Is there a specific meaning of guarantor payment in the context of cryptocurrencies?

3 answers

• May 02, 2022 · 3 years ago
  Guarantor payment in the context of cryptocurrencies refers to a mechanism where a third party ensures the completion of a transaction by providing a guarantee. This can be useful in situations where trust is lacking between the buyer and seller. The guarantor acts as a mediator and holds the funds until both parties fulfill their obligations. Once the conditions are met, the guarantor releases the funds to the appropriate party. It adds an extra layer of security and reduces the risk of fraud in cryptocurrency transactions.
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• May 02, 2022 · 3 years ago
  Yeah, so guarantor payment in the crypto world is like having a friend who vouches for you when you're making a deal. It's like saying, 'Hey, I got your back!' The guarantor ensures that the transaction goes smoothly and that everyone involved gets what they're supposed to. It's a way to build trust in a trustless environment, you know?
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• May 02, 2022 · 3 years ago
  At BYDFi, we believe in the power of guarantor payment in the crypto industry. It helps protect both buyers and sellers from potential scams or fraudulent activities. With guarantor payment, users can have peace of mind knowing that their funds are held securely until the transaction is completed. It's an important feature that adds an extra layer of security to the BYDFi platform.
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