrow to verify the legal documentation and identity of both transaction partners.