Flash Escrow (flashescrow.com) is a Bitcoin trading platform which claims to use state of the art technology such as two factor authorization to ensure secure end-to-end escrow transactions.
At first glance this website appears very simple and straightforward, but looks can be deceiving.
FlashEscrow.com has been active for just over 8 weeks as of writing this article. Within this short while there have been many complaints against this service.
While we were investigating this service, we found a lot of disturbing facts which makes us believe this platform may not be trustworthy.
Read our full review to find out why you should never send your money to this exchange platform.
Flash Escrow Company and Support
An escrow is basically a third party who holds funds required for two parties involved in any specific transaction.
Simply put, buyers pay to the escrow agent and the seller sends any type of products or performs any type of activities. Upon completion, if the buyer is satisfied with the work and accepts to pay for it, the seller gets paid by the escrow agent.
Since Flash Escrow provides financial services in the United States, they are required to be regulated by the Securities and Exchange Commission. We tried to find any licenses this firm should lawfully hold, but there simply weren’t any.
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Since FlashEscrow.com is not regulated and their activities are not monitored by the SEC, we recommend all our readers to stay away from this firm because it might be operating illegally.
There is no contact details provided by this firm. If you are experiencing any problem on this platform, the only way to reach the support team is by generating a support ticket through their website.
Don’t you find it strange an escrow service which does not provide telephone assistance? Let us know your thoughts.
Flash Escrow Dashboard and Platform
This platform is very basic and self-explanatory.
Users have the option to buy or sell Bitcoin and in order to do that they just have to enter the amount they are willing to buy or sell and enter in an escrow number and after the terms of the transaction which is both the buyer and seller sends the Bitcoin to escrow agent he verifies and credits the accounts respectively.
For transaction history you just have to click the default dashboard button which will reveal your current balance amount in BTC, the current price of Bitcoin and the status of any payments you have sent or received.
Users have to verify their accounts in order to qualify for withdrawals if the transacted amounts are huge. The verification documents required by this firm are quite standard.
You have to submit your phone number and upload drivers license or international passport. A national ID issued by your local government is also accepted.
Deposit and withdrawal
The only mode of payment accepted by this platform is Bitcoin.
The minimum deposit required in order to get started with this platform is 0.00140 BTC.
They state that the transactions are credited after 1 confirmation on the Bitcoin network.
Flash Escrow Complaints
Here are some of the comments expressed by the users of this service on TrustPilot.com:
DEFINITELY A SCAM SITE THAT STEALS YOUR INFO AND BITCOINS!!! ANYONE ASKING YOU TO USE IT IS A SCAMMER!!! Operated by scammer(s) who pretend to be buying/selling/trading crypto at very attractive prices. Sometimes scammers might pretend to arrange to meet you in person, but require you to send in your crypto into an “escrow” site before meeting (in actual fact he will never be meeting you, probably not even in the same country). This site is probably one such “escrow” site operated by the scammer himself, so you will lose all your crypto. A quick check on who.is reveals that flashescrow.com was only recently registered on 2018-05-31. However, the “reviews” on their “sellers” claim trades in March and April, so that’s definitely a lie.
Another user wrote:
Very disappointing experience… I have a very disappointing experience with this website. As one of the other reviewer mentioned, it is stucked also my BTC unlike of their instruction and the team support are not responsive. After sending several email, didn’t get any answer. Don’t use this platform for your trade”.
Is Flash Escrow a Scam?
Considering all the above facts, FlashEscrow appears to be a fraudulent platform.
Flash Escrow Review Conclusion
If you are looking for a reliable and legitimate escrow agent, there are many out there but it might not be worth to consider FlashEscrow due to the bad reputation it has.
Have you been scammed by FlashEscrow.com? Share your story by commenting below this review.
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