[jc3235]

I am new to bitcoin and I am trying to understand how it works..

For example, if I make a withdrawal for $1000 from say Heritage, what dictates the price of the bitcoin? What is Heritage using to base the price of the $1000 of bitcoin they are sending you??

[rockmvp1209]

You get full price

[3runhomer]

Good question...

What price do you get...the price when you submit the request or the price when the book actually makes the transfer? I see that 5Dimes says 24-72 hours...

?

[raiders72001]

I am new to bitcoin and I am trying to understand how it works..

For example, if I make a withdrawal for $1000 from say Heritage, what dictates the price of the bitcoin? What is Heritage using to base the price of the $1000 of bitcoin they are sending you??

They use the Bitstamp price. Most fiat books use the Bitstamp price but there are a few that use http://bitcoinaverage.com

Current price at all the different exchanges https://bitcoincharts.com/markets/ using the USD and other currencies.

You get the price of when you initiated the transaction, not the price when the transaction was completed.

[DonZ]

These BIG BOYS must follow example of bitcoin-only guys:

JETWIN – FUNCTIONALITY UPDATE

Fixed BTC exchange rate for the withdrawal of funds

JETWIN was the first Bitcoin bookmaker company to offer its customers accounts not only in BTC, but also in the traditional currencies, such as, USD, GBP and EUR. Deposits are made quite easily – they are instantly processed and the customer knows the exact exchange rate, as it is indicated on the deposit form. However, the situation with withdrawals is different. Only 95% of the payouts are made instantly, and, moreover, the system uses the exchange rate that is actual at that moment when bitcoins are physically sent to the customer, and not the one fixed at the time of the request. This means that the gamer is unable to foresee the exact exchange rate for the withdrawal. This situation has raised many questions among customers, and the main requirement was as follows: the customer must know the exact currency exchange rate at which the funds will be converted during the withdrawal. Considering all the above, we have decided to improve the situation by implementing a new logic as to how the withdrawal process should be changed. As a result, we made it possible for the customer to decide upon the fixed exchange rate that funds should be converted at during the withdrawal, regardless of whether the transaction is instant or not. The customer should confirm the exact amount when filling out the withdrawal form. In addition, we have updated the design of both deposit and withdrawal forms by making them simpler and more comprehensive for the customer.