Fair enough. I still don't see where it could have occurred, but if that type of price fluctuation is normal then I guess that's just part of it. Hopefully next time I'll make a tiny amount. Thanks for your help.

I know this been covered but cant find it. Can someone tell me what bitpay wallet to use? Also I thought I got an email awhile back saying it cost 30 dollars fee to load on bitpay card now. is that true? I wanted to use bovada/bitpay wallet/bitpay card. Thanks for any help.

Yeah, a ~1% price movement would be pretty normal. And as you said, you're just as likely to hit an upward fluctuation next time.

The other issue is that although Ignition has used an exchange rate very close to Coinbase/GDAX in every withdrawal I have done... we still don't know exactly what exchange rate they are using at the time they send your withdrawal transaction.

So there's a chance the exchange rate they use to calculate your USD withdrawal amount is slightly different than the exchange you're going to sell to.

When the exchange Circle was still around they would often have a slightly higher exchange rate allowing you to actually make a profit on your Ignition withdrawals.

You can follow the directions in this guide to set up an Electrum wallet that will allow you to send bitcoin with lower fees:

https://imgur.com/a/iTxXr

You don't want to use the Bitpay wallet, it is not good.

So you'll withdraw from Bovada to your Electrum wallet, and then send to your Bitpay card.

Bitcoin transaction fees are actually really low right now. When you send bitcoin to your Bitpay card they will charge you an extra "network fee" on their end of a couple dollars.

They are overcharging people for this extra fee - but ultimately it's not too bad if you're sending a larger amount of money.

In case you were wondering about paper checks>>>>

Requested check: 1/21

Check received: 1/29 via carrier from up North.

haven't played much lately and am far behind. requested a check and got a call pushing me (hard) to BTC and recommending i install Blockchain Bitcoin Wallet for the transfer which i can then take to an nearby btc atm and withdraw immediately ($1800).

anything i need to worry about? run to the atm so the value does not change?

tia

Seconding this - crypto is an extremely volatile asset class, especially at the moment. A ~2% swing in an hour is extremely plausible. Its a risk you have to take. The good news is that sometimes it will go up in between cashing out from Ignition and selling it on gdax, and sometimes it will go down. So if you do this a lot in the long run your EV is neutral and its just the transaction fees you need to worry about.

I used a BTC atm for a withdrawal once when I needed money within an hour. Paid a 7% fee, but it was fast (just had to wait for a block to be mined) and easy.

I know you cant go from blockchain to bitpay card. Can you still go from coinbase to your bitpay card? Thanks

You had to wait at the ATM? I actually had just emailed them and asked them just to send me a check, but then they offered me $200 to cover any fee's so I guess I am thinking about it again. ATM is 5.5% (99 on 1800) and I really hate throwing away a free hundo.

whoa! they offered you $200 to take bitcoin over a paper check???? wtf that makes no sense at all?? i guess ill have to try it....

also dont pay no 5% ATM fees!!!! get all your money!!! send your bitcoin to blockchain wallet then to coinbase, link your bank account to coinbase and sell your bitcoin on GDAX/coinbase for a much smaller fee.

it sounds like the netteller days....with a lot more steps, confusion and uncertainty?

is there a readers digest version somewhere with some details? they told me to get blockchain, so I am guessing they drop it right in there and then I have to do the other steps, which i would need some more info on.

thanks

Hey does anyone know if you can go from coinbase to bitpay card anymore? thanks again

Well yeah, the bitcoin ATM's have to wait for the transaction to go through, which takes all of 15 minutes max if you set the right fee. Thanks for the tip on cashing out, I'll request a check next time and see if I can print too

Wait, what? Why wouldn't you be able to load the card from btc from any source?

Bitpay card enacted "Payment protocols" which eliminated wallets that don't have them, such as Blockchain, for example. Hence, the numerous recent posts about Electrum in this thread. Mycelium is another wallet with the "protocols" in place.

can u send coinbase to bitpay card though sry man.

im not sure if coinbase supports sending to "payment protocol" addresses, but im not sure why you'd want to do that. if ur wd'ing from bovada/ign u need a wallet in the middle regardless, whether u use blockchain or smth else. not advisable to go from ign to coinbase directly.

if u use electrum instead of blockchain u will be able to then send to ur bitpay card (u can find electrum instructions in end the fed's post above, its the imgur link.

alternatively, if u still want to use blockchain, u can then send from there to gdax (coinbase's btc exchange which has less fees) and withdraw to ur bank account and often have the cash by the next business day.

or even faster, just get the shift card. its almost the same as the bitpay card, but it attaches to ur coinbase account, and when u use it at the store/atm, it just debits the equivalent amount of btc from ur coinbase balance. the time frame is the same as using the bitpay card and u also avoid the bitpay admin fee.

yeah, thats crazy. im guessing they figure its worth the $200 if u will then use btc instead of checks from here on out. but yeah, paying 5+% is very much unnecessary. see below.

cliffs notes version:

- get an electrum wallet instead of blockchain (use end the fed's imgur link in his post above for instructions)

- setup an account at coinbase & gdax (same company, two sides of the same coin) and attach ur bank account (make sure the name on ur bank account and the name on ur coinbase/gdax is identical, including ur "nickname."

- have ign send to ur electrum wallet, then send from there to gdax, then sell and cash out to ur bank account (funds available often by next bus. day)

- if u want ur money faster, get the shift card described above in this post. this method will be nearly as fast as the btc atm method.

For more detailed instructions on electrum and gdax, see the last 5 pages of this thread. If u have questions along the way, feel free to ask.

also, i found a pretty sick loophole for the shift card.

one of the only downsides to shift is the daily limits, which are less than the bitpay card: 1k at the store, or $200 at the atm. so if ur just using it to pull out a lot of cash, u either have to find a store where u can get a good amount of cash back per purchase (like at least $100) then make a bunch of small purchases, or....

if u go to walmart they have a thing called "debit card unload" or "fast cash" or something like that. u do this in their financial center if they have one, or at the customer service desk otherwise. this process allows u to pull up to 1k off ur debit card for a fee of $3. this transaction goes thru to ur card (shift or bitpay or whoever) as like a normal store transaction, not an atm withdrawal. so daily store limits (shift - 1k) are applicable to it, not the much lower atm limits (shift - $200). also u are not assessed any fee by ur card, only the $3 fee to walmart.

so if u want to pull out cash quickly from btc with the least amount of fees, this is the best way i've found. with the shift card, u should be able to pull out $997 per day. (i tested this when i first got my shift card for an amount higher than the $200 daily atm limit and it worked.)

Requested $1k last night
Received in Block Chain this morning
Total time: ~13 hours

Thanks for the details. very much appreciated.

when receiving money on electrum do you have to put how much your receiving or is that only when you send. Also if you have to put how much your receiving do you put the exact amount you cashed out from bovada. Thanks again

The exact same thing just happened with me this morning after requesting a paper cheque a few days ago. Received a random calling also pushing me very hard to withdraw via bitcoin instead and offered me a $150 bonus for a $1400 withdrawl.

I declined and I still got pushed to do it. Never dealt with bitcoin before and i didn't want to go thru the hassle of setting up some random bitcoin account that I'm only using for poker

It was definitely a hard sell

You gave up $150 because you can't take 60 seconds to download a bitcoin wallet? You must hate money more than Ignition

also the name on my wallet says default-wallet is that correct or ok? sry just don't want to mess up thanks for the help.

no u just give the sender ur receiving address, that's it.

the name of ur wallet isn't really important, assuming were talking abt the same thing which i think we are. u can set up multiple wallets within electrum i believe. i'm not sure why people have more than one wallet, probably for different purposes like u have different bank accounts - savings, checking, etc. if u used end the fed's instructions, just follow them to a T.