What is Chainpals? - How do Chainpals Work? | Cryptocurrency Escrow Account Services
In this video, we are going to share what is chainpals and how do chainpals work for crypto escrow account services.
As a seller or a buyer, you have the ability to create a transition and send that transition invite to your client in order to be paid. That payment is then held in an escrow account until the project invoiced for has been completed.
In a way, you could think of us as the Paypal of the crypto world.
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How do chainpals work?
There are basically 3 simple steps.
1. Enter your transaction information.
You’ll need to provide such things as your email, type of transaction, whether you’d like to pay somebody instantly or set milestone-based transition goals for larger projects, and then select the crypto you wish to pay in.
2. This is where you need to provide evidence of the agreement. Upload your invoice, describe the type of transaction, and supply a detailed guide that will cover you in the case of any disputes down the line.
3. If you choose to pay via milestones, which is a good idea for large or ongoing projects. Then define each milestone, and as they achieve each one, part of the payment will then be released to the other party.
Once everything is agreed upon, the buyer will make a payment to a smart contract where the funds will be held until released, making this method a much safer and secure option for buyers and sellers.
It’s also worth noting that chainpals also have escrow managers on hand in the case of any disputes. Therefore, you can be reassured that in the case of a payment dispute arising, we’re here to help both parties find a resolution.
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How do we help the community?
In short, as I’ve already mentioned you can think of us as the PayPal for cryptocurrencies. We help by providing a more secure solution to crypto transactions, without the need of worrying that the seller will run off with your money after sending.
Our fees per transaction are extremely low, and they only get lower if you decide to use our own chainpals token which will be entering private sale as of Q2 of this year.
Now I really hope this has given you some real insight to what you can expect from chainpals, but really in the video, I’ve only scratched the surface of what we plan to bring into existence.
Chainpals, is going to set the trend for finally seeing some security in the blockchain.
If you’re as excited as us and want to watch as we develop, then a sub to our channel will keep you in the loop for when we go live.
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