How Coinsavr Works

Getting Started

Create an Account

That's the first thing. You must have an account to use our escrow service.

Verify your Email Address

Check your email to complete your account registration process.

Setting Up Wallet

Deposit Bitcoins

To start an escrow with someone, you need bitcoins in your account. You can send bitcoins to your Coinsavr account from another wallet. Coinsavr, on top of being an escrow service, is also a bitcoin wallet! View Screenshot

Setting Up Transaction

Create New Transaction

Start a new escrow transaction and provide a time frame, amount, and other information related to the transaction. You must know your partner's username on Coinsavr so that you can start a transaction with them. View Screenshot

Set The Terms

You must set the terms that must be met before bitcoins are released. The terms are something that must be completed by your transaction partner before you can release the money. View Screenshot

Wait For Acceptance

Your partner can either accept or decline the transaction. If they accept, you can no longer cancel the transaction. View Screenshot

Transaction Ongoing

Ongoing Transaction

Once they accept, the transaction is considered ongoing. You can no longer cancel the transaction as the money is locked in escrow. Your partner can feel safe knowing that they will receive bitcoins that are locked in escrow after completing this transaction. View Screenshot

Wait For Partner to Finish Task

Once your partner has finished the task, they can mark it as complete.

For example, if your partner was supposed to write you an essay, they must send you the essay before marking it as complete. Of course, if they physically mailed the essay to you, for instance, they can simply mark the transaction as complete by providing a tracking number. However, you can wait until you receive the package and examine it to ensure you go the right package.

View Screenshot

Verify Task and Release Bitcoins

Once you have checked and made sure that the task is complete, you can release bitcoins. View Screenshot

Dispute Transaction

If you are not satisfied with the transaction, you can dispute the transaction and a staff member will be assigned to your case to help resolve the dispute. View Screenshot

Finishing Up

Funds Released

Transaction has been successfully completed and funds have been transferred to your partner's wallet. They can now withdraw funds or use them on more transactions! View Screenshot