Whether you’re a buyer or seller, it’s natural to be concerned with your money being safely transferred when it comes to online transactions.
This is why we’ve introduced a brand new system to the Dagmarket platform — Escrow Deals.
If you haven’t hopped onto Dagmarket yet, think of it as your traditional online marketplace, but for any item you can imagine. That means physical electronics, clothing, software, artwork, or even a vehicle!
However, as you may have figured out by now, Dagmarket differs from any other marketplace due to every transaction being carried out with dagcoins. If you’ve been sitting on your dagcoins for a while, and are itching to spend them, it’s the ideal place to splurge!
What on earth is ‘escrow’?
Just in case you haven’t used an escrow system before, it essentially functions as an intermediary safe-box for your currency. Once a product has successfully been delivered to the satisfaction of both parties involved, the payment is released from escrow to the seller. Pretty simple!
But how does this work on Dagmarket?
If an Escrow Deal is initiated, upon payment, the dagcoins are securely held for a period that both parties agree on. After this is confirmed, the process continues completely as normal with the seller delivering the product. If the buyer is happy with the product and has received it as advertised, they’re given the ability to release the dagcoins from escrow
to the seller.
If the escrow window passes with no confirmation from the buyer, the purchase will be assumed to be successful, and the coins will be released to the seller.
If however, the buyer identifies an issue with the purchase before the escrow window is closed, they may open a dispute at which point the Dagmarket team comes to the rescue to resolve the issue.
We’re sure that our new Escrow Deal is going to give you peace of mind when using Dagmarket — it couldn’t be easier, or safer.