We built and run 100% decentralized crypto escrow service
Escrow is a legal concept describing a financial agreement whereby an assed of money is held by a third party on behalf of two other parties that are in the process of completing a transaction.
Web3 is the most transparent and secure than any other traditional systems in terms of payment because the main concept of Web3 is decentralisation. Where no one owns or can't changes the transactional data. That's why Web3 is the most suitable platform to place and manage an Escrow and its state.
Our site works like Upwork escrow. Every Escrow has some properties. An Escrow belongs to two different parties, the first party (buyer) and the second party (seller).
First party (buyer) - who creates/places a new escrow with other details.
Second party (seller) - seller address that the buyer (first party) provided while creating the escrow.
The buyer and the seller should connect their wallets on https://cryptoescrow.ink/. You can use MetaMask, Coinbase, or any other WalletConnect-supported wallet.
The buyer should create new Escrow and fill in the next info:
Contract Title - name of your escrow.
Contract Description - description of your escrow (Optional).
Seller Address - seller wallet address where funds should be delivered.
Escrow Amount - amount of sum should be delivered.
Expire At - the expiration time determines when the Escrow will be expired. After expiration, if the escrow is still in the initial state then the seller (2nd party) can claim the fund on his/her own.
Upload Doc - can be contract paper, NDA, any pdf, doc or images (Optional).
Click Submit. The buyer will create an escrow which will be shown in the buyer and seller dashboard as pending. The buyer can release payment anytime.
If any dispute occurs then the buyer will request to admin to refund that escrow. Admin will investigate the issue and refund if needed before the expiration time. The seller can also refund.
After the expiration time, if no dispute or release payment happens, the seller can claim the escrow funds by himself.
We run our crypto escrow in Ethereum Mainnet.
We use IPFS decentralized object storage through Web3Storage to store metadata and other files. And all the queries and mutations to the smart contract you deployed before.
We take 5% fees from escrow payments.
For any questions about using our Escrow service or any issues you can open-ticket.
Later we also launch our service in Binance Smart Chain and Solana blockchains networks.
We share profit from our escrow service with our holders!