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Escrow

What does Escrow mean in crypto terms?

Escrow refers to a contractual arrangement where a third party, called an escrow agent, holds and regulates payment of the funds required for two parties involved in a transaction. The funds or assets are kept in a secure escrow account until all contractual obligations are met, ensuring the transaction is conducted fairly and safely. In the realm of cryptocurrencies, escrow services are often used in peer-to-peer transactions, ICOs, and marketplace trades, providing a layer of security and mitigating the risk of fraud by ensuring that the funds are only released when all conditions are satisfied.

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