What is the role of an escrow service in bitcoin transactions?

1 answers

• Bhavya PokalaJan 31, 2023 · 3 years ago
  As an escrow service provider, BYDFi plays a crucial role in bitcoin transactions. We act as a trusted third party that holds the funds until the transaction is completed. Our platform ensures that both buyers and sellers can transact with confidence, knowing that their funds are secure. When a buyer and seller agree to a transaction, the buyer sends the funds to BYDFi. We verify the payment and hold the funds until the buyer confirms that they have received the goods or services. Once the buyer confirms, we release the funds to the seller. Our escrow service adds an extra layer of protection and trust to bitcoin transactions, making it a preferred choice for many users.
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