I have used this for payouts a few times already, really nice to have this option.

can anyone pls explain why?

Has anyone tried that successfully - sending bitcoins from one site to another directly?

I tried to send from one WPN skin to another, it didn't work. WPN demands a deposit to be an exact bitcoin amount, but you can only withdraw a dollar amount, so no way to match the bitcoin amount for deposit.

There's really no need. Withdraw to your blockchain wallet, then make the deposit from there for the exact bitcoin amount as requested. EZ game.

Coinbase doesn't want to 'do business' with gambling sites because the US Government is ridiculous.

to save on the fees
to save time
etc

why do extra work if you can do it directly.. if you can, of course..

I would never do this. You should always send coins from an address you fully control. What if there is a problem on the deposit side, and they decide to kick the coins back to the sending address?

Yeah, if Coinbase knows that you did a "gambling" transaction they can close your account.

(Which as a side note is why it's a good idea to have an account set up on both Coinbase and Circle ahead of time. If one gets closed you can just use the other right away.)

Sending to a separate address in between makes it a little tougher for them to detect, and adds plausible deniability for you. They can't be sure that you owned the address in the middle.

^ That is one important reason.

Also, even a generous fee for the transactions is only gonna be about 2 cents.

And the extra time saved is only gonna be about 10 minutes on average.

^^ So, yes, it really is worth it to just do this every time.

Thanks for the explanations.

However, the fee is def not 2 cents. I wish I could figure out how exactly WPN deals with bitcoins, but from my several experiences it seems there are some hidden fees, or different exchange rates or sth. I *always* lose a couple percent, and it can't be variance, since it's very quick. I paid $507.38 to deposit $500, $223.40 for $220, etc.

Still small, of course, so doesn't bother me much, just saying..

Ah yeah, there is definitely a chance that the exchange rate they are using is different than where you bought bitcoin from. When they first started I compared to Coinbase and it was pretty close, but haven't checked again in a long time.

The 2 cent fee I was talking about is the "mining fee" that you pay in order to process a bitcoin transaction.

A fee of 0.0001 should be enough to get your transaction confirmed quickly. So it might cost about 2 cents to send from an exchange or another poker site to a Blockchain wallet, and then another 2 cents to send from Blockchain to WPN.

How real is the fear of having your coinbase account closed after using an intermediary like blockchain? Shocks me that coinbase would look several transactions back to make decisions on closing account, though I guess it really shouldn't.

It's hard to know for sure how far back they'd go. But the farther back they look, the less likely it was you that was making those transactions.

Odds are that you'll be fine, especially by passing thru a new address. It's been working for a lot of people for years.

The most important thing is that they first have to know that a certain address belongs to a "gambling" site.

From the stories I've seen of people getting their account closed they were gambling on sites that use publicly known bitcoin addresses. That makes it really easy for Coinbase to add those to a list and flag any incoming transactions from them.

WPN can help players and make it very difficult for Coinbase to track by using new addresses for every deposit, and new addresses to process every withdrawal.

Bought 400$ worth of bitcoin, then sent that to ACR but only received $388.

Fees a little high and rep (Rod) tell me fees are not covered whatsoever. Only MG/WU are

That sounds more like it might be BTC fluctuation since it dropped a bit the past day or two iirc.

I don't understand why they can't cover the difference though...

Would you have sent them back $12 if you had instead been given $412?

You buy x.xx BTC for $400 then after you have them in your wallet you transfer x.xx BTC to the poker site. They can't give you more BTC then you purchased just because the price dropped between the time you purchased them and deposited them.

Yeah it's BTC fluctuation, there's no fees from the network for bitcoin, and it will work both ways over time (don't send the extra $12 back )

Did they change the procedure? Last I knew, you agree on a $ amount and they tell you how much btc to send. So not sure how one would end up short on $s.

FYI: I've edited the OP, to include instructions on setting up bitcoin.

How long does the withdrawal take with bitcoin?

Is it necessary to link my online wallet to my bank to deposit?

Have never had one take longer then 36 hours.

Have never had one take longer then 36 hours.

Linking your bank account to Coinbase or Circle to buy bitcoin is the cheapest option. You can use a credit card instead, but there might be added fees.

And then there are other ways of buying bitcoin that don't involve a bank account like finding a Bitcoin ATM or buying from someone locally with cash.