Silk Road forums
Discussion => Newbie discussion => Topic started by: pigssometimesfly on May 19, 2013, 07:24 pm
-
this is an absolute newbie question but I have looked for an answer for hours and can't find it. How does SR knows that I have transferred BTC from my wallet to their escrow? My account is not associated with my BTC address so how does it work? I don't wanna lose my money, I know SR has a good reputation but caution is never enough.
-
You first transfer your BTC into your SR wallet. SR knows the amount of BTC that you have in this wallet, and they will deduct BTC from this wallet once you make a purchase, and put them in escrow. If you don't trust SR, then don't transfer BTC to your SR wallet until you are ready to make a purchase!
-
SRs coin wallet is one of the safest available.
Escrow is employed once a purchase is made, when you get your goods you finalize and SR releases the funds to the seller.