i don't have a credit card so it takes 4 business days to get your BTC using your bank account when using coinbase which while understandable is horribly inefficient.

The last time I checked I don't know of any larger established sites that sell instantly to debit cards. There may something new... but the ones I've seen in the past have seemed smaller and sketchier, and are going to charge a bigger fee.

If you have cash you check out LibertyX to see if there's a location near you. I haven't used it personally but have heard good things.

They have partnerships set up at other business like a phone store or something. You go in to the store and tell them you want to buy LibertyX credit. You pay cash and they give you a receipt with a code. Then you go to the LibertyX website, input the code, and they send you bitcoin.

From looking at their website they say it only takes minutes, and has 0 fee up to the first $1k.

Hmm, circle just emailed me asking what the source of my funds are, and my occupation. I'm not supposed to say poker right? This was after multiple 5k xfers, I think I might have done 1 directly to a poker site a few months ago for less than 1k but after that I have gone through blockchain first.

Equity analyzer in the shipping industry

So I just submitted my very first bitcoin withdrawal. When I check the status of the withdrawal on ACR it says processing. Can anyone give me an estimate on how long it usually takes to process? A little nervous since its my first time. I sent it to blockchain, then from there I am planning on sending to circle.

tell them none of their god damn business

It is their business since they're the medium you are using to facilitate monetary exchanges.

Anyone sign up with Circle and link their newly created account to a credit card (instead of a bank account)? What specifically else was required in that instance - any id etc..?

It's been taking 1-2 hours the last couple weeks from what I've heard (and experienced) although I believe the site still quotes it as "within 24 hours".

However I never get confirmation emails for this, so check your blockchain wallet periodically.

Yeah, you can tell them that. But I'm sure their TOS provides them the right to refuse service at their discretion so I wouldn't be surprised if they said ok, that's fine, but we're closing your account take your business elsewhere.

Yeah, I think they're required to ask that stuff to protect themselves.

They just need to know that you're not laundering money or doing anything else illegal. And they don't like people using their site as a way to buy/sell bitcoin to other people... so don't say that either.


Yes, unfortunately I think that's what would happen if you said poker or refused to answer.

But the good side is that even in the worst case scenario you'd still get to keep your bitcoin and you'd be able to sell it somewhere else.

Thanks. Its been over 3 hours now. Should I be worried? Did you all have to fax or submit any documentation to ACR before cashing out with bitcoin? When I check my account since requesting cashout it states "faxback requested but not received". I don't think I had this message prior to requesting a withdrawal.

-No don't worry

-No I didn't but my account was verified a long time ago and I'd done check withdrawals before. Way back when yes I did.

-Contact live support (contact button on the left hand side of the cashier page in the client), explain the situation and let them know you're checking on the status and if anything is needed as this is your very first cash out.

So once i do all that is listed in the op, what are the steps do depositing? Never used this before

Deposit: Bank Account -> Circle -> Blockchain -> Poker

1. Load your Circle account from your bank account. To do this, click on the "Add Funds" from the Account page at circle.com.
2. Then send those funds to Blockchain.
3. Then go to the poker client cashier and click deposit. One the left of the deposit screen, click on "Popular e-Wallet". Then choose Bitcoin. Enter the amount and continue.
4. Then a screen will come up with the BTC amount you must send to a specific Bitcoin address. You have 15 minutes to get that done.

folks can try using localcoins.com. The service matches you with sellers local to your area and if some exist you can prob get it done that day. However expect to pay a premium over spot price. Another option may be e-bay, that is where i purchase my first BTC, again it will cost you a premium. There is unlikely a legitmate website that will allow you to buy instantly without a credit card and id verification since places like coinbase/circle have to follow FINCEN regulations. your best bet if to make friends with someone who owns bitcoins and is willing to sell them to at a reasonable price locally if you dont have a credit card and feel you cant wait a week

Yeah, all of the larger legit sites are going to follow the AML/KYC stuff.

Also, remember that bitcoin is non-reversible... so it's tough for someone to sell bitcoin instantly for credit/debit/paypal/etc because they're putting themselves at risk of those payments being reversed. The places that do either charge a higher markup or need you to verify your ID, or both.

Right now I'd say the best options for buying instantly would be Circle if you have a credit card... and LibertyX, a Bitcoin ATM, or LocalBitcoins if you have cash.

OK so i set up my wallet at coinbase.com today.
I requested a cashout from ACR for $100 to test.
The money has been deducted from my ACR account ans is listed as processing.
ACR says 24-48 hours for processing and then 3-5 days AFTER that to recieve funds.

I am reading here people have gotten theirs much quicker.
What do you guys think my expected wait time would be to get the money into my account?

Also, are there any potential suprises I should look out for? like verifying my bank account w coinbase or verifying my coinbase account with ACR?

To verify your bank account with Coinbase they make a couple deposits of under $1.00 into your bank account and when they show up you enter the amounts on the Coinbase website. It's the same process as other e-wallet type sites... will probably take a couple days.

You don't need to verify anything between your Coinbase and ACR accounts.

How long did it take ACR to get the bitcoin to you?

I submitted for my first bitcoin withdrawal at about 4 pm cst on 6/4.
Its been processing since 7pm, and it is now 4:34am 6/5.

I will post here when recieved.

More Newbie Questions:

I am using coinbase.

It is my understanding that coinbase.com, blockchain.info, and circle are all simply mediums to convert bitcoins to standard banks. Am I correct in this?

Although I did go directly from WPN to coinbase in this first withdrawal, I will in the future use a wallet as an intermediary between WPN and coinbase.

Is it true that Coinbase, blockchain, and circle are taking a position against allowing gamblers to continue using their services? Or is this only true for Coinbase? Will using the wallet as an intermediary between gambling sites and coinbase pretty well protect me from being damaged?

Does anybody know wether or not coinbase will not take your money if they find out you use them for gambling transactions?

Yeah, Coinbase and Circle are what you use to buy and sell bitcoin with your bank account.

Blockchain.info is just a bitcoin wallet.

Right, Coinbase and Circle don't want to do transactions with gambling sites.

Blockchain.info is the wallet that you'd use as your intermediary between WPN and Coinbase/Circle. They don't pay attention to or care what you're doing with your bitcoin.

From every story I've seen they wouldn't keep your money... they would just close your account and let you withdraw the bitcoin back to your Blockchain.info wallet

Thanks EndTheFed.

I greatly appreciate all youve done in this thread. Im realyl starting to see that this is a much easier process than I initially anticipated

So the wallet I downloaded is Bitcoin core.

https://bitcoin.org/en/download

Is that just as good or pretty much the same thing as blockchain.info?

would you guys recommend i do bitcoin transfers to a smaller bank or a bigger bank like BOA , which scenario would process the fastest and not hassle me about my transfers?

All bitcoin wallets wll get the job done for you in terms of transfering your money. The difference is in its usability anad security features. Bitcoin core is the wallet developed by the core bitcoin developers. The advantage is that you have complete control over your private keys and there is no third party risk. The downside is that you are storing your private keys on your computer which means that if your computer is hacked the hacker can steal your bitcoins.

That first withdrawal was submitted for approval at about 10 am today, the next day!

Now I just have to wait for coinbase to ship to my Bofa.

I REALLY LIKE THIS SO FAR!