A wallet (or smart contract) that holds assets temporarily
A trusted escrow wallet in crypto is a wallet (or smart contract) that holds assets temporarily until the conditions of a trade or transaction are met — acting like a neutral third party. This helps protect both buyer and seller, especially when physical goods (like a bike) are involved.
Option 1: Use a Web3 Escrow Service
Best for: No coding experience
These platforms act as third-party intermediaries and often offer dispute resolution.
Trusted services include:
- Hodl Hodl (for BTC, multisig escrow)
- Escaroo – crypto escrow for NFTs and real-world goods
- Kleros Escrow – decentralized arbitration and dispute resolution (Ethereum-based)
How it works:
- Buyer sends funds to escrow wallet.
- Seller confirms shipping/pickup of bike.
- Buyer confirms receipt.
- Escrow releases funds to seller.
Option 2: Deploy a Custom Smart Contract Escrow
Best for: Web3 devs or technical teams
You can use Solidity to write a simple smart contract escrow on Ethereum, Polygon, or other EVM chains.
Basic process:
- Buyer sends ETH or WETH to the escrow smart contract.
- Seller delivers the bike.
- Buyer calls “confirmDelivery()”.
- Contract releases funds to the seller.
- Optional timeout + refund logic.
Want a template? Let me know — I can code one.
Option 3: Use a Multisig Wallet
Best for: Small trusted group or peer-to-peer sale
Multisig means multiple people must approve a transaction.
Use tools like:
- Gnosis Safe (most popular on Ethereum)
- Squads (for Solana)
- Safe Wallet (Polygon)
Example:
- You + buyer + third party each have 1 key.
- 2 out of 3 must sign to release funds.
- Buyer pays into the multisig wallet.
- Once the bike is delivered and both agree, funds are released.
🔁 How to Choose
| Your Need | Best Option |
|---|---|
| No-code, simple solution | Escaroo or Kleros |
| Technical team or dev access | Custom smart contract |
| Private peer-to-peer arrangement | Gnosis Safe multisig |
Let NFT-tradingcards.biz guide you through the process
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