Just got my bitpay card cashing out for first time just making sure it goes like this ignition/blockchain/bitpaycard..Also was wondering when I deposit can I use the bitpaycard for deposits also. And if so does it go bitpaycard/blockchain/ignition? If so is there any fees for depositing. Sorry I know this has been answered several times but cant find it thanks.

If you don't want to use a bank account at all you can get the Bitpay card. You deposit bitcoin to the card and it's converted to dollars.

The card costs $10 and you have to pay for it with bitcoin. If you don't have a way to buy bitcoin you can withdraw $20 worth at first from Ignition and use that to get the card.

The first thing you need to do to get started would be to get a bitcoin wallet. I suggest starting with a Blockchain.info wallet. Signing up for that is free and you only need an email.

Watch the bitcoin deposit and withdrawal videos in this post:

http://forumserver.twoplustwo.com/sh...ostcount=25344

The videos show how to buy and sell on an exchange... but can still give an overall view of the process and how to request a withdrawal and send/receive bitcoin.


Yeah, Ignition -> Blockchain -> Bitpay card.

Once you send bitcoin to the card to be converted to USD it can't be converted back in to bitcoin.

So the card is only good for withdrawing and going from BTC to USD. If you want to deposit bitcoin to Ignition you'll need an exchange or some other way to buy bitcoin.

What is the average wait time to go from ignition > blockchain once you get confirmation email from ignition that is was processed?

E-check went into my bank today.

Process took 3-4 business days (Bovada -> Blockchain -> Coinbase -> Bank). It took at least 1-2 days for the money to clear "pending" in Blockchain after Bovada gave me confirmation that it was processed.

Should I be worried if I don't see it pending anywhere? It's only been about 2 hours since Ignition confirmed the withdrawal as processed.

I don't think so. iirc it took a couple hours to show up in blockchain as pending.

yeah, but how do you get a purple name and what does it mean?? are you like sam jackson in the star wars movies or something??

http://screencrush.com/star-wars-sam...le-lightsaber/

All set, it's now pending at coinbase. Thanks for the info

BTC req-2/6 2am
Rec(blockchain)-2/6 12pm

Took six hours to confirm from blockchain to bitpay with .25 miner fee.
Its showing a $5 miner fee attached to Ignition> blockchain transaction which confirmed within minutes.

On an $800 withdrawal from Ignition > Block > CB > bank I lost about 20$. Does that sound right?

It's been happening for more than 2 years. It's pretty common for sites payments to slow down noticeably around the super bowl. Not just Ignition, but all offshore US sites. And not just them, all betting sites have a tendency to slow down this time of year.

It's an issue with payment channels clogging up, lack of workers, blah blah blah. Nothing to worry about though.

Well, the 1.5% to coinbase would be $12. The other $8 could easily be slippage from bid/ask spreads coupled with the natural fluctuation in bitcoin prices between acquiring your coin from Ignition and the time that you cashed it in on Coinbase.

Sometimes, it goes in your favor and you get more. All works out in the end.

tldr; Standard


--
Kahn

Hello,

Can someone please point me in the right direction...

I have a Canadian Bodog a/c. Missed the boat on the ignition switch in Sept. Bodog support # is out of service (Im guessing since sept 30th).
Spoke with Ignition and they cant/wont help.

I can still log in and play. Bitcoin withdrawal seems available but it wont accept my mother maiden name which I obviously know. Strange...

My options?

Thanks in advance.

mid 4 figs withdrawal

req'd 2/7 11am
rec'd 2/7 3:30pm

used GDAX to convert to USD, super easy once setup thru coinbase. Was able to get BTC to USD for ~0.2%

I am not receiving the SMS 2-Step Verification from Coinbase to log into my account. Anyone having this problem? What can be done? Is this something I should worry about? Still sort of a newbie to all this BTC stuff.

In my experience they have sent the transaction at the same time as the email.

On average it should take 10 minutes from the time they send the transaction for it to be confirmed in your wallet... assuming they use a large enough fee.

Although it averages 10 minutes there is variance. Sometimes it will be 1 minute, sometimes over an hour. If you want to read more detail and see the math behind how bitcoin confirmation times work check here:

https://en.bitcoin.it/wiki/Confirmat...irmation_Times

Yeah, waiting for a couple days for the transaction from them to confirm isn't normal and means they didn't use a large enough fee. Hopefully they are learning.

Yeah, you can lower the fees by using their exchange or one of the BTC debit cards.

The slight fluctuation in bitcoin exchange rate can't be avoided... but like Kahn said it goes both ways and you're just as likely to make a few bucks as are you are to lose it.

The only thing you can do is ensure your transactions confirm as quickly as possible to reduce exposure to fluctuations.

Yes, worth it for people doing larger withdrawals and that feel comfortable going that little extra step.


For some reason Blockchain.info's wallet doesn't always suggest a fee high enough to get your transaction confirmed in the next block.

So when you send bitcoin from your wallet you should click on the "Advanced Send" button and manually adjust the fee a little bit higher.





As you can see it automatically gives a certain fee, and will tell you an estimation of how many blocks it should take to confirm. When you change the fee amount it will update the "Estimated confirmation time".

If you really want to be sure that your transaction confirms as quickly as possible, even during busy times, I would suggest using a fee of at least 0.00035... unless it advises you to go even higher.

During most standard times you will be overpaying by a few cents, but for our purposes here I think that's worth it in order to lower the risk of being stuck waiting for hours.

requested: 2/4 ~11AM
received: 2/5 6:59AM (blockchain confirmation)

low four figures via bitcoin into my blockchain.info/wallet

A+ would bitcoin withdraw again.

So I cashed out from Ignition directly to Coinbase by accident. I always go through blockchain, but had a brain fart. Now coin base won't let me cash out without providing more information ( job title, what I use coin base for, ect.).

What's my play here? I'm a professional poker player btw.

Thanks for any help in advance guys!

thanks for taking the time for the detailed answer i appreeciate it !

Just clarifying what I think I have gathered from reading the last several dozen posts... bitpay is an acceptable replacement for circle, even if I don't get the card (which I likely will)?

Bitpay is a great option but it means that you need the card... that's what it is. They don't send to your bank.

The closest replacement for Circle to have the money go to your bank account is Coinbase.

Ah, I think I see. The card is what funds are deposited to and debited from?

Sent from my SAMSUNG-SM-G891A using Tapatalk

You deposit bitcoin to the card and it's converted to USD.

From there it stays as a fixed USD amount. The card works like any other prepaid debit card so you can use it to buy stuff or withdraw cash.

Thanks a ton. I trust that I shouldn't be freaking out that bit pay is asking for my SSN?

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No, they're licensed so they have to go through the same KYC stuff that the exchanges do.

Hey EndtheFed, you seem to have a lot of knowledge on subject. Any chance you could respond to this? I just want to be careful with my answers to their questions because it's $5k and I'm not sure their stance on bitcoin from gambling sites. Like do they close your account and take your balance if find out? Can they even see where bitcoin coming from? I assume that's why we go through blockchain first.

Really appreciate your time if you choose to respond to me.