1. #1
    ace7550
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    For Those of You That are Sick of Coinbase

    I used Coinbase a couple times in the last couple months and it was a huge hassle. You have to wait about a week for the btc to show up in your account. Not only that but they lock you in at the btc price for a week and you are subject to whatever fluctuations there are. On one of my deposits I lost $300 because of fluctuations.
    Today I used itbit for the third time and it works much better. You have to physically wire the funds from your bank which is the only downside. Here is how it worked for me today:
    10am: wire $8,000 usd from my bank account to itbit.
    1230pm: got an email from itbit letting me know the funds were ready for use.
    1240pm: Buy btc with my usd.
    1250pm: transfer btc to poloniex (or blockchain or whatever your intermediary wallet is).
    Now I can just deposit the btc into whatever sportsbook I want.
    In one day I will move $8,000 from my bank account to my sportsbook using itbit.
    It would have taken at least a week with coinbase and I would have been subject to btc fluctuations.

  2. #2
    Waterstpub87
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    If you fill in the info verification on coinbase, they will give you a USD wallet. You fund this in the same way, with bank account, but you are not subject to the changing value of bitcoin.
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  3. #3
    ace7550
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    That's definitely good. Wish I had known that a couple months ago. But it still takes around a week right?

  4. #4
    Waterstpub87
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    Quote Originally Posted by ace7550 View Post
    That's definitely good. Wish I had known that a couple months ago. But it still takes around a week right?
    Yea still takes a week. It is not obvious how to get one, I was in a similar situation, but I only lost 25 dollars or so waiting for my bitcoin.
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  5. #5
    Kaabee
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    You can do it with coinbase in 1 day. Just login to their exchange gdax. Same login info as coinbase. Wire money then buy coins.

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  6. #6
    Optional
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    Quote Originally Posted by ace7550 View Post
    I used Coinbase a couple times in the last couple months and it was a huge hassle. You have to wait about a week for the btc to show up in your account. Not only that but they lock you in at the btc price for a week and you are subject to whatever fluctuations there are. On one of my deposits I lost $300 because of fluctuations.
    Today I used itbit for the third time and it works much better. You have to physically wire the funds from your bank which is the only downside. Here is how it worked for me today:
    10am: wire $8,000 usd from my bank account to itbit.
    1230pm: got an email from itbit letting me know the funds were ready for use.
    1240pm: Buy btc with my usd.
    1250pm: transfer btc to poloniex (or blockchain or whatever your intermediary wallet is).
    Now I can just deposit the btc into whatever sportsbook I want.
    In one day I will move $8,000 from my bank account to my sportsbook using itbit.
    It would have taken at least a week with coinbase and I would have been subject to btc fluctuations.
    You don't need to do it that way and be subject to price changes. Just fund your Coinbase account with dollars first, then buy your btc and have it instantly.

    Of course you may think the exchange rate is going higher and may want to lock in your price now as well. That's why you have a choice.

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  7. #7
    ace7550
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    Yes, I see that's an option now.
    But a week to get my money is way too long. What if I want to bet 5k on an event that is happening tomorrow?
    I sent usd to itbit yesterday and I am wagering today. If I had sent it to coinbase I'd be wagering sometime next week.

  8. #8
    rc1078
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    Ace, wondering if you can help me out. I see your posts every where about bit coins.

    I am about to take my first withdrawl. Its about 9k from sportsbetting.ag. I would like to use bitcoins, however they limit you to 5k. Lite coin I can go up to 10k.

    So I have since opened accounts at itbit and poloniex. Just to understand this right.

    I request a LTC withdrawl from Sportsbetting.ag to Poloniex.
    I convert LTC to BTC at Poloniex.
    I transfer BTC from Poloniex to itBit
    I transfer from itbit to bank account.

    Do I need to add a blockchain step? Do I need to do anything else?

    Thank you so much!

  9. #9
    ace7550
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    Quote Originally Posted by rc1078 View Post
    Ace, wondering if you can help me out. I see your posts every where about bit coins.

    I am about to take my first withdrawl. Its about 9k from sportsbetting.ag. I would like to use bitcoins, however they limit you to 5k. Lite coin I can go up to 10k.

    So I have since opened accounts at itbit and poloniex. Just to understand this right.

    I request a LTC withdrawl from Sportsbetting.ag to Poloniex.
    I convert LTC to BTC at Poloniex.
    I transfer BTC from Poloniex to itBit
    I transfer from itbit to bank account.

    Do I need to add a blockchain step? Do I need to do anything else?

    Thank you so much!
    Coincidentally I just requested a payout from sportsbetting.ag this morning

    Everything looks good to me. Have you done the increased verification steps with poloniex and itbit? Poloniex starts you with a max daily withdrawal of $2000. But if you get level 2 verification it becomes a $7000 limit. It's easy, just login to Poloniex and click on "My Profile".
    I think with Itbit you just need to have 2-step verification setup and you have a $25000 limit.
    One more thing that might be worth it since you are dealing with 9k. Different exchanges are trading btc at different rates everyday.
    For example the current price of btc at Itbit is roughly $1200 and the current price at Kraken is $1210. If you sent it to Kraken and withdrew from there you'd save around $80. Don't know if that's worth it to you or not.
    One last note, if you decide to shop around for the highest btc rate you'll find it at bitfinex, a whopping $1260! But don't deposit there. They are having problems with their usd incoming and outgoing wires...
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  10. #10
    rc1078
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    Thank you! someone else told me to request it to a wallet then go through the steps. Thats what I did. Hope it works. I requested it this morning. How long does it take to hit your account? 3-4 days?



    Quote Originally Posted by ace7550 View Post
    Coincidentally I just requested a payout from sportsbetting.ag this morning

    Everything looks good to me. Have you done the increased verification steps with poloniex and itbit? Poloniex starts you with a max daily withdrawal of $2000. But if you get level 2 verification it becomes a $7000 limit. It's easy, just login to Poloniex and click on "My Profile".
    I think with Itbit you just need to have 2-step verification setup and you have a $25000 limit.
    One more thing that might be worth it since you are dealing with 9k. Different exchanges are trading btc at different rates everyday.
    For example the current price of btc at Itbit is roughly $1200 and the current price at Kraken is $1210. If you sent it to Kraken and withdrew from there you'd save around $80. Don't know if that's worth it to you or not.
    One last note, if you decide to shop around for the highest btc rate you'll find it at bitfinex, a whopping $1260! But don't deposit there. They are having problems with their usd incoming and outgoing wires...

  11. #11
    ace7550
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    Time frames from my experience:
    wire to itbit: 1-2 hours
    btc from itbit to intermediary wallet: usually less than an hour
    btc from intermediary wallet to book: usually less than an hour
    book to intermediary wallet: depends on book. once they send the btc it should be quick. With sportsbetting.ag it should be reasonably quick.
    wire from itbit/kraken/coinbase etc to bank account: Depends on the options you choose and which site you use. Could be same day but could also take 7 days.

    Basically what this all boils down to is that it's pretty easy to get your money into a book in a day, but be patient when you begin the withdrawal process. Getting money from book to bank account in a day is a minor miracle...

  12. #12
    GoldRush7
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    Quote Originally Posted by ace7550 View Post
    Time frames from my experience:
    wire to itbit: 1-2 hours
    btc from itbit to intermediary wallet: usually less than an hour
    btc from intermediary wallet to book: usually less than an hour
    book to intermediary wallet: depends on book. once they send the btc it should be quick. With sportsbetting.ag it should be reasonably quick.
    wire from itbit/kraken/coinbase etc to bank account: Depends on the options you choose and which site you use. Could be same day but could also take 7 days.

    Basically what this all boils down to is that it's pretty easy to get your money into a book in a day, but be patient when you begin the withdrawal process. Getting money from book to bank account in a day is a minor miracle...
    What are the fees for wires on itbit? Is there a minimum you have to send? I have used CEX.io in the past because they have a card option and it's instant. 3.75% fee for using it, which isn't terrible, but not ideal.
    Last edited by GoldRush7; 04-19-17 at 03:52 PM. Reason: 3.75% instead of 3.25%
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  13. #13
    Optional
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    3.25% reasonable compared to other card buy options. I'll have to remember that one for the next thread asking for instant.

    How long from registering at CEX.io until you can expect to have coins for a new user? And what is the limit?

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  14. #14
    GoldRush7
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    Quote Originally Posted by Optional View Post
    3.25% reasonable compared to other card buy options. I'll have to remember that one for the next thread asking for instant.

    How long from registering at CEX.io until you can expect to have coins for a new user? And what is the limit?

    The verification process was pretty quick for me -I want to say less than a day. They require a bunch of stuff that I can't remember exactly, but to me it wasn't a big deal. Adding a card and getting that verified takes less than an hour(requires a selfie with card... but again, big deal) Definitely has been the most seamless option as far as depositing goes for me. Limit to $3,000/day $10,000 week deposits/withdraw. If looking for instant, seems the best way to go imo.
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  15. #15
    ace7550
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    Quote Originally Posted by GoldRush7 View Post
    What are the fees for wires on itbit? Is there a minimum you have to send?
    I don't know about the minimum. But itbit only charges $10 for incoming wires and $20 for outgoing. Your bank will probably charge $20 or $30 too.

  16. #16
    rc1078
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    Thank you all for the info.
    One last question.

    So I should be getting the LTC withdrawl into my electrum wallet.

    I get that i have to convert it to bitcoin. Using either Changelly, or poloniex.

    I then transfer those bitcoins to itbit.

    My question is, how do i get the bitcoin to USD?

    Will itbit do that conversion for me? I can't seem to find that on their site anywhere.

    Thanks again!

    Quote Originally Posted by ace7550 View Post
    Time frames from my experience:
    wire to itbit: 1-2 hours
    btc from itbit to intermediary wallet: usually less than an hour
    btc from intermediary wallet to book: usually less than an hour
    book to intermediary wallet: depends on book. once they send the btc it should be quick. With sportsbetting.ag it should be reasonably quick.
    wire from itbit/kraken/coinbase etc to bank account: Depends on the options you choose and which site you use. Could be same day but could also take 7 days.

    Basically what this all boils down to is that it's pretty easy to get your money into a book in a day, but be patient when you begin the withdrawal process. Getting money from book to bank account in a day is a minor miracle...

  17. #17
    Buffalo Nickle
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    Quote Originally Posted by ace7550 View Post
    I don't know about the minimum. But itbit only charges $10 for incoming wires and $20 for outgoing. Your bank will probably charge $20 or $30 too.
    Nuts to pay wire fees when you can do a bank transfer for free. No doubt you will be delayed at least three business days. When you gotta go, you gotta go.

  18. #18
    Buffalo Nickle
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    Quote Originally Posted by rc1078 View Post
    Thank you all for the info.
    One last question.

    So I should be getting the LTC withdrawl into my electrum wallet.

    I get that i have to convert it to bitcoin. Using either Changelly, or poloniex.

    I then transfer those bitcoins to itbit.

    My question is, how do i get the bitcoin to USD?

    Will itbit do that conversion for me? I can't seem to find that on their site anywhere.

    Thanks again!
    I think you might be making things a little more complicated than needed. You can transfer to Electrum and then transfer to itbit. Sell your bitcoin at itbit and then transfer to your bank. With itbit, you probably do not even need to transfer to Electrum but is a good safeguard.

  19. #19
    rc1078
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    Thanks but it isn't bitcoin. Its litecoin. Im understanding that itbit doesn't deal with Litecoin.

  20. #20
    ace7550
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    That's correct. Itbit only deals with bitcoin. You will need to sell your litecoin for bitcoin and then send it to itbit. Once it's at itbit you can sell your bitcoin for usd.
    How is it that you are going to end up with litecoin?

  21. #21
    rc1078
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    I withdrew 10k from sportsbetting.ag.

    Bitcoin the max withdrawal was 5k. I don't know if I can request more in a week or not.

    So I ended up with litecoin. No biggie I will convert and send to itbit.

    Where on itbits website do I sell the bitcoin for USD? Thats the problem I have right now, but maybe it just doesn't show where yet since I don't have the cash in there.

    Im just nervous over the whole thing since its new. Im sure it will be fine. Also will be much happier than the 3 weeks for checks!

  22. #22
    Buffalo Nickle
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    Quote Originally Posted by rc1078 View Post
    Thanks but it isn't bitcoin. Its litecoin. Im understanding that itbit doesn't deal with Litecoin.
    OK. Had you pegged for a novice. Litecoin users are real crazies.

  23. #23
    rc1078
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    Im not CRAZY!!!! HREWOREWJQWEQDMO

    Kidding. No I didn't know what the difference was, and heard they are basically the same. I just wanted to take out more money, so thats why its litecoin.

    Ive only done check before so this is all new to me.

  24. #24
    Optional
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    Quote Originally Posted by rc1078 View Post
    Im not CRAZY!!!! HREWOREWJQWEQDMO

    Kidding. No I didn't know what the difference was, and heard they are basically the same. I just wanted to take out more money, so thats why its litecoin.

    Ive only done check before so this is all new to me.
    Sportsbetting/Betonline have only just started offering LTC so this is new to just about all of us.

    Please keep us updated on the steps.

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  25. #25
    mandy2424
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    Is it ok to verify win your photo ID on coinbase to get your limits highered or should you not do that?

  26. #26
    Optional
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    Quote Originally Posted by mandy2424 View Post
    Is it ok to verify win your photo ID on coinbase to get your limits highered or should you not do that?
    Many posters have done that.

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  27. #27
    DISTROYA
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    Thx for the info.
    Last edited by DISTROYA; 04-20-17 at 03:19 PM.

  28. #28
    mandy2424
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    I uploaded my DL - but said I've reached my max of $10k per week-I thought this raised the limit by loads the DL?

  29. #29
    mandy2424
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    Also-does coinbase offer a debit card? How do I obtain a Bitcoin debit card?

  30. #30
    rc1078
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    I will keep you all in the loop.

    Ace how long did it take for you to get the Bitcoins from sportsbetting.ag to your wallet, or blockchain. You know your first step.

    Im on day 3 and it says approved on the laptop, and processing on mobile. I would have thought by this time it would have been sent.




    Quote Originally Posted by Optional View Post
    Sportsbetting/Betonline have only just started offering LTC so this is new to just about all of us.

    Please keep us updated on the steps.

  31. #31
    Optional
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    Quote Originally Posted by mandy2424 View Post
    Also-does coinbase offer a debit card? How do I obtain a Bitcoin debit card?
    Yes Coinbase offers the Shiftcard which links to your bitcoin wallet there.

    Many posters use the BitPay card and there is a good thread about it here: https://www.sportsbookreview.com/for...ebit-card.html

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  32. #32
    ace7550
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    rc, just click on "trade" to sell your btc for usd.
    I took a bonus from sportsbetting.ag and there was a 30 day hold. I requested at day 26 so I still have to wait a couple more days and then request again.
    LTC is fine. Just make sure you have the LTC sent to an LTC wallet and not a bitcoin wallet. Every crypto currency has it's own wallet and if you send the LTC to a bitcoin wallet or vice versa you will have big problems.
    If coinbase wants a photo ID I wouldn't hesitate. It's just to raise your limits. I have sent a pic with me holding my passport to a couple crypto trading sites. It's just for security.
    I have a shift card and use it frequently. It works great. Here is a link to get one: https://support.coinbase.com/custome...the-shift-card

  33. #33
    rc1078
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    I still do not have my deposit. They claim that it should be here today. I will give them that. I see that they ask for 24 hours after request to have the clock start. Im just nervous.

    I also made another request to withdraw. Fingers crossed for both.

    I will update when I get my money.


    Quote Originally Posted by ace7550 View Post
    rc, just click on "trade" to sell your btc for usd.
    I took a bonus from sportsbetting.ag and there was a 30 day hold. I requested at day 26 so I still have to wait a couple more days and then request again.
    LTC is fine. Just make sure you have the LTC sent to an LTC wallet and not a bitcoin wallet. Every crypto currency has it's own wallet and if you send the LTC to a bitcoin wallet or vice versa you will have big problems.
    If coinbase wants a photo ID I wouldn't hesitate. It's just to raise your limits. I have sent a pic with me holding my passport to a couple crypto trading sites. It's just for security.
    I have a shift card and use it frequently. It works great. Here is a link to get one: https://support.coinbase.com/custome...the-shift-card

  34. #34
    Buffalo Nickle
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    Does litecoin have the same type of confirmation process as bitcoin?

  35. #35
    rc1078
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    I do not know. Thats why I am keeping everyone informed. This is my first time, using litecoin. I did chat with Sportsbetting.ag and they said it should be sent by 5pm tomorrow, maybe earlier.

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