How to trade crypto safely with escrow

How escrow works

 

When you trade crypto online in Cambodia it is obviously important to build trust and make sure your agent will complete the transaction.

Here in CryptoAsia we value your trust the most when you exchange crypto, however we understand when our clients want to have a 3rd party who will ensure honesty of exchange and help in case of disputes.

We offer multiple options to escrow crypto on a p2p platform.

What is escrow and how it works?

Escrow service is a company who holds a seller’s cryptoasset in custody until the buyer pays for it, the transaction is settled and receipt is confirmed by the seller. When the seller is satisfied the escrow company will pass cryptoassets to the buyer. In case of a dispute or a mistake in the transaction the escrow company will investigate the case and decide whether to release the crypto or refund it.

For this extra layer of security the escrow companies charge a fee of up to 1%. CryptoAsia is listed on the most reputable of it presented below.

1. LocalCryptos

Fee: 0.25% from maker + 0.75% from taker

The most modern and reliable platform as of today. Their wallet is non-custodial, document verification is not required and all communication is encrypted unless a moderator is invited to resolve a dispute. It works fast and it’s mobile-friendly. Absolutely the best choice if you have to use escrow.

Browse CryptoAsia offers on LocalCryptos.

 

2. LocalBitcoins

Fee: 1% from maker

The oldest platform run by a Finland company. They have a reliable escrow, but can’t really recommend them anymore because they support only Bitcoin and they require plenty of documents for Cambodia.

It is custodial and follow European rules which mandates being extra diligent with customers from Cambodia.

We listed it here only to show our richest profile in terms of trades and reviews.

See CryptoAsia profile on LocalBitcoins.

 

3. Remitano

Fee: 1% from maker

This custodial service is worth mentioning because it is the only platform in Cambodia that can escrow Tether (USDT).

If you want to trade the stablecoin with CryptoAsia and have to use escrow then this is the choice for online exchange of USDT.

Check CryptoAsia offers on Remitano.

 

4. Personal meeting

Fee: 0%

Another option to safely buy Bitcoin and other crypto currencies is to meet face to face in Phnom Phen or Siem Reap. We believe that most trades can be done online to minimize social contacts and save time. However, if it is absolutely necessary and your trade amount is more than $1000, you can schedule a meeting with CryptoAsia.


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