Find answers to the most common questions about our escrow service, security measures, and how to get started.
General Questions
PeerShield is a cryptocurrency escrow service that provides secure, trustworthy transactions between parties who may not know or trust each other. We act as a neutral third party, holding funds securely until all transaction conditions are met, ensuring both buyers and sellers are protected.
Our escrow process is simple: 1) The buyer deposits cryptocurrency into our secure escrow wallet. 2) We notify the seller that funds are secured. 3) The seller delivers the goods or services. 4) The buyer confirms receipt and satisfaction. 5) We release the funds to the seller. If any disputes arise, our mediation team steps in to resolve them fairly.
We support a wide range of popular cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT), USD Coin (USDC), BNB, and many more. We regularly add new cryptocurrencies based on user demand and security considerations.
Creating an account is quick and easy. Click the "Get Started" button, provide your email address, create a secure password, and verify your email. For enhanced features and higher transaction limits, you can complete our KYC (Know Your Customer) verification process.
Security
Your cryptocurrency is protected by multiple security layers: multi-signature wallets requiring multiple approvals, cold storage for the majority of funds, hardware security modules (HSM), 256-bit AES encryption, and 24/7 monitoring. We also conduct regular third-party security audits to ensure our systems meet the highest standards.
Multi-signature (multisig) is a security feature that requires multiple private keys to authorize a transaction. We use a 2-of-3 signature scheme, meaning at least two authorized parties must approve any fund transfer. This prevents any single party—including us—from unilaterally moving your funds.
Yes, two-factor authentication (2FA) is mandatory for all account access and transaction approvals. We support authenticator apps like Google Authenticator and Authy for generating time-based one-time passwords (TOTP). This adds an essential extra layer of security to your account.
Fees & Payments
Our escrow fee is 0.5% of the transaction amount, split between buyer and seller (0.25% each). This fee is only charged on successful transactions. Standard blockchain network fees also apply for deposits and withdrawals, but we don't add any markup to these. There are no signup fees, monthly charges, or hidden costs.
The minimum transaction amount varies by cryptocurrency due to network fee considerations. For most cryptocurrencies, the minimum is equivalent to approximately $10 USD. This ensures that network fees don't make up a disproportionate part of your transaction.
Transaction times depend on the cryptocurrency being used and current network conditions. Bitcoin transactions typically require 3 confirmations (approximately 30 minutes), while Ethereum and other faster networks may complete in just a few minutes. Once both parties confirm the transaction, fund release is immediate.
Disputes & Support
If a dispute arises, either party can open a dispute case. Our experienced mediation team will review all evidence submitted by both parties, including transaction details, communications, and any relevant documentation. We aim to provide an initial response within 24-48 hours and resolve most disputes fairly and efficiently.
Our Service Guarantee covers up to $500 USD (or the total escrow value if less) for losses caused by theft from our servers, hacking, unauthorized access to our systems, or errors by our systems or staff. This coverage applies only while funds are under our direct control—after we receive them until we settle the escrow.
You can reach our support team 24/7 through multiple channels: the in-app chat system, email at support@peershield.com, or through our contact form. For urgent matters related to active transactions, we recommend using the in-app chat for the fastest response.
Yes, you have the right to appeal a dispute decision if you believe it was made in error or if new evidence becomes available. Appeals must be submitted within 7 days of the original decision and will be reviewed by a senior member of our resolution team who was not involved in the original case.
Still Have Questions?
Our support team is available 24/7 to help you with any questions or concerns. Don't hesitate to reach out.