An escrow is a legal/financial arrangement where a third party holds an asset on behalf two parties involved in a transaction. It is a method that ensures a secure transaction because the asset in question is released only after the agreed terms have been met. Thus protecting both parties concerned from fraud.
Bitkoin Africa provides escrow services for all Bitcoin transactions. This means that all Bitcoin intended for sale and payments for Bitcoin are first deposited by the sellers/buyers who create Trade Postings, held by Bitkoin Africa, and then dispensed to the appropriate buyers/sellers who respond to Trade Postings.
In your Bitkoin Africa Wallet, there’s an item labelled ‘Escrowed Balance’. This shows how much Bitcoin or Naira you have deposited in escrow. If you create a Trade Posting to sell Bitcoin, there should be Bitcoin in your Escrowed Balance. Likewise, if you create a Trade Posting to buy Bitcoin, there should be Naira in your Escrowed Balance. An empty Escrowed Balance means you have no Trade Postings active.