Ethereum Escrow: What You Need to Know
The most on-the-rise cryptocurrency to watch in 2019 is Ethereum (ETH). The versatility of this decentralized software platform and its recent price surge have made it a favorite among many crypto consumers. You might be looking to invest in Ethereum for the first time but unsure of how to do so safely. By using an Ethereum escrow service, your risk of getting scammed diminishes significantly.
An Ethereum escrow service serves as the middleman between Ethereum buyer and seller. We protect both the payment and Ethereum and safely pass them along to their respective parties.
Checking Blockchain, Buyer, and Seller
As a reputable Ethereum escrow service, Anaiv Capital knows that blockchain matters. That’s why we inspect the Ethereum blockchain. We can see what smart contracts Ethereum has run in the past. This is important because criminal activity in the blockchain can affect how Ethereum is used in the future. Anaiv also mitigates risks by complying with AML/KYC (Anti-Money Laundering/Know Your Customer) regulations. We thoroughly check both buyer and seller.
Choosing the Right Storage
Ethereum escrow services will hold your Ethereum in a secure escrow wallet until the transaction is complete. They may use either a hot or cold wallet. With a hot wallet, you can access your key (which enables you to transact with your Ethereum) online. This obviously gives you easy access to your Ethereum, but it does not make it very safe. This is not where you want your ETH escrow service to be storing your Ethereum. The much safer alternative is a cold wallet, which stores your keys offline. Anaiv Capital only stores our clients’ Ethereum in cold wallets to make them less susceptible to cyber-attacks.
Having Escrow Service Experience
The founding partners of Anaiv Capital have over thirty years of experience in traditional escrow services. People have been trusting us for decades to serve as impartial third-parties to assist them in their real estate transactions. We fulfill this same role in Ethereum transactions.
Once the buyer and seller have fulfilled their agreement, Anaiv Escrow releases the Ethereum and payment to the buyer and seller respectively. Often times, these transactions are completed in just minutes, even if the involved parties are countries apart.
Whether you’re looking to buy or sell Ethereum, the safest way to complete your transaction is through a trusted ETH escrow service. Anaiv Capital only charges a 0.5% fee for this service, which is significantly more affordable than our competition.