Quote:
Originally Posted by borg23
This stuff may be basic for most of you and have been answered before but:
I've never used bitcoin before and would like to get all of my money of Bovada once we can't play poker anymore on there.
1)what do i need to get money off using bitcoin?i assume it's linked to a bank account but people are mentioning coinbase,block chains etc. Is this stuff easy to use?
2)bitcoin prices can fluctuate a lot so how can i get my money off without getting ****ed by a massive devaluation of bitcoin?
3)anything else a novice like me should know?
Thanks
During the time that bovada is processing your withdrawal, you aren't subject to any fluctuations. But once the bitcoins hit your wallet then fluctuations can occur. Just check your emails regularly and transfer your bitcoins as soon as you can to say Circle. With Circle, I have selected that my bitcoins automatically get changed into U.S. dollars. A couple of withdrawals ago, I withdrew at the time that bitcoin nose dived. I didn't pay close attention to when the transfer took place so I lost 20 dollars on a 1000 dollar withdrawal. No big deal, especially since it could have just as easily went the other way.
Bitcoin withdrawals are great once you've done them once or twice. You shouldn't run into any problems. Watch EndtheFeds video and everything should be fine.
GL