moonchild
VIP Contributor
Escrow is a mediator between transactions, they make sure both parties involved in a transaction get paid, no shortchanging or scam, so basically we can conclude that escrow is built upon trust, let me a paint a scenario, assuming I want to buy a phone from Mr A and I don't know Mr A, we'll then go to an escrow, I'll pay the cash to the escrow and I'll get the phone, after checking the phone and testing everything out, I'll then tell the escrow to pay him the money, now without the help of an escrow, I can get scammed because he can sell a fake phone to me and I won't know till I part with my money.
You can start this business in forums that deals with buying and selling like Nairaland, Trendri or Stackoverflow, if you're trustworthy, there are many factors that can deem you a trustworthy person, maybe you've been on the forum for long or you've did transactions with other forum members in the past or you have a traceable address or business certificates, you can make money by charging a commission for every successful transaction, even though it might not be much its a viable way to make money.
You can start this business in forums that deals with buying and selling like Nairaland, Trendri or Stackoverflow, if you're trustworthy, there are many factors that can deem you a trustworthy person, maybe you've been on the forum for long or you've did transactions with other forum members in the past or you have a traceable address or business certificates, you can make money by charging a commission for every successful transaction, even though it might not be much its a viable way to make money.