Bitcoin withdrawl

**mrpapageorgio** · 03-26-19, 08:40 PM

I've usually seen it in my bank account next business day as long as the withdrawal is done before 7et.

**cowboyinscotland** · 03-27-19, 02:29 AM

What is the fee for a USA player if you withdraw blockchain>>coinbase>>bank?

say 1000 dollar withdrawal, how much do you actually receive?

**mrpapageorgio** · 03-27-19, 02:39 AM

Originally posted by cowboyinscotland

What is the fee for a USA player if you withdraw blockchain>>coinbase>>bank?

say 1000 dollar withdrawal, how much do you actually receive?

Assuming you receive the proper value in Bitcoin from the book and the price stays relatively the same, if you sell through the retail front, it's 1.49% which would be about $15 so about $985.

If you sell through their investor platform Coinbase Pro as a market order, it's only .3% or about $3.

**stevek173** · 03-27-19, 03:03 PM

I am new to Bitcoin and am considering Coinbase as a platform between Paypal and poker. It looks like no fees to and from Paypal.

From the outside it looks like the best option, massive fees for doing this at localbitcoins etc. and breeding grounds for scammers.

Some have told me CB maybe not the best option, but I'm not seeing anything better for not tying in a bank account, only Paypal.

Any issues you guys can foresee that I might not know about?

**eaglesfan371** · 03-27-19, 03:09 PM

Originally posted by stevek173

I am new to Bitcoin and am considering Coinbase as a platform between Paypal and poker. It looks like no fees to and from Paypal.

From the outside it looks like the best option, massive fees for doing this at localbitcoins etc. and breeding grounds for scammers.

Some have told me CB maybe not the best option, but I'm not seeing anything better for not tying in a bank account, only Paypal.

Any issues you guys can foresee that I might not know about?

Depends on how much in bitcoin you want/need.

If you're buying a couple hundred $ or less, just download the cash app and load with a debit card. Coinbase works too but its a lot slower whereas cash app is quick. You will have to use a middle wallet though or will get banned by cash app quick (happened to me). Download the blockchain app for a basic bitcoin wallet. Make sure you use a bitcoin wallet and NOT bitcoin cash. Two different currencies.

Deposit: Send from cash app / coinbase to blockchain wallet, send from blockchain wallet to sportsbook
Withdrawal: Send from sportsbook to blockchain wallet, send from blockchain wallet to coinbase/cash app

If you're buying $1000+, especially $2500+, I would look into wiring or ACH money to an exchange. Wires are same day, ACH takes a few days.

**Optional** · 03-27-19, 03:10 PM

Originally posted by stevek173

I am new to Bitcoin and am considering Coinbase as a platform between Paypal and poker. It looks like no fees to and from Paypal.

From the outside it looks like the best option, massive fees for doing this at localbitcoins etc. and breeding grounds for scammers.

Some have told me CB maybe not the best option, but I'm not seeing anything better for not tying in a bank account, only Paypal.

Any issues you guys can foresee that I might not know about?

I think the main reason people seem concerned about Coinbase relates to the DOJ asking them for a bunch of records a few years back.

But apart from that they seem fine.

**stevek173** · 03-27-19, 03:13 PM

Ty Eagles, I appreciate it.

This is just a $500 splash man, to test out a few things. Looking into Cash app and Blockchain now.

**stevek173** · 03-27-19, 03:14 PM

Originally posted by Optional

I think the main reason people seem concerned about Coinbase relates to the DOJ asking them for a bunch of records a few years back.

But apart from that they seem fine.

Very helpful, tks Opti.

**stevek173** · 03-27-19, 03:56 PM

Originally posted by eaglesfan371

Depends on how much in bitcoin you want/need.

If you're buying a couple hundred $ or less, just download the cash app and load with a debit card. Coinbase works too but its a lot slower whereas cash app is quick. You will have to use a middle wallet though or will get banned by cash app quick (happened to me). Download the blockchain app for a basic bitcoin wallet. Make sure you use a bitcoin wallet and NOT bitcoin cash. Two different currencies.

Deposit: Send from cash app / coinbase to blockchain wallet, send from blockchain wallet to sportsbook
Withdrawal: Send from sportsbook to blockchain wallet, send from blockchain wallet to coinbase/cash app

If you're buying $1000+, especially $2500+, I would look into wiring or ACH money to an exchange. Wires are same day, ACH takes a few days.

My debit card is Paypal and as a result didn't work on Cash App so looks like I'll be waiting out Coinbase.

In case Coinbase's delays suck I just opened up a couple bank accounts in the area, so this whole thing should eventually work out.
Definitely appreciate your insights man.

**eaglesfan371** · 03-27-19, 04:41 PM

Originally posted by stevek173

My debit card is Paypal and as a result didn't work on Cash App so looks like I'll be waiting out Coinbase.

In case Coinbase's delays suck I just opened up a couple bank accounts in the area, so this whole thing should eventually work out.
Definitely appreciate your insights man.

Cash app does not post their "fees" but if you compare their "exchange rate" to gemini/bitstamp/coinbase market prices, when I used them 1-2 years ago, it was 1.5% fee overall (they have a spread involved in their exchange rate).

**stevek173** · 03-27-19, 04:56 PM

Good deal man, I'll keep them in mind for when the other debit cards show up - hopefully at that point re-depositing will be the last thing on my mind.

**mrpapageorgio** · 03-27-19, 06:56 PM

Originally posted by stevek173

My debit card is Paypal and as a result didn't work on Cash App so looks like I'll be waiting out Coinbase.

In case Coinbase's delays suck I just opened up a couple bank accounts in the area, so this whole thing should eventually work out.
Definitely appreciate your insights man.

From my experience, Cash app needs a bank debit card.

**stevek173** · 03-27-19, 07:03 PM

Yup. Prepaids don't work, or Paypal.

It's good though I've been meaning to get some bank accounts out here at some point anyway so it works.

**stevek173** · 03-28-19, 07:20 PM

Got Coinbase up, it has a max debit card purchase of $50

No Paypal Deposit, just withdrawal.

ACH $1k

Wire $250k

But it says 19 day hold to send off Coinbase unless it's Card (again $50) or wire.

So I guess Wire it is, if I still deal with them.

**Optional** · 03-28-19, 07:22 PM

Wire is going to be your best choice at Gemini too.

Same day or overnight crediting and no holds.

My bank only charges $15.

**stevek173** · 03-28-19, 07:24 PM

Gotcha, thanks Opti.

So the 19 day hold means that I cannot purchase BTC with it for 19 days? That seems absurd if true, just clarifying that that's what that means.

**Optional** · 03-28-19, 07:29 PM

Originally posted by stevek173

Gotcha, thanks Opti.

So the 19 day hold means that I cannot purchase BTC with it for 19 days? That seems absurd if true, just clarifying that that's what that means.

I think that is referring to ACH transfers. Double check but I am pretty sure a wire is available to move straight away.

And you can purchase and trade bitcoin on their exchange during the hold time if you use ACH. You just can't send it anywhere outside their exchange.

**stevek173** · 03-28-19, 07:32 PM

Yes it is ACH, ty.

I want to buy BTC and send straight to poker is all. No desire to play the BTC game, just don't want to sweat a check from an online poker room which is what will happen if I deposit straight via debit card.

So wire it is.

Appreciate it man.

**Optional** · 03-28-19, 07:37 PM

After you have completed the wire buy, maybe do a small ACH deposit to get the first one done. The hold time will go down to 5 days after they clear you.

And yeah 19 days seems ridiculous to me too. It's been as high as 25 days quoted for some people

**stevek173** · 03-28-19, 07:38 PM

Gotcha

**eaglesfan371** · 03-28-19, 08:04 PM

Originally posted by stevek173

Gotcha

Sign up with Gemini, ACH takes 5 business days. Can do max of $500 in a rolling 24 hour period. If you deposit today, the funds will be available to withdraw bitcoin next Thursday roughly. 1% trading fee. So your $500 to BTC will cost you $5.

If you want it quick, $500 cash deposit on localbitcoins or bitquick. Bitquick never had an issue, localbitcoins you can't go wrong with any trader 500+ trades. You'll likely pay 5-10% fee that way, so your $500 to btc will cost you $25-$50.

Wiring under 1k is dumb due to the $25+ bank fee.

**stevek173** · 03-28-19, 08:15 PM

Originally posted by eaglesfan371

Sign up with Gemini, ACH takes 5 business days. Can do max of $500 in a rolling 24 hour period. If you deposit today, the funds will be available to withdraw bitcoin next Thursday roughly. 1% trading fee. So your $500 to BTC will cost you $5.

If you want it quick, $500 cash deposit on localbitcoins or bitquick. Bitquick never had an issue, localbitcoins you can't go wrong with any trader 500+ trades. You'll likely pay 5-10% fee that way, so your $500 to btc will cost you $25-$50.

Wiring under 1k is dumb due to the $25+ bank fee.

Gotcha, thanks again bro

**pattymayo** · 04-01-19, 07:26 PM

I’ve been purchasing bitcoin with my debit card through Coinbase, then sending to blockchain then to book.

Is Cashapp a cheaper way to purchase and send bitcoin to a wallet? I’m not purchasing huge sums, maximum would be a couple hundred

**eaglesfan371** · 04-01-19, 07:30 PM

Originally posted by pattymayo

I’ve been purchasing bitcoin with my debit card through Coinbase, then sending to blockchain then to book.

Is Cashapp a cheaper way to purchase and send bitcoin to a wallet? I’m not purchasing huge sums, maximum would be a couple hundred

Cashapp 1.5% fee (they say no fee but their market conversion price is 1.5% more when buying), generally instant. Used them roughly a year ago. Have not used coinbase in 3 or so years so not sure what their fee is.

**pattymayo** · 04-01-19, 07:36 PM

Cool. Probably a bit cheaper than coin base

In terms of withdrawing btc from cashapp to a debit card/checking account, what’s that process like?

**sync2** · 04-01-19, 11:45 PM

I am about to request a bitcoin payout. Never use it before. what are the steps to withdraw from coinbase to bank in the usa?
Do I send from bitcoin wallet to usd wallet, then usd wallet to bank? is this right?
is it safe? will the bank red flag my account?
thanks for the answers!

**Optional** · 04-02-19, 07:00 PM

Originally posted by pattymayo

Cool. Probably a bit cheaper than coin base

In terms of withdrawing btc from cashapp to a debit card/checking account, what’s that process like?

You can't sell bitcoin from outside sources through CashApp. It's for buying your bitcoin.

Originally posted by sync2

I am about to request a bitcoin payout. Never use it before. what are the steps to withdraw from coinbase to bank in the usa?
Do I send from bitcoin wallet to usd wallet, then usd wallet to bank? is this right?
is it safe? will the bank red flag my account?
thanks for the answers!

Once you send your bitcoin to Coinbase it goes into a bTC wallet there.

You then need to sell your BTC in exchange for US$.

You can pay them a fee to do that for you, or transfer your bitcoin to the COinbase Pro trading exchange and do the trade yourself and pay a much lower fee.

Once the US$ is in your coinbase wallet you can request a transfer to your bank account.

Do a search on your bank and bitcoin. No idea who they are or what their policies are.

**stevek173** · 04-03-19, 02:29 PM

Ok so here's what we have today.

Get the debit card from the bank, deposit, and go for Cash App. Cash won't take the money. No reason why. Two texts form my bank asking me to verify, I verify both. Transactions fail. Probably on my bank's end, I guess.

I decide screw it, I can just deposit straight from my card to Bovada. That doesn't work. Probably on my bank's end, I guess.

So I decide, ok, let's do a wire from Coibase. Guess what - their minimum wire is $5,000. Umm yeah, this is a splash, not a dive - and you're not holding my money for 16 days which is what they want for a bank transfer.

So then I decide ok let's see what Gemini can do, I've heard good things.

We'll see what happens there.

Blockchain verified quick so that's cool I guess, just need to confirm a level one wallet that won't take 3 weeks or need $5,000 to do it.

Sincerely,

Vintage Pre Black Friday Online Poker Player

P.S. Wtf is all this sh*t"? I just wanna play some poker, mang

**pattymayo** · 04-03-19, 04:20 PM

Steve, why not just link your debit card to Coinbase and purchase coin that way?

**stevek173** · 04-03-19, 04:59 PM

$50 limit there

**pattymayo** · 04-03-19, 05:36 PM

Originally posted by stevek173

$50 limit there

Why?

**mrpapageorgio** · 04-03-19, 05:43 PM

Originally posted by pattymayo

Why?

I'm guessing he's a newbie on there and that's his limit.

Steve, make sure you get verified on Cash App before you can withdraw Bitcoin.

**stevek173** · 04-05-19, 04:01 AM

Originally posted by mrpapageorgio

I'm guessing he's a newbie on there and that's his limit.

Steve, make sure you get verified on Cash App before you can withdraw Bitcoin.

Good looking out, thank you.

The card from this bank won't work with the Cashapp so time for a different bank I guess.

**sync2** · 04-06-19, 09:10 AM

last question: is bitcoin stable enough to keep it in your wallet for a month or two? I’m planning to keep it in my wallet just in case I have to deposit back to the sportsbook. Thanks!