How to Earn Money With Escrow Service

In the present time, all the fields are full of competition so it is not easy for a beginner to start his own work easily. Lots of hard work and efforts we need to give to start our own service to earn a decent amount.

Here today we will tell you about a 100% working method to start your own escrow service.

What is Escrow Service?

Almost every person knows very well about escrow service but here we would like to explain this thing in very short to those who don’t know about it.

In the online internet world we can buy and sell our service or online assets, so to buy and sell our digital asset we need a middleman so that everything happens smoothly without any risk. The middleman who is working between buyer and seller is known as escrow. And the person who provides this service at a big level is known as escrow service.

Scams at social media are just part of the non-availability of escrow service, so here if you have some potential of money then you can start your escrow service at social platforms i.e concept to integrate escrow service with social media.

How does it work?

Suppose we are looking to sell our gift card, an example, to a person who is interested to buy your gift card in return for money.

So in this situation, a problem will arise that who will go first? Both the person, seller, and buyer, will feel fear and will not go at first because both of them don’t know each other and also we can’t trust people directly in the online world blindly because anytime we may face a scammer, as a buyer or seller.

So here we need a middleman, known as escrow service, who is trusted and known for buyer and seller both.

The middleman will take money from buyers and sellers respectively. After that with a small cut of the amount of fee, around 0.5% to 1 or 2 %, he will give a gift card to the buyer and money to the seller.

How to start your own escrow service?

In the field of Cryptocurrency, the best place to buy and sell your online items ( websites, gift cards, digital coins, social media accounts, software, etc ) is the www.bitcointalk.org platform.

At the Bitcointalk forum, we can create our own thread ( post ) and can start our own escrow service.

Here is a link to the list of escrow services which are already providing their service, you can follow them to see how they are managing and working their work perfectly.

Problems & Solutions to Start Escrow service

The first and last problem to start your escrow service is your Trust level and reviews about you in history, otherwise why people will hire your services instead of another most reputable service.

So to get a better trust level you need to hire a person in the forum to deposit a $500 or $1000 in his wallet, so that in any case if you will do scam then that reputed person will pay from his own wallet ( where you deposited your money to get trust in the forum ).

If you will run your service perfectly for 2-3 months then people give you better rating and review at your thread and in your profile which remain always published for everyone to see. After getting a better rating there, you can ask your money back from the person that you hired there in very starting.

But be careful, don’t pay blindly to anyone before identify whether that person is trusted or not. Here is a list of trusted managers, you can hire them according to their response rate and efficiently work reviews.

Is Any Risk Involve?

Yes, there is a very small chance of risk because the main issue is the confirmation of the product whether that is really good or not for the buyer. If you will do wrong confirmation about the digital goods that are going on the buy-sell between the two persons, then all blame will go on you and only you.

So always check properly all the items and digital goods perfectly whether they are perfect or not according to buyer and seller need or what they mentioned about the digital goods before the start of the deal, to keep yourself in a safe zone.