New to Bitcoin- a couple general questions.

[midnighthour12]

This may be hard to answer, but when paying out via Bitcoin, assuming the transfer is completed pretty quickly(I use JustBet so it's basically immediate), what are the chances/likelihood for discrepancies when converting the Bitcoin to USD? For example- Let's say I payout $1,000 to my Bitcoin wallet and I plan on immediately transferring the funds to my checking account through Coinbase; is it safe to assume that after converting the Bitcoins to USD, it will still equate to $1000, or is there always going to be a solid chance it will be less in USD?

Also, I noticed on the SBR Bitcoin tutorial video that it recommends transferring the payout funds to a Blockchain wallet, then transfer from Blockchain to Coinbase. JustBet doesn't tell you to do that at all, and just simply asks you to create a Coinbase account. Am I running a risk by paying out directly to coinbase as opposed to blockchain then coinbase, or does it not really matter?

I apologize for the long post, but thanks in advance to those who answer my questions!

[temple2010]

This may be hard to answer, but when paying out via Bitcoin, assuming the transfer is completed pretty quickly(I use JustBet so it's basically immediate), what are the chances/likelihood for discrepancies when converting the Bitcoin to USD? For example- Let's say I payout $1,000 to my Bitcoin wallet and I plan on immediately transferring the funds to my checking account through Coinbase; is it safe to assume that after converting the Bitcoins to USD, it will still equate to $1000, or is there always going to be a solid chance it will be less in USD?



Also, I noticed on the SBR Bitcoin tutorial video that it recommends transferring the payout funds to a Blockchain wallet, then transfer from Blockchain to Coinbase. JustBet doesn't tell you to do that at all, and just simply asks you to create a Coinbase account. Am I running a risk by paying out directly to coinbase as opposed to blockchain then coinbase, or does it not really matter?

I apologize for the long post, but thanks in advance to those who answer my questions!

yes, I believe it's illegal to use coinbase for gambking purposes or just against their rules. So using the intermediary(blockchain) then to coinbase is the way to go

[Venom72]

yes, I believe it's illegal to use coinbase for gambking purposes or just against their rules. So using the intermediary(blockchain) then to coinbase is the way to go

All sites are gonna say that though, theres no way theyd find out without really digging into it because most sites, atleast they should, generate new bitcoin addresses everytime they send to your account so its never coming from the same address, i used betonline to circle and never had issues

[midnighthour12]

All sites are gonna say that though, theres no way theyd find out without really digging into it because most sites, atleast they should, generate new bitcoin addresses everytime they send to your account so its never coming from the same address, i used betonline to circle and never had issues

So it sounds like it's pretty safe to go straight from sportsbook to Coinbase

[triplecrown333]

i just went straight from coinbase to book and got done in 15 minutes, hope coinbase dont red flag me...

[Venom72]

i just went straight from coinbase to book and got done in 15 minutes, hope coinbase dont red flag me...

Ive been using coinbase to book, no problems, the more you use them the higher your limits increase, my daily send limit is 1,500usd

[midnighthour12]

Ive been using coinbase to book, no problems, the more you use them the higher your limits increase, my daily send limit is 1,500usd

Is there a limit on how much you can transfer in USD from your bitcoin account to your checking account at once?

[triplecrown333]

i would advice to do less than 10k even if your limit is higher

[Optional]

So it sounds like it's pretty safe to go straight from sportsbook to Coinbase

It doesn't matter if they use a new address every deposit.

The book eventually has to move those coins somewhere and/or cash them out. Once they confirm one transaction is with the book from anyone connected to the final trail then all others are detected to.

If you send direct to a book address you will be spotted immediately as coming from a coinbase account if that happens to a block your receive address is connected to.

Using an intermediary wallet does not prevent you still be traced if they look a bit harder but it's preferable to just putting a big '"Hey Look At Me" sign on your transactions.

Taking your btc to a trading exchange and making a trade with them between coinbase and any book is a pretty good way if you can deal with the extra effort.

[Venom72]

It doesn't matter if they use a new address every deposit.

The book eventually has to move those coins somewhere and/or cash them out. Once they confirm one transaction is with the book from anyone connected to the final trail then all others are detected to.

If you send direct to a book address you will be spotted immediately as coming from a coinbase account if that happens to a block your receive address is connected to.

Using an intermediary wallet does not prevent you still be traced if they look a bit harder but it's preferable to just putting a big '"Hey Look At Me" sign on your transactions.

Taking your btc to a trading exchange and making a trade with them between coinbase and any book is a pretty good way if you can deal with the extra effort.

To each his own, again ive done hundreds of transaction with coinbase to book, its the only one ive used to send, i used circle to cash out, no issues, if i was to be banned id imagine they would have done so by now?

[Optional]

To each his own, again ive done hundreds of transaction with coinbase to book, its the only one ive used to send, i used circle to cash out, no issues, if i was to be banned id imagine they would have done so by now?

I guess you have been lucky so far.

But given it's highlighted in their terms and so many people have been shut down for ignoring it already, I would not be copying your example if I cared about keeping access to Coinbase.

[KDOWNS]

Optional, If a person does get banned from coinbase, what other option site does a person have. Is there another site where we can go that is set up like coinbase that we can link our bank account to, and also send and receive to blockchain

[Optional]

Optional, If a person does get banned from coinbase, what other option site does a person have. Is there another site where we can go that is set up like coinbase that we can link our bank account to, and also send and receive to blockchain

As far as I know Gemini.com is the only other site offering ACH bank account transfers. But if you are willing to go to wires then there are a lot of options.