1. #1
    dmonaco712
    dmonaco712's Avatar Become A Pro!
    Join Date: 11-02-16
    Posts: 33
    Betpoints: 506

    Lost $13 buying $100 worth of bitcoin

    After buying $100 worth of bitcoins with coinbase and sending it
    over to blockchain it is now $83 after fees and a drop in value.

    Can someone remind me again why bitcoin is popular with
    sports betting?
    If I just used my debit card to deposit I would have had an extra
    $17 to bet with.

  2. #2
    KS1986
    KS1986's Avatar SBR PRO
    Join Date: 05-20-17
    Posts: 550
    Betpoints: 9468

    You just bought at a bad time. For a $100 deposit your'e better off using a debit or CC card. Bitcoin is popular with sports betting because it allows us to transfer very large amounts which isn't possible with a CC or debit card. For 1k+ deposits bitcoin is great.

  3. #3
    Jnas
    Jnas's Avatar Become A Pro!
    Join Date: 08-26-10
    Posts: 760
    Betpoints: 8549

    right now the miners fees are outrageous. bitcoin is useless for small deposits. I am thinking of giving etherum a try not going to waste 10 bucks everytime I send a 100 or 2

  4. #4
    dmonaco712
    dmonaco712's Avatar Become A Pro!
    Join Date: 11-02-16
    Posts: 33
    Betpoints: 506

    Thanks for the reply.

  5. #5
    dmonaco712
    dmonaco712's Avatar Become A Pro!
    Join Date: 11-02-16
    Posts: 33
    Betpoints: 506

    Another fee

    Holy cow just sent $70 in bc to 5D and there was a $9.70 fee
    thats $23 in fees out of $100.
    Back to debit card.

  6. #6
    mrpapageorgio
    mrpapageorgio's Avatar Become A Pro!
    Join Date: 09-07-17
    Posts: 2,974
    Betpoints: 3869

    If you're ok with using an alternate book that accepts them (I think 5Dimes only takes Bitcoin as a cryptocurrency), you may want to consider an alternative currency such as Litecoin or ETH. Litecoin only cost me $.25 last time I used it and is much faster since right now it is the road less traveled compared to Bitcoin.

    Right now, everyone and their uncle is going in on Bitcoin so there's much more traffic which is driving the miner fee and wait time up. Also avoid sending to your intermediate wallet straight from Coinbase, and instead use GDAX since they don't charge a fee.

Top