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Pros and Cons Of Gemini
I cant get a coinbase account setup (wont let me get verified after me sending 50 emails). so i have tried to Gemini
I Live in UK. would like to know others experiences with this operator. Like the time its taken to receive withdrawals from sportsbooks and time its taken to sell your bitcoin's on. Do any bookies have any problems dealing with them. Do you have to frequently use block chain to avoid a ban?
Last edited by bigbadbilll007; 02-26-17 at 10:32 PM.
I've made a few transactions with Gemini and think it is great. It is far cheaper than Coinbase and the transfers take place just as quickly.
I have yet to receive a transfer but expect no problems and they are currently allowing you to sell without waiting for a confirmation which is a big advantage.
It's possible they will ban for gambling but that remains to be seen. Not sure that would apply to a person in the UK anyway.
A sportsbook does not deal with bitcoin operators. They just send coins and they go through the blockchain to the bitcoin address designated.
I have an account with Coinbase and have been ripped off significantly and hope to never use them again so you are better off in my opinion. Wish I had known about Gemini before I started up with Coinbase.
The primary con that people will have with Gemini is that they do not have an instant option with a card. They are focused on trading and have little interest in transaction related activity. This could be a positive though since they probably have no interest in how you use the coins and will not make it a priority.
Last edited by Buffalo Nickle; 02-26-17 at 11:15 PM.
Gemini is fine. No one is getting banned although things change fast in the bitcoin world.Originally Posted by bigbadbilll007
Just completed my first transfer into Gemini. The transfer is still awaiting confirmation and I sold straight away.
transfer meaning sportsbook withdrawal? or putting money into your acccount to deposit at a sportsbook?
Sportsbook withdrawal. Now going on 5 hours unconfirmed transaction but I am out.
thank you. ive seen some of referring to deposits when they say transfer. execuse my dumb assness
did you send the money straight from sports book to gemini or use block chain
yes coinbase support is a joke. why don't they have a number
you can cut out blockchain if you want for now.
Yes, with the delays I was not willing to risk getting hung up and I am not very concerned with Gemini banning right now. I am not doing enough transfers that I would likely get busted anyhow.
how much before you start havin to worry about a ban?
Last edited by bigbadbilll007; 02-27-17 at 07:08 PM.
I will probably have to see someone getting busted for it or get busted myself. Gemini refers to itself as an "exchange." They are a trading firm. Coinbase and Circle were interested in people using bitcoin to pay for stuff. Circle saw that was not going to happen and quit bitcoin. Coinbase is basically operating as a bitcoin P2P so they are interested in not facilitating gambling.
Gemini is basically bitcoin Etrade. They don't care if you want to use to bitcoin to pay for Starbucks. That is just added cost as far as they are concerned. I think they will probably have to feel some pressure before they start looking but they are regulated so they may need to show some skins.
so these bigger bitcoin exchanges are like skrill and now ecopayz. not long ago you could deposit and withdraw with no trouble from with betcris group of bookies. now you can only deposit with ecopayz
You can use them that way but that is not their function. They just allow for transfers which allows you that capability. But since they are a trading firm and only really care about trading volume, I doubt seriously they are going to look at gambling and if they are asked about it, they will point out that they are just in the trading business. Circle and Coinbase on the other hand were basically setting themselves up as a payment service.
yes i know there a different type of company. meant to say coinbase and circle have gone the way of likes of skrill for us gamblers haha
I take it you have not done any bitcoining. So yes, that's basically how it functions for a gambler although not nearly so convenient and with some added risk with price swings. It is almost as easy though.
yes ive done nothing yet but i am well aware of the risks and swings
Well, there are still little surprises that come along the way. Read up as much as you can to avoid an unexpected bad outcome.
R the fees less than the 1% Coinbase fees? I may try them if it is.
Yes. 0.15% to start but they bump you up to 0.25%. I never got anything close to 1% with Coinbase.
what did you get at coinbase?
whats withdrawal fees to bank ac with all the compnies mention?
2.2% on average and my last two were 2.7% and then a whopping 3.2%.
jesus
conversion to dollar ? or another currency? is it same for all currencies
Dollar to bitcoin. They have an option for automatic purchase and transfer which I think they probably mark up on more and mark up higher on higher dollar amounts. That's a good opportunity to fleece the uninitiated. I do not recommend using that option. I think 1.5% is what most people pay on average but my lowest was 2%.
That's a good fee. I'm gonna give them a try.
You can transfer from bank to bitcoin provider and vice versa free. Takes three business days to clear on deposits. They send out in one business day generally when withdrawing.
whats there bank withdrawal fees?
Everything is free....only 25 bps conversion fees. They are a trading platform....that is their bread and butter.
you mean gemini or coinbase is well
Gemini
whats coinbase withdrawal fees?
Fees at coinbase are exponetially more than Gemini....like 10-20 times.
Last edited by Memento; 02-27-17 at 08:53 PM.
Coinbase does not charge for bank transfers to or from. They are standard bank to bank transfers with all the providers.
and how long have bank withdrawals taken with gemini, circle and coinbase
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