I got an email from a bitcoin wallet representative asking me where i get my bitcoins transferred from , any advice as to what i should say ?

I had never used btc before cashing out with Blackchip, and learned the basics from this thread, so I wanted to get on and share some of what I learned as far as converting btc to spendable cash.

I use blockchain as my wallet to receive and then transfer to wherever I'm getting cash from.

Most of my cashouts have been very fast, within 4 hours or so, but a few have taken until the next day. Last week I had one cancelled because they said they needed documents (sounds like others had that too), I called customer service and they fixed it.

Seems like most people here are using Circle or Coinbase. Coinbase gave me higher limits, and yes, they charge 1%, but they seem to usually offer a higher price on btc.

There are two apps you can use to buy giftcards with btc, gift, and egifter. Can't get giftcards for everywhere, but I've used it to get Target, Walmart, Starbucks, Whole Foods, and a few other places. It's very convenient.

I sell most of my bitcoins now on localbitcoins. You have to be smart there, but if you sell to a high volume pro trader and use the escrow system, you can get cash directly in your bank account for a better price than on the other exchanges. Don't release the escrow until you have cash in hand or in the bank. I would not recommend doing anything that is reversible like an online transfer, paypal, etc. Also, enable 2FA on your account. What has been typical for me is putting in the request in the morning at BCP, and having cash in my bank account by the end of the day.

I knew nothing about bitcoin when they started offering it, and wanted to thank everyone who posted the how to's at the start of this thread.

can u explain the escrow system basically, and how the money hits your bank account so fast?

Okay, let's say I cashed out 5k usd worth of Bitcoin. I transfer from my blockchain to my lbc wallet. After 3 confirmations I can sell the btc. I look in the ads for cash deposit. You could also look for wire transfer too, but there's a ton more ads for cash deposit.

Typically there are people with ads buying for a little over market price, 1-2%. When you click on the add you can see how many trades the person has and how their feedback is. Also you will see if they are a pro trader. I've only dealt with pro traders. When you go to sell your coins go into the lbc escrow system.

When you initiate the trade the ad also has a time set by the buyer. If the buyer hasn't marked payment complete by that time, the coins are released from escrow back to you. When the buyer does make the deposit into your bank account, they will mark the payment complete and send you a copy of the receipt. Once you get the receipt and confirm that the money is available in your bank account, you release the coins from escrow to the buyer. If the buyer says they paid but did not then you disputed the trade and lbc releases the coins back to you. That has never happened to me using a pro trader and I have sold a decent amount of coin by now.

But just be smart if you use the site. Everyone I've sold to has had more than 500 trades and 100% feedback. And never release escrow before you have your funds. If you do, no one can help you get them back. Now I have 10 guys who I trust and sell to depending on who is buying and what they are offering.

That's also how the money gets in my account so fast. 1-4 hours after wpn sends me my coin depending on the buyer, so typically same day that I request.

that all was really really helpful. i appreciate it. but how do the funds appear in your bank account so fast? only if you have a BOA account lets say, and the buyer physically can go to a BOA branch and deposit it?...otherwise it wont happen, correct?

They deposit cash. Literally cash. Do not let someone deposit a check. They either walk into a branch and give it to a teller or use a teller assit ATM. You'll have to give them your name, account number, and zip code. If you're not comfortable giving someone your account info, either open an account just for those transactions or use one of the exchanges that do ach transfers.

If you check your online banking after the buyer marks payment made, the deposit will show as pending status till the end of the business day, but the funds will be included in your available balance and you can use them right away. And the receipt should show that cash was deposited.

If you use a national bank there are plenty of buyers who can walk into a branch. Like your example bank, they are everywhere. That's also the bank with teller assist ATMs and the guys who have cards for those can deposit till 10 pm and on weekends. All the big national banks and large regional banks have lots of ads running every day from buyers.

Also, online transfers like quick pay and sure pay are reversible. Do not use those unless you really trust the person trading with you. Me, I'm paranoid. Cash only.

but for example, my account must be BOA and they physically have to go to a BOA branch, right? so if i use a small bank, this wont work, bc they will have no access to it?

It depends on the bank. There aren't many 1 or 2 branch banks anymore. Credit unions have some kind of coop system for deposits, so I think if you use a credit union it could be done. But if you use Bubba's bank of east bumblef**k you might have a hard time getting a cash deposit. In that case you can do a wire transfer, which will still get to you that day, you'll just have to eat whatever fee your bank charges for an incoming wire.

There are also some Bitcoin ATMs now, but they have a pretty hefty fee. And coinbase had a debit card available in some states that is tied to your wallet, when you use it it sells the coin to cover the charge. I haven't bothered to get mine yet because I've been doing everything on lbc.

i understand now, thanks...your replies have been clear and awesome!

anybody having trouble with Circle of late. Some transactions are taking longer periods of time instead of instant like before.

So i was now informed that bitcoin is back and all i have to do is email support with all the details and there going to process my bitcoin cashout. So thats what i did just emailed them let you know what happens

Really need to speak to a WPN rep, I requested a withdrawal yesterday, this is the jist of what my email conversation with support is looking like:

Me: *sends documents*
WPN: Thank you you are now certified to request a withdrawal!
Me: Ok I can you enable BTC withdrawals for me I don't see the option?
WPN: Thanks a lot for your email, kindly be informed that in case that you want to request a withdrawal with Bitcoin, please be so kind to provide to us the amount and the bitcoin address you....
Me: *address and amount*
WPN: No response for a day and a half
WPN: (after a day and a half) Thanks a lot for your email, kindly be informed that in case that you want to request a withdrawal with Bitcoin, please be so kind to provide to us the amount and the bitcoin address you....
Me: *address and amount*
WPN: no response again

Am I doing something wrong here? I like ACR but the customer support is a spit in the face to it's loyal customers, and if something doesn't change I will no doubt withdraw all my funds and start playing live again.

im having similair situations, emailed support at 10:08am still haven't has a response yet..

Typical support. They talk to you like you are dumb and try to make things seem like it isn't their fault. They don't give a fk about their loyal customers. "kindly be informed?" Sounds like Monica. She's so ***** dumb and lazy. Their whole staff is an all star cast of people who don't deserve their job.

Is WPN->Blockchain->Circle->BankAccount->Titties still the optimal cashout method?

Nailed it!

Has anyone received a bitcoin withdrawal recently? I sent in an bitcoin cashout email over 24 hours ago and didn't get a response. I am currently using their chat function to see whats up and cust support is saying that they cant find the email....I am now waiting in queue while they research with a ticket id.



After a bit of a wait, they found my email and are now processing the withdrawal. Hopefully it will be quick.

Been awhile, is coinbase not good anymore?

Requested 2/15/16
Received 2/16/16

Really hope the bitcoin market stabilizes and solves the current issues it's facing because you can not beat the speed, anonymity, and simplicity when it comes to online poker.

bitcoin has been processed at 1:57pm ill let you know if anything happens,, 4 figures

Coinbase is fine

still haven't received been processed for 24 hours.

requested 2/15
processed 2/16
received -

just received 2/17 not bad!

just requested another 4 figure cashout 2/18