DeutschThe English term Escrow can be translated into German as “Treuhand” (trusteeship). The translation as “Hinterlegung” (deposit) is also used. Accordingly, an escrow account is a trust account. The payment mechanism ensures two things: Firstly, it guarantees that payments arrive at the seller as desired. For buyers, escrow procedures ensure that they actually receive the goods, assets or services purchased.
Also in the field of cryptocurrencies, more and more exchanges are offering an escrow service, especially for large amounts of Bitcoin and other cryptocurrencies.
