In order to ensure Nebeus exchange transactions safety we employ the Escrow service.
The Escrow service is the trusted third party in the transaction between the seller and the buyer and ensures both of them from dishonest conduct by depositing the funds nominated in Bitcoin.
The seller of the buyer (The first party) publishes an offer at the exchange listing.
The second party sends the offer-request for Bitcoin purchase/sale, including the volume and the exchange rate.
The first party, upon receipt of the offer request, is able to
- accept the terms of the offer;
- reject it;
If the terms are accepted, the exchange deposits the funds. It is important to highlight that in case the Bitcoin Seller made the offer, the funds are deposited from his account; if the offer was made by the Buyer, the funds are also deposited from the Bitcoin Seller account. Thus, in any case, Bitcoins are the deposited funds.
The deposit term is specified by the party that created the offer.
During the course of the transaction, the service is waiting for the transaction terms fulfillment.
In order to receive the funds, the Bitcoins Buyer has to enter the Pin code received from the Seller.
After the Pin code is entered, the funds will be automatically transferred to the Buyer.
Important note* – the buyer has only three attempts to activate the Pin-code; after three unsuccessful attempts the Pin-code becomes void. In order to receive the new Pin-code, you should contact the Service support.
The deposited funds cannot be used until the transaction is successfully completed. Thus, the deposited funds can be released only upon entering the Pin-code or in case both parties cancel the transaction.
After the 10-days period, any party can file a claim to the Arbitration. Based on the arbitration decision, the deposited funds are transferred to the winning party account exclusive of the arbitration charges.