eCoin Escrow Service: FlipBit

Trading eCoins online can be risky, since the sender can not reverse a transaction. Flip Bit acts as a third party for eCoin transactions, holding the eCoins you submit until you release them to the other party.

eCoins placed into escrow can only be removed from the escrow account three ways:

• The buyer releases the eCoins in escrow to the seller.


• The seller refunds the eCoins to the buyer.


• The buyer and seller are unable to agree, at which time Flip Bit will act as an arbitrator to determine who should receive the eCoins.

While there is no absolute safe way to send your eCoins to others, an online escrow service can add another layer of protection.

To support this site, Flip Bit charges a nominal (2%) transaction fee for escrow services, with a minimum charge of 0.02. Escrow fees are non-refundable.

eCoins held in escrow will only be received to the recipient when a sender releases them, and will only be released to the sender if the recipient releases them.

If you experience problems with a transaction, please use the online dispute resolution (as a sender, request a refund or as a buyer request payment release).

Flip Bit will have final say in any dispute arbitration.

Flip Bit will not use any information you provide for marketing purposes. We only use e-mail addresses to send communications regarding this specific transaction.

To protect the privacy of users, all records of escrow transactions are removed from the database on completion.