Cryptocurrency Q&A
What is the escrow fee in crypto?
What is the escrow fee in crypto?
LucyStone
Wed Oct 16 2024
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5 answers
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I'm trying to understand the concept of escrow fees in the context of cryptocurrency transactions. Could someone explain what these fees are and how they work in the crypto world?
5 answers
Alessandra
Thu Oct 17 2024
This fee structure incentivizes both parties to engage in honest and efficient transactions, as it rewards makers for creating attractive offers and encourages takers to carefully consider their responses.
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CryptoLegend
Thu Oct 17 2024
Escrow fees are an integral part of transactions facilitated by LocalCryptos, serving as the transactional charges levied on users.
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CryptoPioneer
Thu Oct 17 2024
The platform adopts a tiered fee structure, ensuring a fair distribution of costs between the participants involved in each transaction.
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HanjiArtist
Thu Oct 17 2024
Specifically, LocalCryptos imposes a 0.25% fee on the maker, or the individual who initiates the offer listing by specifying the terms of the trade.
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SsangyongSpirited
Thu Oct 17 2024
Conversely, the taker, who responds to and accepts the offer made by the maker, is charged a slightly higher fee of 0.75% by LocalCryptos.
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