My last 2 cash outs were in my wallet unconfirmed when I sent to bitpay card with an increased miner's fee. So when confirmed from site , automatically sent and confirmed from wallet. No reason not to use a wallet between site and card/exchange.

You could go check out the player to player transfer thread. I think some guys are swapping bitcoin there.

I was able to make a deposit to ACR using BTC with coinbase about a week ago. I am attempting to make a small with draw the same way. As of now its still pending and I'm talking to support to see what the hold up is.

Of course ACR is giving me some BS about it taking 72 hours to process a BTC cash out, but of course deposits are instant. There really isn't even any excuse, anyone familiar with BTC knows that sending BTCs to another wallet literally takes under a minute; it of course takes a hour or so to get confirmed on the blockchain, but they are saying 72 hours to even initiated the BTC transfer. There is no account to verify, nothing that would explain the 72 hour wait other than the fact that they want you to lose what ever is left on the site before the cash out is processed so that you end up cancelling the cash out. Support did say they would try and push my cashout through since they also informed me that the 72 hours does not include the weekend. This also makes no sense when it comes to BTC though, since there is no need for any banking services that would be closed.

some non-bankers get weekends off too

Has a lot to do with the amount of transactions the blockchain is processing and the fees being placed on the transactions. Your wallet is probably putting a big enough fee on the deposit to make sure your transaction gets put in a block soonest. The poker site most likely uses as small a fee as possible so that keeps the miners from picking it up as fast.

I really don't think any of these sites are trying to time the Bitcoin price, they are just stingy with the fees.

Excuse my ignorance.

I have not used Bitcoin in a while, when I did I used Coinbase/Circle --> Blockchain.

What other wallets exist besides Coinbase where I can purchase bitcoin directly using my Visa? My issue is I need to purchase more than the $50 limit Coinbase is offering me.

Thanks in advance.

Hello,

I decided to try and play online again, created an account in Americas Card Room and tried to deposit using a Netspend Visa prepaid debit card. It would not work then it said pre approved and call a number to finalize deposit. I called and they said it would not go through, I tried like 2 more times then they sent me an email and said Visa was being removed as a deposit option. Now bitCoin is the only way i can deposit, I have no idea how to use BitCoin or what to do can someone please walk me through the process, step by step.

Thank You

Went through something similar. Now I find bitcoin to be the quickest and most convenient deposit/withdraw option.

When you purchase btc, you'll need a unique wallet to send/receive your funds. First create an account at a bitcoin exchange site such as coinbase. There you can easily buy/sell fiat, bitcoin and other cryptocurrencies by linking your bank account. You will have the option to create as many unique btc wallet addresses (long strings of characters) as you want.

Once you purchase btc, it will appear in your selected wallet address instantly. There, you will have the option to send btc payments by inputing a receiving wallet address. You can also receive payments to a wallet address of your choice. When sending and receiving btc payments, it usually takes a relatively short amount of time to get confirmed on the blockchain (basically a ledger of all bitcoin transactions worldwide). There will be a small miner's fee for each transaction, but this amount is negligible when compared to fiat transaction fees.

Note that coinbase does not allow transactions to/from online gaming sites. For this reason you will need to use an intermediary bitcoin wallet when cashing in and out of ACR or another bitcoin poker site. I suggest creating an account at blockchain.info for this. So the steps would be:

Deposit: coinbase (linked with bank account) > blockchain wallet > pokersite wallet
Withdrawal: pokersite wallet > blockchain wallet > coinbase (linked with bank account)

If you don't want to use an exchange site like coinbase, you can also find a bitcoin ATM near you to buy some. You will still need a bitcoin wallet address (accessible on your phone) however. Most bitcoin ATMs only sell btc, but there are occasionally some two-way ATMs that buy and sell btc. There are a couple other options as well such as using localbitcoins or swapping funds with a player you trust on twoplustwo.

GLHF

Not sure if this has already been discussed somewhere else but could someone comment on what to do in my situation?

I recently did a bitcoin withdrawal from Ignition for around 5k. I went from Ignition > Blockchain > Coin base > bank account.

My bank is now asking what this large deposit is from because I am getting a mortgage for a house. What should I tell the bank? The bank deposit clearly says Coinbase so I have to tell them it was Bitcoin.

I am not sure if they will request detailed statements from Coinbase. Will there be anyway to link this back to poker? I was going to say I held the Bitcoin as an investment along with selling some stuff online.


Thanks soo much for anyone that can help or point me in the right direction.

Did you sell a car, caravan, work of art, etc, recently?

Sorry if this is obvious but was that meant to be sarcasm? ^^^ I considered telling them I sold stuff online but was worried they would ask for more details.

Thanks again for any help.

In my own case, I deposited £10,000 cash in my bank's branch. The cashier asked me where it came from, as, presumably, she is supposed to, and I told her I'd sold a caravan. That response satisfied her, and that was the end of it.

Ok thanks. My situation is a little different because I linked the online Bitcoin wallet (Coinbase) to my bank account. The money was deposited directly so it is different than a check.

I hope I didn't make a big mistake doing it that way. Didn't want to risk a check not going through. I appreciate the advice and help.

Nothing wrong with telling them you held bitcoin as an investment and cashed it in to help with the down payment on this new mortgage. I doubt they will want to trace your bitcoin transactions all the way to the source. On a mortgage they are only looking at big deposits to make sure you are not borrowing money to make the down payment or increase your net worth to make the application look better.

COKE_MAN thanks for explaining that. We have plenty of money in our account to cover the down payment and have some left over. They are probably just doing their homework.

Have been using coinbase with no problem. Got an email today saying effective 7/31 they were no longer taking deposits or withdrawls. Anyone know about this? An other suggestions for funding blockchain wallet?

It's a temporary hold on deposits/withdrawals due to changes to the bitcoin network. You should avoid making any transactions starting on August 1 until everything is back to normal.

Then who can you use to deposit small amounts on new site?

Can someone help explain to me how I can withdrawal from one online poker site onto bitcoin then deposit onto another site.
I don't have a bitcoin account and don't want to link my bank account if it's not necessary. I just want to get funds from one site to another.

Most sites require you to deposit via bitcoin before enabling the withdrawal option. If that's not the case for you, then all you need is a wallet (Blockchain) to withdraw bitcoin to, then transfer to another site. If you have to deposit first, then have someone transfer bitcoin to your wallet, then deposit on site to unlock the withdraw option. Otherwise, you'll have to link your bank account to an exchange in order to buy bitcoin. Then send to your wallet, then to site.

So if you can withdraw with bitcoin on site A, you can easily play on site B.

Site B will have a bitcoin address to deposit to and site A will want a bitcoin addy to process your withdraw.

Copy and paste.

Going to blockchain is unnecessary because you will incur a fee.

I suppose that might work as long as the receiving site doesn't have a time frame (window) for the deposit. I would just incur the miners' fee to eliminate any problems.

Your method works as well.

The poster wanted the easiest method which is mine. All receiving sites are one confirmation so it is never on their side.

When you say eliminate any problems, I am curious as to what problems could occur with my method?

By your way, the poster has to learn about blockchain wallet etc. then send and wait and then send to a new site for what reason?

they could have a bad experience if bitcoin happens to plummet in 12 hours by your method. mine minimizes flux and fees.

Besides having a window to complete the deposit process- which may or may not be a problem- I recall this same poker site to poker site question being posed before. May take a day or two to find that post, but I recall the advice against doing direct site to site transfers made a lot of sense to me. I'll try to find it by Tuesday.