Newbie

Optional · 02-12-18, 10:44 AM

1) signup with Gemini.com (or Coinbase.com if you prefer)

2) link your bank account and go through the ID stuff to get setup.

3) Do an ACH transfer from bank to fund the account.

4) Buy bitcoin.

5) Open a plain wallet that you control the private key for (unlike wallets at exchangers like Gemini/Coinbase) Airbitz is popular if you want a phone app. Electrum.org is popular as a desktop wallet.

6) send the bitcoin from Gemini to your new wallet. (not directly to a bookmaker from the exchanger)

7) Send it from your wallet to the bookmaker.

When withdrawing also withdraw to your own private wallet before sending it on to Gemini.

Think that's about all you need to know to get started.

jayfd · 02-12-18, 10:50 AM

Thank you for the info

What’s the difference between Gemini and coinbase ? And blockchain and airbitz

I do want to use a phone app for transactions.

jayfd · 02-12-18, 11:00 AM

I believe i read somewhere to make sure the sports book holds funds in US dollars ? Do they all do that ? If not Can you commend once that do

Optional · 02-12-18, 11:08 AM

Gemini and Coinbase are basically the same service. US licensed retail exchangers that can fund directly to and from your bank.

They are not the cheapest way but are the simplest to get started with.

Coinbase offers credit card purchases and has an attached live trading exchange attached (Gdax.com), where as Gemini does not. But Gemini is cheaper and in general seems to be a better service if you just want to do what you are talking about. Simply fund and withdraw with bitcoin and your bank account.

Here is a list of rated books showing who converts to US$ and who is bitcoin only: https://www.sportsbookreview.com/bet...n-sportsbooks/

Optional · 02-12-18, 11:13 AM

Originally posted by jayfd

Thank you for the info

What’s the difference between Gemini and coinbase ? And blockchain and airbitz

I do want to use a phone app for transactions.

Blockchain.info wallet does not support the latest protocols yet. It's fine but I've stopped recommending it. Or do you mean the Blockchain Core wallet? If so, don't know much about it personally.

jayfd · 02-12-18, 12:11 PM

In the video it talks about blockchain . Again I’m green to all of this .

Once the bitcoin is purchased in coinbase what’s the total transaction time From coinbase to wallet then to sportsbook ?

jayfd · 02-12-18, 12:19 PM

So just made my first purchase it’s saying

Start date February 12, 2018
Estimated payout February 17, 2018

Seems like a long time i thought it only took a couple hours ?

Roscoe_Word · 02-12-18, 02:10 PM

Originally posted by jayfd

So just made my first purchase it’s saying

Start date February 12, 2018
Estimated payout February 17, 2018

Seems like a long time i thought it only took a couple hours ?

For Coinbase, as far as I know, there are 2 ways to fund your account (i.e. purchase BTC)

One is the long way. I think its called an AHD or ACH, some acronym close to that.

I'm currently waiting on one myself. It takes about 6 business days.

Two is the debit card method. Its pretty quick, under an hour I think. But I think it might be more expensive. Coinbase will send you an email in about 6 days saying "your BTC has arrived"

I'm green too, but ya get a lotta help here, and learn little by little.

Optional · 02-12-18, 05:50 PM

Originally posted by jayfd

In the video it talks about blockchain . Again I’m green to all of this .

Once the bitcoin is purchased in coinbase what’s the total transaction time From coinbase to wallet then to sportsbook ?

I think it would be the blockchain.info/wallet being referred to in the video. Or maybe just talking about the blockchain technology which is a different thing. The over use of that word as part of brands does confuse lots of new people.

Once you have cleared bitcoin in your account at Coinbase, the transfer time to get it anywhere else is 10-20 min right now. Both transfer time and the associated miners fee vary with network demand. Right now its fast and cheap.

Originally posted by jayfd

So just made my first purchase it’s saying

Start date February 12, 2018
Estimated payout February 17, 2018

Seems like a long time i thought it only took a couple hours ?

At Coinbase it takes 5 Days from sending an ACH bank transfer deposit until it is cleared and you can move those funds out of Coinbase. Because the ACH system (Automated Clearing House) allows senders to request a cancel for up to 5 business days.

At COinbase you can get around this by either using a card to purchase, or using a Wire transfer instead of ACH. That will cost you bank fees but is cleared into your account to do what you want with over night.

The other option is to use Gemini as I suggested. They give you instant credit for ACH deposits, and cover your miner fees to send it out to your private wallet.

jayfd · 02-19-18, 02:08 PM

Originally posted by Optional

I think it would be the blockchain.info/wallet being referred to in the video. Or maybe just talking about the blockchain technology which is a different thing. The over use of that word as part of brands does confuse lots of new people.

Once you have cleared bitcoin in your account at Coinbase, the transfer time to get it anywhere else is 10-20 min right now. Both transfer time and the associated miners fee vary with network demand. Right now its fast and cheap.

At Coinbase it takes 5 Days from sending an ACH bank transfer deposit until it is cleared and you can move those funds out of Coinbase. Because the ACH system (Automated Clearing House) allows senders to request a cancel for up to 5 business days.

At COinbase you can get around this by either using a card to purchase, or using a Wire transfer instead of ACH. That will cost you bank fees but is cleared into your account to do what you want with over night.

The other option is to use Gemini as I suggested. They give you instant credit for ACH deposits, and cover your miner fees to send it out to your private wallet.

Thank you for all the advice . My 1st purchase with coinbase was a success and i eventually got funds transferred to sportsbook

Because of the length of time between bank to sportsbook I’m thinking about using your recommendation of Gemini . Any difference i should know about between Gemini and coinbase ?

What’s the time frame from sportsbook withdrawal to bank account ? Using gemini ?

Optional · 02-19-18, 03:31 PM

Originally posted by jayfd

Thank you for all the advice . My 1st purchase with coinbase was a success and i eventually got funds transferred to sportsbook

Because of the length of time between bank to sportsbook I’m thinking about using your recommendation of Gemini . Any difference i should know about between Gemini and coinbase ?

What’s the time frame from sportsbook withdrawal to bank account ? Using gemini ?

The main difference is they dont take cards.

ACH withdrawals from Gemini should fully clear into your bank account in 3-4 business days. ACH withdrawals initiated before 4PM ET will be processed same business day; ACH withdrawals initiated after 4PM ET will be processed next business day.

Wire transfer withdrawals initiated before 4PM ET will succeed into your bank account same business day; wire transfers initiated after 4PM will succeed into your bank account the following business day.

Just a moment...

https://gemini24.zendesk.com/hc/en-us/sections/202064546-Transfers

mrpapageorgio · 02-19-18, 07:42 PM

If you live in the US. Download the Square "Cash app". Bitcoin purchases are available to all but (I think) 3 states. Add your debit card, load money into the app and use it to instantly buy Bitcoin. The spread is around 1-1.5%. To withdraw, you have to give a photo of the front/back of your DL and a selfie proving it's your ID.

The withdrawals were initially very slow (24 hours sometimes), but have lately been under 90 minutes.

Other catch is you currently can't send them Bitcoin to sell yet.