Why the extra level of indirection?

pokersite >>> blockchain.com >>> kraken.com >>> bank account

What are the fees generally?

It cost me 11 cents to transfer from my blockchain wallet to my kraken wallet, and it cost me 10 dollars to wire the money to my bank account (about 15k). Was there in 5 days.

Trading the bitcoin had a fee for each transaction, but even the biggest trades never cost more than a couple dollars. Its great

Why is there always the need for two services? Is one the wallet and the other an exchange? Is there no one service like bank --> coinbase --> poker --> coinbase --> bank?

From what I understand some exchanges don't want your bitcoin coming from a gambling site so just use a wallet to transfer in between to cover your ass

I thought Coinbase WAS that exchange.

It should be

Bank Account > Coinbase > 2nd Wallet > Poker site

Correct ??

Reason being that Coinbase is regulated in The USA and may not want the exchange between Coinbase and a "Gambling" site.

Or at least, thats what I thought....so you a 2nd e-wallet as a go between.

Eh, before I read all this I did a WD direct from CB to my Bank Acct, is that going to be an issue? 1st WD attempt using BC/CB.

Since Circle no longer does Bitcoin at all and refers to Coinbase. I opened a Coinbase account, I ran VISA buy into Coinbase for BTC, then transferred BTC payment to pokersite. Worked like a charm...

As far as withdrawal, I have credit union hooked into Coinbase and will go poker site --> coinbase --> bank account. I have not done it yet, anybody see an issue with this ?

Thanks

No go poker site >> wallet >> coinbase >> bank for withdrawals and bank >> coinbase >> wallet >> pokersite for deposits.

Going direct to or from pokersite and coinbase, you may find coinbase closing your account.

Question about BitCoin: What bitcoin site/service would you guys recommend me buying my bitcoins on? I plan on buying a small amount at first ($100) until I have some more money next month but I wanted to get some additional money down on WPN. Just wondering if 2p2 considers one superior to the others or easier to deposit on poker sites with. Also, I'll obviously want to sell my bitcoins for USD, eventually.

Thanks

You are in America. Coinbase is your only real option for USD to BTC and vice versa.

--
Kahn

Why is that the case? I also see xCoins.io and Circle that look like they serve me. Why would I want to avoid these and go with Coinbase?

Thanks

Def coinbase

Well, Coinbase it is. I'd still like to know the details why, though. If only out of general curiosity and so there's a fresh record of the discussion on here for anyone else wondering.

Anyway, I set up the phone verification and now I'm doing the card verification so I should be able to use the service tomorrow or the next day. I need to get money onto BCP.

There is plenty of discussion in the WPN bitcoin thread as well as the Bovada/Ignition and Merge Deposit/Withdraw threads.

How do I buy bitcoin with Netspend Prepaid? My Netspend no longer works on ignition casino.

Kraken is another choice.

If Bitcoin isn't paying your rent I really like Gyft for getting from BTC to USD. Obviously gift cards aren't quite as nice as cash but you get 3% for cashing out rather than paying a fee and they have enough options that I can just spend what I was going to anyway.

Coinbase charges 1.5% to deposit to a bank account. Does Kraken or anyone else have a better fee?

Kraken has a 0.16% or a 0.26% fee (depending on maker / taker of trade) and free SEPA withdrawals. So yes, for EU that is easily better. Not sure about US (or rest of world) customers - but probably cheaper too.

I thought Kraken was a flat $10 withdraw fee. That might just be for CAD

Yes, it depends per country. SEPA is fixed €0.09 fee (so practically "free".)

Just found whole overview:

Thanks for the info guys.

I'm sure this answer is posted somewhere but ive searched this post for 15 minutes and still don't see how players are ok with bitcoin since the value of their money can fluctuate. I'm definitely missing something here. So, you can buy 100 dollars worth of bitcoins, turn it into 500 playing, meanwhile value of bitcoin lowers, and you have to cash out like 400 or whatever instead of 500? Also, when you cash out, can the value lower mid transaction so you end up with less money than you hoped to cash out for?

That all must be wrong somehow because I don't see how everyone likes bitcoin so much if you don't really ever know how much money you have or are playing for.

Thanks