Is anyone using Gemini as an alternative to Coinbase?
If so, do you still have use Blockchain in cashouts as the middleman or its ok to washout direct from bovada to Gemini?

cashout requested 12/29 at noon

No.

They have a elaborate ranking system and everything is held by escrow until the money is in your hands.

You deposit on there with your BTC, pick your payout option (lucrative payout options normally charge a high fee) and cash deposit (to your bank acc) normally is equal to the going rate of BTC.

Can assist via PM with any questions as I don't check this subthread often.

Thanks for the reply. By the way, as of Dec 4th BoA doesn't allow CASH deposits into a checking account unless the depositors name is on the account. This is something that isn't getting much attention but definitely should be. Maybe I will text Druff and let him know about it so he can discuss it on radio.

Update: Received e-mail today from Ignition saying they have referred this to the Withdrawal Team, and it will take approximately 24-48 hours to respond.

So it may take five days to get a response other than please wait for a response in regard to money that I was advised would be in my account in about fifteen minutes.

In almost any other industry that would be substandard customer service, though obviously in the context of things that have happened with online poker sites over the years this is minor. Still, I'm not impressed.

I have withdrawn several times from Ignition this year and never had an issue, so hopefully this is just an aberration. Staffing may be lighter than usual at this time of year.

Hey all,

It's been awhile since I've messed with BTC withdraws. From what I'm understanding a good way to go about it now would be create an Electrum wallet, cashout Ignition to Electrum, then send from Electrum to coinbase/gdax (with lower fees on gdax?) and finally from coinbase/gdax you can cashout to your bankaccount?

Also if you want to just hold onto the BTC for awhile is it preferable to do so in your wallet or a place like coinbase?

ive been randomly holding btc and selling playing the guessing game and today i was on my coinbase account and looked you could sell btc to deposit at 13150 then for whatever reason i look how much rate is to buy btc and to buy was 13300 i think its safe to say coinbase is squeezing customers. if the roles were reversed they would halt all transactions until problem was fixed

thats correct. u can also get the shift card, which is a debit card that u can use at stores and atms which is attached to ur coinbase account. it will deduct, at the time of sale (when u use it at the store or atm), the equivalent amount of btc from ur coinbase account.

if u have this card, u would just cashout from Ign to ur wallet (electrum) then send to ur coinbase account. as soon as the btc is there, u can use the shift card. this is a faster method than above as u won't have to wait for coinbase/gdax to deposit the usd into ur bank account (although gdax does it pretty fast, like next business day).

u can also use the bitpay card, which is similar to the shift card, except ur balance is stored as usd with bitpay, and it has higher limits. the downside is that they charge an admin fee when u send btc to them, which is proportionate to current miners fees (its usually like ~1.4x the standard miners fee), which really sucks if ur doing a smaller withdrawal and miners fees are high.

as far as storing btc, i've heard from experts its better to store in ur wallet rather than on coinbase/gdax, but i can't remember why. the best option is supposedly to store offline on a physical device like a trezor etc.

Ok thanks for the info! Reminds me of the glory days of using the Neteller debit card.

So I made an electrum wallet like Bitpay suggests I however have a question. I click requset on the electrum wallet it gives me a Bitcoin address it asks for a description and a requested amount? So if I give Ignition this address and request an amount how do I know exactly what amount to put in the requested amount thing on electrum? Dont get why they need to know the requested amount anyways this is much more confusing then just withdrawing to blockchain.

Ok correct me if im wrong but the requested amount doesnt mean anything its just for your reference I think and it doesnt stop you from getting more or less bitcoins into this address. Sorry have been using blockchain->Bitpay the entire time and not bitpay card wont allow me to use blockchain. So basically im just replacing the blockchain with electrum?

I'd forgotten about that. Brings a tear to my eye.

You're not wrong.

Why is an electrum wallet preferred over blockchain as an intermediary wallet?

Blockchain is more of a hot online wallet I believe. Electrum is local to your PC.

Bitpay card no longer accepts transfers from Blockchain wallet.

Requested another Bitcoin withdrawal last night 11:00pm. My first withdrawal took 5 days to verify my info and then 5 minutes to receive the bitcoin into my blockchain. From there I went to coinbase. Sold some to friends and deposited the rest into bank account.

Hopefully this transaction doesn't take another 5 days.

I also just received my bitpay visa card but I'm having second thoughts after hearing the posts about issues receiving from blockchain. Might try Shift Card....

I'll be back when I receive the bitcoin withdrawal.

why is this?

I havent seen a lot of people mention using gemini itt, just one or two here and there. the purpose of using a wallet (like blockchain) in the middle is so that btc isnt sent directly from a gaming establishment (ignition) to an exchange (like gemini/gdax/coinbase) as this is against their policies, and if u do so u may get banned.

yes ur just using electrum as ur wallet instead of blockchain. Based on this guide created by another poster here (https://imgur.com/a/iTxXr), it looks like u just need the receiving address, and don't have to worry about the rest. (I have setup my electrum wallet but haven't done a WD using it yet.)

as goodsaint said, blockchain wallets are no longer compatible with the bitpay card. also, with electrum, u can use the new address type which will save u money on miners fees. see above guide.

bitpay card is awesome except that:

1) its no longer compatible w certain wallets like blockchain

2. they charge a fee every time u send to them which is something like 1.4x the suggested miners fee. this obv. sucks when miners fees are really high, esp. if ur cashing out a smaller amount.

Ur most plus ev option would be to setup an electrum wallet using the above guide, and get coinbase/gdax/shift card setup as well. (read the past 2 pages of this thread.) When miners fees are low, the bitpay card will still be an excellent, if not the best, option (as long as ur using a compatible wallet like electrum).

bitpay implemented a way of funding the bitpay cards called Payment Protocol. Now, instead of giving u a regular btc address to send to, they give u a website link. Supposedly this way of sending is more secure and fail proof. Blockchain wallets are not capable of sending using this format.

Ok so I had been doing blockchain-bitpay card for the last few months well after bitpay stopped accepting blockchain I made an electrum account 3 days ago. I decided to do a test to see how this works and make sure I didnt make any mistakes I did a 130$ small withdrawal from ignition went into my electrum wallet fine then sent it to bitpay and the money was in the bitpay instantly no waiting as before with blockchain it took a little time to be confirmed on some transactions. The downside is with the 130$ on electrum it only allowed me to get 100$ into bitpay so with electrumfees/transactionsfees/bitpay fees it cost 30$ to get 100 bucks into bitpay visa. So im wondering do I still need to put the transaction fees thing so high since it went in instantly this time? Can I do a lower fee with electrum and still get my money in instantly with bitpay because of the payment protocol? or does it still require high miner fee?

i dont know if the payment protocol thing makes a difference in speed... Perhaps bitpay is able to credit ur account as soon as u send now rather than waiting for 3 confirmations?

as far as the fees, i don't think u are paying "electrum fees".. correct me if im wrong, but in ur transaction, u should have paid the miners fee and the bitpay admin fee. if u setup electrum and are figuring the best miners fee to pay using that guide, ur miners fee should be minimal.

And if u send at nighttime (like middle of the night in the us) the miners fees generally seem to be lower. the bitpay admin fee we are just stuck with, however it also will probably be lower if u send at a non-peak time like middle of the night, as i believe its calculated based on the current miners fees.

my guess is u overpaid on the miners fee (altho even using a minimal miners fee u still would have paid probably 20-25$ in fees). how did u calculate it?

Guide to mining fees (courtesy of End the Fed)





For Electrum, use this guide to get setup with Segwit addresses which cost less in miners fees, and calculate optimal sending fees: https://imgur.com/a/iTxXr

Received Bitcoin withdrawal in my Blockchain account 3:06am on Jan 1st...

Gemini is better than gdax and coinbase imo. Cheaper fees and same-day wire transfers to your bank for free with no limits.

Can one use a debit/credit card to instantly purchase Bitcoin with Gemini?

Processed and Received TODAY! in about 12 hours. I sent to Bread Wallet first as suggested by Knittle. Now I'm sending it to my LocalBitcoins account and sell from there.