Xeeru Escrow Service and Buyer Protection

Escrow is a trust-based arrangement where funds or items (in this case, Bitcoin) are held by a third party for a specified period until the transaction between two parties is considered complete. Due to the nature of cryptocurrency, transactions made over the blockchain are irreversible. This means that once Bitcoin is sent from one address to another, there is no way to force the recipient to return the payment. Unlike traditional payment methods such as credit cards, bank transfers, or PayPal, once funds are sent, there is no mechanism to reverse the transaction. This irreversibility is one of Bitcoin’s greatest features, providing online retailers and sellers with a level of security not available with traditional payment methods. However, it also increases the risk for buyers, who must place their full trust in the seller. This is where Xeeru’s automated escrow service comes into play. When a buyer pays for an item using escrow, Xeeru holds the funds until the buyer confirms receipt of the item and is satisfied, at which point the escrow is released to the seller. If the buyer does not receive the item or is unhappy with their purchase, they can request a refund. This process reduces the risk of losing Bitcoin and enhances trust between parties. Xeeru will hold funds in escrow for up to 15 days before releasing them to sellers, offering up to 15 days of protection for buyers using our escrow service.

How It Works

Xeeru retains the funds for up to 15 days from the purchase date/time. Once the buyer is satisfied with their purchase, they must release the escrow, after which Xeeru will immediately transfer the funds to the seller. If the buyer does not release the escrow within 15 days, the funds will be automatically released to the seller. In exceptional cases, Xeeru may release funds to the seller before the buyer releases the escrow or before the 15-day period is up. This may occur if the seller provides sufficient proof of delivery, if the buyer does not respond to messages or support requests, or under other special circumstances. In such cases, buyers will still be covered for the full 15-day escrow period and can request a refund directly from Xeeru after submitting a support request.

Trust in Xeeru

Xeeru brings extensive expertise in the cryptocurrency realm, with a distinguished track record in pioneering blockchain-based developments, strategic investments, and related innovations. Over the years, Xeeru has solidified its reputation as a trusted leader, leveraging profound insights and cutting-edge technologies to navigate and thrive in the dynamic crypto landscape.

Escrow Refunds

If the buyer does not receive or is dissatisfied with their purchase, they can submit a refund request to Xeeru and ask for a refund of their Bitcoin. The refund process is as follows: Buyers should allow sellers a minimum of 72 hours to deliver the item before requesting a refund. Sellers are given 72 hours to respond to a refund request, either agreeing to the refund or disputing it. If the seller agrees to the refund, the buyer will be refunded immediately. If the seller disputes the refund, our escrow team will intervene and mediate the dispute, requesting further evidence from both parties before making a decision. If the seller does not respond to or dispute the refund within 72 hours, the funds will be automatically refunded to the buyer. Once evidence is received from both parties, Xeeru will use this information, along with account history, feedback, prior sales, and private messages, to make a decision on the refund request. By using our escrow service, you agree that Xeeru reserves the right to use its discretion and all available means to arbitrate a refund request and make a final decision. Escrow refund decisions are final and cannot be overturned.

Escrow Releases

Sellers may request early release of funds from escrow before the 15-day period, provided certain conditions are met. Requests for early release should be made through our Support portal: Sellers can request an escrow release two weeks after completing the sale and shipping the item. Xeeru will consider the seller’s history, feedback, item type and value, and other relevant information before deciding whether to release the escrow. Xeeru reserves the right to refuse early release of funds from escrow and leave the decision to the buyer. Xeeru will not release funds if the buyer has already requested a refund.

Things to Know for Buyers

Although optional, we recommend using escrow for all purchases. Using escrow incurs a fee of $0.50 for items under $10, $1 for items between $10-$20, and 2.5% (minimum $1.50) for items over $20, which is added to the final payment. We advise buyers not to release funds before receiving their items. Xeeru holds funds in escrow for up to 15 days before automatically releasing them to sellers, unless a refund request or dispute is ongoing. For gift cards or similar credits, do not release escrow until you have used them. Never agree to release escrow before the seller ships the item. Avoid transacting outside of Xeeru. Do not send Bitcoin directly to the seller’s Bitcoin address. Once escrow is released for an item, buyer protection is voided, and no refund is possible. The seller will receive the funds immediately upon release, and we will no longer hold them.

Things to Know for Sellers

Provide clear item descriptions and aim to deliver within 72 hours. Use the private message system for all communications. Address issues with buyers to avoid refund requests. Respond to refund requests within 72 hours. Provide Xeeru with comprehensive evidence when disputing a refund request.