When you bought bitcoin you locked in the exchange rate at that time.

You will receive the amount of bitcoin that was displayed no matter what the exchange rate is at the time they release it.

So if you were to buy 1 bitcoin at $1000 on Monday and they say they will release to you on Thursday... you will get 1 bitcoin on Thursday regardless of what the exchange rate is that day.

For this reason I have been suggesting in this thread to purchase bitcoin from Coinbase in a slightly different way.

You can first send money from your bank to your "USD Wallet" on Coinbase. It still takes a few days for the ACH to clear, but when it does you will have USD in your account that you can use to instantly purchase bitcoin.

So instead of directly purchasing $1000 worth of bitcoin on Monday you would deposit $1000 in to your "USD Wallet".

On Thursday when the ACH clears you will be able to buy $1000 worth of bitcoin and they will release it to you instantly. Then you are only minutes away from sending to your own wallet, and depositing to Ignition.

With this method you don't really care what the exchange does between Monday and Thursday. No matter if it goes up or down you will get $1000 from your bank to Ignition.


Right, if you purchase bitcoin with a debit or credit card they will also release instantly. The limits are lower and the fees a bit higher than using your bank, but that's the other option if you want them instantly.

And even the 3.99% fee to instantly buy bitcoin is cheaper - and safer - than directly using your card to deposit to Ignition.

I can do 1 BTC cashout every 5 days for $3,000CAD (Around 2,300USD)

Or 1 bank Transfer every 7 days for $4,000CAD

From reading the other thread I'm curious as to what others limits are for BTC? Anyone on Bodog have have different Cashout Limits?

Edit: With that Said my bitcoin got approved in 32 minutes a couple weeks ago from when i requested it, and my banks have been coming into my Acct the following business day or two when It gets approved (Which has been pretty quick too)

31 minutes sorry... please delete photo if it's not allowed in here

CB closed my account. I always go Ignition->blockchain->CB or vice versa - always with blockchain in between.

Anyone have this happen recently? What other sites beside CB are safe to use?

Wonder if this is happening to a lot of people lately? Got this email response when asked why they closed it...."Thank you for emailing us. This email address is currently receiving a high volume of support requests....blah, blah, blah."

How many transaction did you make a month? Approximate size of transactions? Just trying to figure what triggered their suspicions.

Kraken works for a number of people but they require lots of documentation to open an account.

why not use checks, are they that bad these days?

i called support and asked several times if they are having any issue or delays they say no, so i just cashed out 1k with a check. Am I going to have any issues except waiting a couple of weeks? Haven't cashed out since they went to ignition. any advise appreciated thank you. Do not like the bit coin stuff, so check or wire for me.

only one free check every 3months for a max of 3k. some people are making more than 3k in 3months on the site. and BTC is faster and way cooler .

yes but cant you request more than that if you pay for the check?

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.

gotcha, makes sense. I cashout a few thousand a month so no biggie i guess ill just pay the 50 thank you for the information. Are they till delivered via courier? Or reg mail? thanks again

probably still courier but i would suggest looking into using bitcoin it takes some time trying to figure everything out, but its really a lot easier. and the USD is going to collapse in the near future imo and holding onto dollars is a bad investment, another reason to invest in bitcoin aka digital gold.

ive used it has circle all set up etc but that went away, few of my friends has accounts closed etc with so i dont feel like dealing with it. I know if I snap off a mtt and need to cashout 5 figs ill just do a wire or a check and pay the extra. dont want the headaches over verifying info for days etc etc etc.

I did a check cashout last month. Approved in a couple of days and waited about 7 business days more for delivery. Checked showed up via courier. Never got a second email w/tracking number and delivery date. Luckily I was home when he rang the bell since he needed a signature. Foreign check from up north.

Thank you bro appreciate the advice, glad to hear they are still running semi smoothly. what happens if you're not there to sign, you have to go pick it up from the local branch? Also any issues depositing the cash into your bank? Thanks again gents and ladies

they leave a note and try to deliver it again next day and day after then they hold it at their office.

cool ty, I honestly have not been reading the thread and the last 100 or so posts i read are bitcoin related. Have any of you been hearing issues about checks or depositing them in bank accounts or anything like that? No recent processor problems?

my past experiences

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.

also i have several paid cars/mortgages with them and a large saving account so I guess ill use the threats of cancelling since ive been with them for 15 years

I wish I would have known this before I bought my bitcoin. Just to be clear, if Bitcoin crashes I will lose my all of my money even before I had a chance to deposit it to Ignition, correct? That is awful, they should warn people before purchasing Bitcoin.

yeah if you aint a bum like me and have more than the amount you are trying to cash in your account already it wont be a problem. or you could just deposit it in the atm overnight shouldnt be a problem either.

dont fret buddy bitcoin wont "crash". at most you might lose 10% and more than likely you will gain a small amount. ive been watching the price of bitcoin everyday it is very stable. more stable than a lot of hard currencies.

http://www.forbes.com/sites/laurashi.../#524aa50a42a7

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.

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.

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.

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.

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.

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.

Just made a cash out from Ignition to Blockchain, could someone please tell me how to get this money on to my BitPay card? Thanks for all your help!