How to Use Bitcoin for Sports Betting Video Tutorial

[k13]

You thought right.

Did you misread something in my post maybe? I am saying exactly that.

What about Quadriga and Coinsquare or Binance?

[Pinoy-T-X]

If you want to keep it super easy and away from your bank account, then do a google search for "bitcoin ATM near me". You just take along your phone, the machine will scan your mycellium wallet receive address, and you then just pay for how much you want.

This is a bit more expensive than Coinbase/Gemini but leaves you pretty much free of the regualr banking system, if that is your aim.

So if that’s the way to deposit anonymously, how do you do a withdrawal anonymously?

[mrpapageorgio]

So if that’s the way to deposit anonymously, how do you do a withdrawal anonymously?

There are ATMs you can sell through, or you can sell online through LocalBitcoins (think Craigslist but with Bitcoin) and do a transaction where they hold it in escrow until the buyer wires you money through Eastern Union or **.

[Optional]

What about Quadriga and Coinsquare or Binance?

Not sure about the situation with Quadriga being Canadian licensed. But just check their terms and do a search for "gambling". If they say not to be used for that, I'd use a middle man wallet.

Coinsquare is US based, so they will have terms about no gambling funds transfer.

Binance doesn't cash out crypto for dollars as far as I know. So it is not needed there.


BUT... do you really want to send from one third party (the exchange) to a second third party (the book) so if anything does not work out you are not an actual p[arty to the transaction at all if something goes wrong?

Whilst fees and transfer times are low I would be using my own wallet one end in every transaction I make personally.

[ShaneHudson]

Thanks for the tutorial! I'll be taking note of that.

[k13]

Quadriga uses the legacy address, so it won't send to myblockchain wallet since it segwit, looks like bodog uses segwit I think.

What do I do? I'm trying to fund using Bitcoin cash

[Optional]

Quadriga uses the legacy address, so it won't send to myblockchain wallet since it segwit, looks like bodog uses segwit I think.

What do I do? I'm trying to fund using Bitcoin cash

I am not an expert in the best BitcoinCash wallet to choose but I have this one electroncash.org

It's a desktop wallet based on Electrum.

I'd just download that and create a new wallet to send from Quadriga to that and then to Bodog.

[k13]

I am not an expert in the best BitcoinCash wallet to choose but I have this one electroncash.org

It's a desktop wallet based on Electrum.

I'd just download that and create a new wallet to send from Quadriga to that and then to Bodog.

What address is Bodog using?
I'm assuming the new format since it has no 1 or 3 in front of it.

Thanks Opti

[Optional]

What address is Bodog using?
I'm assuming the new format since it has no 1 or 3 in front of it.

Thanks Opti

I have to be honest, I'm not 100% sure what you are talking about with the Segwit addresses, compatibility and BitcoinCash.

And I cant access Bodog from Australia to check their deposit info for you.

My Blockchain.info/wallet does not have a Segwit wallet in it. And I don't think any BitcoinCash wallet offers a separate segwit version.

And if you mean the Blockchain Core wallet. That does not support BitcoinCash at all AFAIK.

Is there a chance you are getting a regualr Bitcoin Segwit address mixed up with Bitcoincoincash?

A BitcoinCash address should start with q

[Optional]

If you are using the blockchain.info/wallet then make sure you click on the Bitcoin Cash wallet link on the side before clicking request to get the receive address. Which should start with a q.

Which you can give to Quadriga (I think)

[k13]

If you are using the blockchain.info/wallet then make sure you click on the Bitcoin Cash wallet link on the side before clicking request to get the receive address. Which should start with a q.

Which you can give to Quadriga (I think)

The BCH address does start with a q on blockchain but i go to quadriga and it says invalid address and they said something they don't support the new bch address yet or something, that it has to be a legacy address....idk..confusing

[k13]

looks like address converter was needed...

[Optional]

The BCH address does start with a q on blockchain but i go to quadriga and it says invalid address and they said something they don't support the new bch address yet or something, that it has to be a legacy address....idk..confusing

q is the "legacy" (old) address


Can you please post a link to convertor and explain a bit more? So I know about this for the next time someone asks?

[Optional]

The BCH address does start with a q on blockchain but i go to quadriga and it says invalid address and they said something they don't support the new bch address yet or something, that it has to be a legacy address....idk..confusing

Sorry, I did not know about this earlier.

You can find out how to obtain a matching "legacy" address for BitcoinCash in your blockchain.info/wallet here:

https://blog.blockchain.com/2018/01/23/cashaddr-bitcoin-cash-addresses/

And why they made this change there.

[k13]

Sorry, I did not know about this earlier.

You can find out how to obtain a matching "legacy" address for BitcoinCash in your blockchain.info/wallet here:

https://blog.blockchain.com/2018/01/23/cashaddr-bitcoin-cash-addresses/

And why they made this change there.

Yeah, you have to go to cashddrr and obtain the legacy address...confusing and a bit annoying at first.

[Optional]

Yeah, you have to go to cashddrr and obtain the legacy address...confusing and a bit annoying at first.

Agree. And the reason they did it was to avoid confusion too!

Anyway, glad you brought it up and I learned about it now.

[Enkhbat]

What other options are there except coinbase?

Can I use cex.io to deposit on 5dimes?

[Optional]

What other options are there except coinbase?

Can I use cex.io to deposit on 5dimes?

You should have a quick watch of the video tutorial in post #1 Enkhbat. (you don't deposit to 5Dimes from either Coinbase or CEX)

Gemini.com is probably the most popular option instead of Coinbase.com for USA people.

If you want a full service exchanger that makes it easy to deposit/withdraw with your own bank account.

Is that what you want?

There are other options of varying complexity if you don't want an "easy" full service exchanger or dont want to use your bank account.

[Pinoy-T-X]

Gemini.com is probably the most popular option instead of Coinbase.com for USA people.

This might be a redundant question that you might have answered in the past, but, what makes Gemini a better option versus Conbase in your opinion.

[Optional]

This might be a redundant question that you might have answered in the past, but, what makes Gemini a better option versus Conbase in your opinion.

I'm not sure it is better in any significant way. The fees are lower and they cover the miner fees when sending bitcoin out from there but the rest of the service is about the same timeframe wise.

I mostly mention it as it's the most equivalent alternative to Coinbase as a service.

[Fire in da hole]

Ok guys, I know I’ve came so late to the party half the people are already gone, but I have a pretty simple question for you pros.

Im looking for the best places (low fees, quick processing times) so that I can buy and sell bitcoin. I’m not planning on using the wallet for gambling as I use a local. I’ve read all this stuff about hackers stealing coin from wallets and planning on putting a pretty good amount of money in bitcoin, so need it to be safe.

Thanks for input in advance

[Fire in da hole]

You should have a quick watch of the video tutorial in post #1 Enkhbat. (you don't deposit to 5Dimes from either Coinbase or CEX)

Gemini.com is probably the most popular option instead of Coinbase.com for USA people.

If you want a full service exchanger that makes it easy to deposit/withdraw with your own bank account.

Is that what you want?

There are other options of varying complexity if you don't want an "easy" full service exchanger or dont want to use your bank account.

This post may be the answer to my question above

[Optional]

Ok guys, I know I’ve came so late to the party half the people are already gone, but I have a pretty simple question for you pros.

Im looking for the best places (low fees, quick processing times) so that I can buy and sell bitcoin. I’m not planning on using the wallet for gambling as I use a local. I’ve read all this stuff about hackers stealing coin from wallets and planning on putting a pretty good amount of money in bitcoin, so need it to be safe.

Thanks for input in advance

If you want to transact regularly, and turn over 20k plus per month, you might find that locating some bitcoin ATMs near you then ringing the owner (phone number on machines is best way to get it as goes to the right person directly) you can negotiate a fairly low fee rate and keep it simple.

If you are trading, and not trying to hide it, it's pretty tough to beat Coinbase.com and their trading exchnage GDAX which you get at the same time when signing up to Coinbase.

[Fire in da hole]

If you want to transact regularly, and turn over 20k plus per month, you might find that locating some bitcoin ATMs near you then ringing the owner (phone number on machines is best way to get it as goes to the right person directly) you can negotiate a fairly low fee rate and keep it simple.

If you are trading, and not trying to hide it, it's pretty tough to beat Coinbase.com and their trading exchnage GDAX which you get at the same time when signing up to Coinbase.

I’m not too worried about hiding it, more looking for security and low fees.

The bitcoin atm is a pretty good idea, I may look at that option. I’m looking to but about 40-50k worth of bitcoin, so at that amount I have to be aware of fees.

[Optional]

I’m not too worried about hiding it, more looking for security and low fees.

The bitcoin atm is a pretty good idea, I may look at that option. I’m looking to but about 40-50k worth of bitcoin, so at that amount I have to be aware of fees.

Your cheapest way to buy that much Bitcoin will probably be Coinbase to get money into a wallet to use, and then buying it on their GDAX public exchange.

As far as security, you do not want to let any third party company hold it for you for a start.

What exactly do you want to do? Buy some bitcoin and hold it safely?

If so, using a paper or hardware "cold" (offline) wallet and storing it in a safety deposit box is the safest way.

[Fire in da hole]

Your cheapest way to buy that much Bitcoin will probably be Coinbase to get money into a wallet to use, and then buying it on their GDAX public exchange.

As far as security, you do not want to let any third party company hold it for you for a start.

What exactly do you want to do? Buy some bitcoin and hold it safely?

If so, using a paper or hardware "cold" (offline) wallet and storing it in a safety deposit box is the safest way.

I don’t want to be a day trader with bitcoin, however I do want to ride the ups and downs. What I mean by that is if bitcoin hits 7k I’ll buy it, hold it until it reaches 10k and then sell. Wait for it to go down a little bit and buy again; so on and so forth.

[Optional]

I don’t want to be a day trader with bitcoin, however I do want to ride the ups and downs. What I mean by that is if bitcoin hits 7k I’ll buy it, hold it until it reaches 10k and then sell. Wait for it to go down a little bit and buy again; so on and so forth.

Personally I use the electrum.org desktop wallet.

I have total control over it and my security and feel comfortable i am secure.

As a new user it might take you a bit to feel that way having your own bank account with 50k in it in your own control. But that's what i would do.

Are you on that google hangouts group we had at the last bash? Maybe we can hook up and can talk about it by voice. Feels like too much to type to get you knowing all the possible options etc from scratch ion forum.

[Fire in da hole]

Personally I use the electrum.org desktop wallet.

I have total control over it and my security and feel comfortable i am secure.

As a new user it might take you a bit to feel that way having your own bank account with 50k in it in your own control. But that's what i would do.

Are you on that google hangouts group we had at the last bash? Maybe we can hook up and can talk about it by voice. Feels like too much to type to get you knowing all the possible options etc from scratch ion forum.

No, I didn’t know about the google hangouts group, how do I get signed up and/or invited?

[TheSideBet]

I'd never watched this video before tonight. The idea's solid, but it badly needs updating:

1. It recommends Coinbase, the only exchange on earth currently being sued by the IRS for its clients' purchase, sales and trading records. Literally, ANYWHERE else on earth is a safer place for a sports bettor to buy his BTC.

I recommend a remake with Bitstamp, incorporated safely outside IRS jurisdiction in Luxembourg, replacing Coinbase.

2. Its "intermediary wallet" recommendation is Blockchain.info. Blockchain's great, but they're changing their business model from Wallet to Exchange, so the same scrutiny other exchanges apply to sports bettors is probably coming soon to Blockchain.

A better option for the "intermediate wallet" might be a private wallet: Electrum and Airbitz are both free and easy to use.

Have you done any USD > BitStamp for Bitcoin > Blockchaininfo> Book deposits yet? Work okay?

I used Coinbase last year and haven't done any recently but was about to try to see if Bitstamp works well.

[PowerMoves]

It's been a while since I've done Bitcoin transactions of any kind. Is Breadwallet still safe for sending and receiving from sportsbooks? If not, what are the better choices out there?

[Optional]

It's been a while since I've done Bitcoin transactions of any kind. Is Breadwallet still safe for sending and receiving from sportsbooks? If not, what are the better choices out there?

Bread wallet is fine. Just make sure you update it to the latest version if you havent used it for a while.

[KVB]

This from blockchain...

https://www.blockchain.com/terms/index.html

TERMS OF SERVICE AND USE

LAST UPDATED: MAY 24, 2018

17. ACCEPTABLE USE...


17.1.2. Use our Services to pay for, support or otherwise engage in any illegal activities, including, but not limited to illegal gambling, fraud, money laundering, or terrorist activities.

Is blockchain cracking down?

Is it time for another go to wallet for book funding?

[marconuts]

Waste of time with Bitcoin. Legal in US now

[Httr]

Can you deposit btc directly from one book to another? Say I wanted to transfer btc from heritage to 5dimes or vice versa. Or do I have to withdraw from one book and transfer to wallet and then deposit from wallet to the other book? Tia

[Optional]

Can you deposit btc directly from one book to another? Say I wanted to transfer btc from heritage to 5dimes or vice versa. Or do I have to withdraw from one book and transfer to wallet and then deposit from wallet to the other book? Tia

Technically you don't have to. It is possible to withdraw from one book and give them a deposit address from another book to send to.

But it creates potential problems. Many books give you a guaranteed price that lasts 15 minutes for example.

It's much safer to withdraw to your own wallet and then send from your own wallet, so you are always a party to every transaction if anything goes wrong.

the extra send won't cost more than a buck.