The Crypto industry is changing the way we look at finance. Most people are spending their money online and making profits in different ways. Speaking of which, some people are investing in bitcoins via P2P manner to generate a passive income. If you are a crypto enthusiast, you might know that Bitcoin is the top player in the crypto marketplace. Trading a bitcoin in a P2P manner helps the users to avoid transaction fees.
In general, peer-to-peer Crypto transactions are happening every day and there are countless numbers of P2P transactions done by several investors. When speaking about P2P crypto transactions, there will be a functionality involved to validate the transaction. One such functionality is rightly termed to be an Escrow system.
As of now, many traders are preferring the P2P exchange which has a bitcoin escrow system. On the other hand, user counts are increasing in the P2P trading platforms that have a powerful Bitcoin escrow system. That’s why many crypto startups are creating a P2P Bitcoin exchange platform with escrow by using a Bitcoin escrow script.
In this article, you will have a clear perception of the Bitcoin Escrow script with its features, benefits, and more. But before that, let us start with…
What is Bitcoin Escrow Script?
Bitcoin escrow script is a ready-made escrow enabled p2p exchange software that helps you to launch a secure P2P crypto exchange platform. Bitcoin escrow script is crafted with advanced coding languages and blockchain technology. The powerful escrow system in the script will act as a middleman that helps in sending and receiving crypto assets at the end of two parties. Bitcoin Escrow Script allows the admin or owner of the exchange to keep track of the payments of both buyers & sellers who are in the transaction process.
Coinsclone provides a fully secured Bitcoin escrow script with top crypto trading functionalities and security features. By employing our best-in-class Bitcoin escrow script, you can create an escrow-based P2P Bitcoin exchange platform within a few days in a trouble-free manner. Besides, you can allow your users to make crypto transactions instantly in a trusted environment.
Why Should You Opt for the Bitcoin Escrow Script?
The escrow concept already existed in financial systems, for example, banking. An Escrow system in the Bitcoin Trading platform is a financial arrangement where a third party holds and regulates the payment of funds required for the transaction. This helps to make the transactions more secure by keeping the payment in escrow.
Escrow systems are useful in the case of a transaction where a large amount of money is involved. Also, a certain number of obligations need to be fulfilled before the payment is released. This Bitcoin escrow script makes sure that neither of the transactions is found defaulting. The buyer in the transaction deposits a negotiated amount of money in the escrow and demands the service to be done in the negotiated time.
The seller will be notified of the deal and the time which needs to be completed. Therefore, the seller will be responsible for completing the service within the negotiated time. During this period, the third party out there will be responsible for the security of the money.
So, it is better to choose a Bitcoin Escrow script so that you can enhance transaction speed & trustful transactions by protecting both buyer and seller from fraudulent activities.
Top P2P Bitcoin Escrow Script
Currently, there are several P2P Exchange Scripts with an escrow system. But crypto startups and entrepreneurs are preferring only a few scripts for building a P2P bitcoin trading platform with an escrow mechanism. Here we list some of the best P2P bitcoin escrow scripts that are prevailing in the crypto marketplace.
These above-mentioned P2P bitcoin escrow script are prominent among startups. You can choose any of these scripts and you can start your own P2P crypto exchange business with an escrow system. Next, let us see…
How Does a Bitcoin Escrow Script Work?
This P2P escrow script is introduced in the market to reduce the risks associated with the transactions by acting as a third party. This script actually recollects, holds, and pays out the funds only when both parties (i.e., buyer and seller) are satisfied.
For a better understanding, let us see how the premium Bitcoin escrow script works in real-time.
- Initially, the user needs to register in your P2P Bitcoin escrow exchange. And also they need to complete KYC for activating the crypto trading account.
- Once registered with the account, either the buyer or seller should initiate the transaction. But before that, both parties must agree to the terms of the transaction.
- Then, the buyer/seller will be given a choice either to accept or to deny.
- After accepting, the buyer should submit the payment by any of the approved payment methods, for which Escrow verifies the payment.
- Once the payment is verified, the seller’s crypto will be locked in escrow.
- Once the buyer transfers the funds to the seller’s bank account, the buyer should confirm by uploading a screenshot of the payment.
- After the confirmation is verified, Escrow releases the crypto and it will be automatically transferred to the buyer’s crypto wallet.
This is how the transaction is made simple yet secure in the Bitcoin escrow script. Next, we can see about…
Why is it Essential to Use a Bitcoin Escrow Script to Build a P2P Exchange?
- The buyer of the transaction can confirm the quantity of the crypto before payment gets done.
- The seller doesn’t want to undertake a massive amount of work without the assurance of payment!
- Every Escrow account will be unique from others. This is because the conditions and terms of purchase differ from others.
When it comes to the Bitcoin escrow system, your users are provided with a wide range of payment options. Some of them include wire transfers, credit cards, debit cards, Paypal, etc. However, payment types will have certain limitations. And also the Bitcoin Escrow script provides various features. Are you eager to explore the…
Ideal Features of Our Bitcoin Escrow Script
Here we list some of the extraordinary features that you can get in our premium Bitcoin escrow script.
- Custom UI/UX Design
- Transactions History & Overview
- Dispute Management System
- Crypto escrow wallet
- User-friendly CMS
- KYC/AML integration
- Two-Factor Authentication
- User Profile Notifications
- Multi-crypto support
- Referral program
- Multi-language support and more
You can get all these outstanding features in our Bitcoin escrow script. But you can also alter these features completely based on your business needs easily with the assistance of the Coinsclone developers and experts.
Benefits of Enabling an Escrow System in a Crypto Exchange
- Escrow guarantees the security of all buyers and sellers equally. And their disputes are dealt with higher concerns.
- Increased security and no risks for the users.
- High privacy for your users.
- The system ensures that funds sent by the buyers are kept in the safe ledger.
- This is a more safe and more secure strategy than regular banking escrow.
- When it comes to Buyers, Escrow keeps track of merchandise and verifies it until it is delivered. The seller won’t be paid until it is verified and accepted.
These are the benefits that you can get by integrating the escrow functionality in the exchange. Developing an escrow-powered P2P exchange is easy as pie when you have the Bitcoin escrow script from the Coinsclone. So, let us see…
Why Choose Coinsclone?
You can expect a lot of amendments in Escrow systems in further years. Coinsclone is a trustworthy Cryptocurrency Exchange Development Company in the market. We provide a wide range of crypto exchange clone script services to all the budding startups and entrepreneurs across the globe with their expectations fulfilled to a higher extent. In addition, we offer first-class Bitcoin escrow script with mind-blowing functionalities and security modules. With rich expertise in developing and delivering P2P crypto exchange with an escrow module, we stand unique from the crowd.
If you are looking to Launch your P2P Crypto Trading Platform with an escrow system at a budget-friendly price, then you can contact our team experts anytime to get a feature-packed bitcoin escrow script right away!