Ecommerce experiences should be intuitive and make it easy for users to buy and receive physical products, digital items, and services from established companies. Unfortunately, buying and selling goods can get more complicated when users have to trade directly with one another. Fraudulent practices tend to increase the risk with the value of the item and the method of payment.
For those looking to facilitate a purchase using Bitcoin from an untrustworthy person or company, a Bitcoin escrow service can help minimize risk. CryptoExchange is one of these platforms. To see if the platform deserves your trust and attention, let’s dive into this service and talk about whether CryptoExchange is really one of the best on the market.
Overview of CryptoExchange
CryptoExchange.com is an exchange, marketplace, and escrow service designed to facilitate cryptocurrency transactions. CryptoExchange manages multiple product categories including item domains, luxury vehicles, timepieces, and real estate. Before transacting with the account, users must provide an email and password as part of their account setup.
CryptoExchange’s services aim to provide escrow services that ensure the safety of both buyer and seller at affordable prices.
How does a Bitcoin escrow service work?
A Bitcoin escrow service is a middleman between two participants in a crypto transaction. CryptoExchange collects, holds and distributes funds when buyers and sellers have determined that they are happy with their transaction. We can summarize the CryptoExchange escrow process in five key steps:
- The buyer searches the CryptoExchange marketplace until they find a seller with a product they are interested in.
- The buyer pays for the escrow service from their cryptocurrency wallet. CryptoExchange will check that they have received the money.
- The seller ships the item to the buyer and the buyer confirms delivery.
- The buyer takes an inspection period to determine if they will accept the goods and notify CryptoExchange of their decision.
- CryptoExchange will release the money to the seller or help reverse the process in the event of a refusal.
To estimate the cost of the transaction, CryptoExchange offers an escrow fee calculator. The fees are listed in US dollars and Bitcoin but are subject to change based on the user’s transaction. Prices change in proportion to the cost of the item that requires escrow service, although there is a minimum of $ 32.50. These fees are the same, if not slightly lower, for large items when compared to other platforms.
CryptoExchange offers an exchange service, a marketplace and an escrow service on one platform. Therefore, users who want to use the payment advantages of the cryptocurrency but have not yet set up a wallet can do so. Users can also use Bitcoin, Litecoin, XRP, and. to buy ether to the Fiat money with a credit card (Mastercard or Visa) or a debit card. Purchase fees Cryptocurrencies are 0.1%, which is lower than the industry average of 0.2% to 0.5%.
In addition, users may also have difficulty finding a seller independently and can take advantage of the global network on CryptoExchange.
CryptoExchange is similar to any other e-commerce platform. Users can add items to their shopping cart or contact the escrow service separately. The platform’s dashboard guides first-time users through the escrow process and prompts buyers and sellers when they need to get an item or task done.
The rating of a user interface can be a subjective metric. However, the platform conforms to the standard of similar platforms.
Big business support
To make transactions easier, CryptoExchange works with big names, including watch manufacturers Jacob & Co and CarVault. Entrepreneur, Forbes, and Yahoo Finance have also provided features from CryptoExchange, further enhancing its reputation.
Buyer and seller protection
As with other platforms of this type, buyers and sellers first agree to a number of conditions. Only then can you continue with the transaction. The platform allows for an “evaluation period” during which the buyer is given the opportunity to assess the quality of the product before accepting it. The rating protects buyers from being “stuck” with a product offering that does not correspond to the description on the Internet.
Sellers have full confidence that the buyer has the money to buy their listing and in the event of a dispute they will get their product back in the same form quality.
CryptoExchange offers users a competitive offer – guaranteed BTC will only be sent to a seller if he delivers the goods and services as promised.
Before choosing an escrow service, users are still advised to do their own research so that they can be confident of the platform’s reputation. However, according to our initial review, the platform ranks among the best escrow services available to users today.