At BC Bitcoin we now offer a service to our customers where they can sell their coins privately and we can act for both parties as an Escrow agent. We advise and oversee the entire transaction for the benefit and protection of both parties and adjudicate if necessary.
Buyers and Sellers often run into difficulties when trying to buy/sell coins, especially if the transaction is large. Common problems we find are:
- Who sends payment/coins first?
- How do I know you will send the coins if I send payment first?
- How do I know you will send the funds if I send the coins first?
- What market rate should we use to establish the Bitcoin value?
- What if the payment isn’t received?
- What if payment is received but the name of the payee is different from the Buyer?
- What if payment takes a few hours to arrive and Bitcoin price has changed significantly?
- What if Buyer doesn’t send payment?
- What if the Seller changes their mind?
We can help advise on this complete process and can oversee a written agreement between the 2 parties agreeing to the terms of the transaction and a simple process to follow to ensure an easy and smooth transaction from start to finish.
For our service we charge a very small fee of 1% of the complete transaction, taken from the Bitcoin amount and we ask both parties to share this fee - 0.5% each.
- Seller wants to sell 1.2 Bitcoin at market rate
- Buyer wants to buy 1.2 Bitcoin at market rate
- BC Bitcoin advises both parties on the complete process from start to finish
- Both parties agree to the process and sign an agreement with BC Bitcoin
- Both parties sign a Purchase Agreement with the terms of the trade - Overseen by BC Bitcoin
- Seller sends Bitcoin to BC Bitcoin *Fee only paid if transaction is successful
- BC Bitcoin confirms that all coins have been received
- Buyer sends funds directly to Seller - as agreed in the Purchase Agreement
- Seller confirms that cleared funds have been received
- BC Bitcoin releases 1.188 Bitcoin to the Buyer (1.2 Bitcoin – 1% Fee)
- Transaction complete
Through our brokerage at BC Bitcoin we can even help you to find a Buyer for your coins.
Contact us to find out more about our coin escrow service for private sales.