What is the role of a guarantor in cryptocurrency transactions?

3 answers

• Milly NamayanjaMar 07, 2024 · a year ago
  A guarantor in cryptocurrency transactions acts as a third-party entity that ensures the completion of a transaction between two parties. They provide an additional layer of security and trust by holding the funds in escrow until the terms of the transaction are met. This helps to mitigate the risk of fraud or non-payment, as the guarantor ensures that both parties fulfill their obligations. It is important to choose a reliable and reputable guarantor to ensure the safety of your transactions.
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• Oluchi MuogharaOct 01, 2024 · a year ago
  In cryptocurrency transactions, a guarantor plays a crucial role in facilitating secure and trustworthy transactions. They act as a neutral party that holds the funds until the transaction is completed successfully. This helps to protect both the buyer and the seller from potential risks, such as fraud or non-payment. By involving a guarantor, parties can have peace of mind knowing that their funds are safe until the transaction is finalized.
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• Ihny PODAFeb 28, 2021 · 4 years ago
  At BYDFi, we understand the importance of a guarantor in cryptocurrency transactions. As a third-party platform, we offer guarantor services to ensure the smooth and secure completion of transactions. Our role is to hold the funds in escrow and release them only when the terms of the transaction are met. This provides an added layer of trust and security for both buyers and sellers, making cryptocurrency transactions safer and more reliable.
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