Need help with cashing out with bitcoin

[voltron12]

I have watched the 4 step videos on here, which were a huge help in understanding the process. I have never used bitcoin for a withdraw before and never set up an account. I dont want to deposit via bitcoin, just use the withdraw option. Sick of waiting for checks to clear at my bank.

Am I clear on the process here to cashout from books like Heritage and bookmaker so it gets to my bank would go like this for a newbie.

1. setup a coinbase account linking my bank account.
2. Setup a airbitz account.
3. Cashout to the airbitz account from the sportsbook.
4. Transfer that to the coinbase account and transfer to cash and send to my bank account.

I know the exchanges and wallets could be different but is that the basic premise to get money out of a book and into my bank account. Or is there a better way.

[FCMedina]

Do not use Glidera. Money has vanished. Online support does not answer emails. No telephone numbers to call. Starting to get a sick feeling that I have lost my money. ugh

[gauchojake]

I have watched the 4 step videos on here, which were a huge help in understanding the process. I have never used bitcoin for a withdraw before and never set up an account. I dont want to deposit via bitcoin, just use the withdraw option. Sick of waiting for checks to clear at my bank.

Am I clear on the process here to cashout from books like Heritage and bookmaker so it gets to my bank would go like this for a newbie.

1. setup a coinbase account linking my bank account.
2. Setup a airbitz account.
3. Cashout to the airbitz account from the sportsbook.
4. Transfer that to the coinbase account and transfer to cash and send to my bank account.

I know the exchanges and wallets could be different but is that the basic premise to get money out of a book and into my bank account. Or is there a better way.

Correct. Book to wallet to exchange to bank. I received a warning from Circle that they were going to shut down my account for gambling if I they suspected any further transactions. You may want to add an additional layer of transaction ie another wallet or exchange so that the transaction is less transparent.

[JohnPers]

any of the standard most widely known transfer intermediaries will do fine. i just googled for bitcoin intermediary and can say the first 5 options are ones i have used before and all seem to be on par. login and find the withdraw button, amounts credited to bank balance within 7 days usually procedure.

[Optional]

I have watched the 4 step videos on here, which were a huge help in understanding the process. I have never used bitcoin for a withdraw before and never set up an account. I dont want to deposit via bitcoin, just use the withdraw option. Sick of waiting for checks to clear at my bank.

Am I clear on the process here to cashout from books like Heritage and bookmaker so it gets to my bank would go like this for a newbie.

1. setup a coinbase account linking my bank account.
2. Setup a airbitz account.
3. Cashout to the airbitz account from the sportsbook.
4. Transfer that to the coinbase account and transfer to cash and send to my bank account.

I know the exchanges and wallets could be different but is that the basic premise to get money out of a book and into my bank account. Or is there a better way.

That is supposed to work but as FCMedina mentioned Airbitz has shut down his account today. Although they are sending him his full balance still so it's not a huge issue if it happens. Just change from Airbitz/Glidera to Kraken if that happens. And from Coinbase to Circle if it happens at that end.

Personally, I'd probably use a blockchain.info/wallet as the first receive point from my book on way out and from Coinbase on way in. And then move it to Airbitz and do one trade on the Glidera exchange before sending back to the blockchain.info wallet and onto the sportsbook or coinbase. If I was really concerned about not being shut down anywhere.

But whilst they all return all funds when they do this, you probably dont need to make your life too difficult or worry too much IMHO.

[voltron12]

Thanks for the responses. Optional, So I am just wondering about cashing out at books at the moment.

1. request a bitcoin payout to a blockchain
2. Then send to airbitz.
3. Exchange in glidera.
4. Send to coinbase then to bank account.

If I have any issues switch out airbitz/glidera to kraken. Should I just use Kraken to start. I havent made any withdraws yet so I could use Kraken instead to be safe.

Actually just looked into Kraken and if you verify your account a couple tiers, you can withdraw to your bank account from there. So that would eliminate the step of coinbase or circle. So I signed up at Kraken and might just send to them after withdrawing to blockchain.

[Optional]

I think it might be a similar situation at Airbitz Voltron. Haven't used it to confirm for sure but at least one poster has said its possible to cash out from Airbitz.

[voltron12]

When you send money from blockchain to airbitz or Kraken, what is best to put in the description area.

[raiders72001]

When you send money from blockchain to airbitz or Kraken, what is best to put in the description area.

nothing

[raiders72001]

But whilst they all return all funds when they do this, you probably dont need to make your life too difficult or worry too much IMHO.

Agree. No big deal if you get shut down. Just use something else.

[voltron12]

Cant use Glidera in my state. So I have bitcoin in airbitz right now. Where should I move it to now so i can exchange it. Maybe Kraken. Or can i move it to coinbase and exchange it there.

[Optional]

Cant use Glidera in my state. So I have bitcoin in airbitz right now. Where should I move it to now so i can exchange it. Maybe Kraken. Or can i move it to coinbase and exchange it there.

Coinbase or Circle are the easiest for US people to cashout from but if Kraken works in your state they are fine too.

[voltron12]

how do I get my money now from Kraken to coinbase. I went to Kraken already and exchanged bitcoin to USD but now cant find a place or way to send the money to coinbase. Am I missing something. Or should I just do all the verification at Kraken and do a wire to my bank from there. I figured there was an easy way to transfer from Kraken to coinbase but I have been looking for a half hour and cant find the option. I am verified to level 2 already there.

[Optional]

how do I get my money now from Kraken to coinbase. I went to Kraken already and exchanged bitcoin to USD but now cant find a place or way to send the money to coinbase. Am I missing something. Or should I just do all the verification at Kraken and do a wire to my bank from there. I figured there was an easy way to transfer from Kraken to coinbase but I have been looking for a half hour and cant find the option. I am verified to level 2 already there.

You will need to trade your US$ back to bitcoin before being able to send it on to Coinbase.

[voltron12]

what was the point of even sending money to kraken in the first place then. This whole process is getting to be just annoying and pain. So once I send the bitcoin to coinbase. How do I exchange that to cash so I can send to my bank account. Can someone just please state in simple english the process so I can cash out from a book and get it to my dam bank account. I want the cashout process and not do this or that then this then that then this but if this happens do that then to deposit do this then transfer to this to get back to a book. How is there not a step by step guide somewhere. I thought those videos were good but now I am starting to think this whole process is a waste of time.

I have now transfered the the cash back to bitcoin on Kraken, and sent that money to coinbase. Waiting for it to hit there. Hopefully it is a simple process to convert to cash to send to my bank account that is already linked to there. But Im worried it is not.

Sorry to be so negative but even if I get this cashout in 2-3 days from book to bank accounts time. I will probably cost me 18 hours of my life trying to figure it out, uploading docs, reading how to's, and everything else involved. Makes just clicking withdraw by check, waiting 3 -5 days for it to come, then the bank putting it on hold for a month seem like a deal now.

[Optional]

I understand the confusion but you are actually doing everything 100% right, if you want to protect your Coinbase account from being shut down.


If Coinbase detect you gambling they shut your account. So you never send direct from them to a book or vice versa.

The recommended best way to hide the trail is to transfer from Coinbase to an actual trading exchange like Kraken, make a trade to 'wash' those coins, then send them on from there.

I agree it's a bit of a pain in the ass sounding for new users (it really is easier than it sounds at first) so I generally just tell people to use a simple free blockchain.info wallet as the middle man between coinbase and books. And let them graduate to doing what you are doing once they are comfortable.

Many many posters have done it that simple way for many months and still have their accounts. But many have also been shut down.

If you are not talking about moving a lot or money and not doing it multiple times per week, then the simple way is just fine to get started.

But now you have got Kraken all set up and worked out how to make trades I'd probably persevere that way as it really is more likely to work better.

[voltron12]

So here is how my trial run went with just a cashout of 50.00 to see how it goes. I am from the US also.
1. Withdrew from a sportsbook to blockchain.
2. From block chain to Kraken.
3. Transfer bitcoin to USD. Then back to Bitcoin
4. Then transfer that bitcoin to coinbase
5. Then transfer the bitcoin (which coverts to usd for a fee) in coinbase to my bank account which it said should be there in 2 days.

Ended up cashing out 50 and will get about 46.00. I am fine with that for a trial run since I figure the fee's wont be a whole lot more for much larger cashouts that I will doing if this all works out.

[Optional]

That seems a lot really. 8%

But I guess that is a function of the small amount. Should be under 2% loss really.

[voltron12]

so bookmaker was no problem cashing out with bitcoin even though I never made a deposit with bitcoin. Heritage now says to cashout via bitcoin I need a deposit first with bitcoin. So I made another withdraw from bookmaker to blockchain. Can I just send 50 to 100 of that straight to heritage for a deposit so i can withdraw bitcoin from there. Or do I need to do the process of sending my bookmaker cashout to blockchain to kraken then back to blockchain then to heritage.

[Optional]

so bookmaker was no problem cashing out with bitcoin even though I never made a deposit with bitcoin. Heritage now says to cashout via bitcoin I need a deposit first with bitcoin. So I made another withdraw from bookmaker to blockchain. Can I just send 50 to 100 of that straight to heritage for a deposit so i can withdraw bitcoin from there. Or do I need to do the process of sending my bookmaker cashout to blockchain to kraken then back to blockchain then to heritage.

Its fine to shift money around from Book > Blockchain.info/wallet > Book as often as you like.


You just want to 'interrupt' the journey when you are sending from or to Coinbase/Circle