Quote:
Originally Posted by Sighsalot
why not use checks, are they that bad these days?
Quote:
Originally Posted by Rich Checkmaker
yeah if you want to pay $50 and wait 3 weeks instead of paying no fee and getting your money in 3 days with bitcoin. thats why checks are bad.
And you can withdraw in bitcoin and have physical cash in hand within as little as an hour... for free. Then repeat once every 3 days.
Quote:
Originally Posted by Sighsalot
yea i did read that, ive heard people having issues like that but rarely so i guess ill have to take my chances on it and hope they dont hold it for 3 months lol.
Or if you do sell on the exchange and withdraw to your bank you'll get the money ACH transferred in 1-3 days.
The money is coming from a licensed, legal, US based bitcoin exchange instead of an unknown payment processor. No foreign check, no need to go to the bank, no chance it gets sent to collections, no chance that it bounces.
Personally I think that seems worth it to figure out how to withdraw in bitcoin. It might seem complicated but it's honestly not that difficult once you do it.
I would highly recommend getting the Bitpay debit card. Withdraw from Ignition to your wallet, send from your wallet to the card. Too easy. The bitcoin is converted to USD and stays as a fixed USD amount on the card.
Then use the card like any other prepaid debit... buy stuff with it or withdraw the cash.
Quote:
Originally Posted by Online Veteran
EndTheFed, I now see what you are talking about with depositing US dollars into CB. If I would have known, I certainly would have done it that way. I hope BTC doesn't crash between now and when they will release the funds to me. Rich Checkmaker, thanks for posting that article, it does make me feel a little better.
Yeah, they do it that way because people that want to buy and hold bitcoin want to lock in a certain exchange rate. If I see that bitcoin is at $700 and I think that seems low then I want to buy right now and lock in that $700 rate... even if I have to wait to actually receive the bitcoin.
The good news is that so far you must have earned a little profit. Will root for bitcoin to keep going up for a few days until you can deposit.
Quote:
Originally Posted by cmitch
I made 2-6 transactions/month. Several withdrawals were fairly high 4 figures.
I think the trigger might have been that I bought BTC to bet on the super bowl and went CB->Blockchain->Nitrogen. I'm guessing they were watching transaction patterns around the super bowl.
Hmmm, interesting.
The times that I've seen people report their accounts closed for gambling they have also played on multiple sites... so it's difficult to tell which site raised the red flag.
I guess we'll know if others here end up having the same thing happen. I don't think Coinbase will tell you any more info but if they do keep us updated.