[goduke]

I’m sure this has already been asked and if so just point me in the right direction but I have a few questions regarding fees after basically getting bent over a few times through coinbase(70 dollars lost through the transaction from book to wallet then 130 dollars to covert 9k to cash)
1. Are there any wallets/exchanges that have low fees to change Bitcoin to dollars. With this I would need the exchange to have a wallet as well so I could get my sports book payout there?
2. In following question 1, do they also have an option to withdraw directly to your bank account?

Thanks for the help!

[goduke]

No wonder everyone puts their threads directly in players talk. Crickets around here

[LLXC]

You have access to different exchanges depending on where you live. Since most on SBRForum are in the states, the often used exchanges are Coinbase (if you use Coinbase, make sure you use their Pro version for cheaper fees), Gemini, Kraken, and Binance.us.

For safety reasons, you usually transfer BTC from your book to a 3rd party wallet (the fee here is often paid for by the book), before transferring again to these exchanges (you will have to pay the fee for this). The reason for this is that exchanges have been known to close accounts used for gambling purposes. Then you pay a trade fee to sell BTC to USD, and then withdraw to your bank account.

[goduke]

You have access to different exchanges depending on where you live. Since most on SBRForum are in the states, the often used exchanges are Coinbase (if you use Coinbase, make sure you use their Pro version for cheaper fees), Gemini, Kraken, and Binance.us.

For safety reasons, you usually transfer BTC from your book to a 3rd party wallet (the fee here is often paid for by the book), before transferring again to these exchanges (you will have to pay the fee for this). The reason for this is that exchanges have been known to close accounts used for gambling purposes. Then you pay a trade fee to sell BTC to USD, and then withdraw to your bank account.

Absolutely none of this actually addressed my questions lol

[PharaohUB]

Not sure what you mean you lost $70 going from book to wallet. You received all the coins sent correct? If the value changes before you convert to cash there is no exchange that can solve that for you. $130 on 9k it’s just a little over 1%. I’m not sure how coinbase works. Is that a fee they charged you? Or just that when you sold the coins they were down another $130 in value? I can’t imagine there is much better out there. 1% isn’t bad to convert to cash. If a loadable **** card interests you you can try crypto.com. I think they load the card up at market rate with no fee. But you’re always at the mercy of the market changing. The book isn’t sending you 9 thousand dollars they are sending you 9k worth of coins. And there have been a lot or valuation swings recently on the coins throughout the day it’s always changing

[PharaohUB]

If you want to get the most bang for your bucks sell them to people on local bitcoins. But it’s a hustle and not easy and have to be careful not to be scammed.
Bitrefill is a cool site if you want gift cards. They pretty much at cost with small discount.
Also transact in alt currencies as much as possible. Their transaction fees are way lower.

[littlekona]

Gemini is 2% to sell. Bitpay is great but network and miners fees are high. the Average miners fee is bit over $10. Problem is people are just dumb send whatever fee the walet defaults too. I can send with fee under $3 and get a confirmation in 20 mins if the inputs and outputs are 1 or 2 and confirmed. Local Bitcoin I sell on too and its great BUT for a newbie with low transactions and not much expeirence using the site and with the buyers have to be careful

[themike78]

If you want to get the most bang for your bucks sell them to people on local bitcoins. But it’s a hustle and not easy and have to be careful not to be scammed.
Bitrefill is a cool site if you want gift cards. They pretty much at cost with small discount.
Also transact in alt currencies as much as possible. Their transaction fees are way lower.

Localbitcoins only serves like 10 states now. I got an email a few weeks ago and they closed my account because I'm not in 1 of those states. Weird why they would do that. It sucks because I used them everyday pretty much. Paxful is good too but they have higher fees. You can make some decent money selling if you are patient. You do have to be careful though with the scammers. They got me a few times reversing paypal transactions and paypal will side with the scammer.

[PharaohUB]

Localbitcoins only serves like 10 states now. I got an email a few weeks ago and they closed my account because I'm not in 1 of those states. Weird why they would do that. It sucks because I used them everyday pretty much. Paxful is good too but they have higher fees. You can make some decent money selling if you are patient. You do have to be careful though with the scammers. They got me a few times reversing paypal transactions and paypal will side with the scammer.

Fck LBC. I had coins in the account and someone opened a dispute saying I disputed a PayPal transaction which I didn’t. My PayPal account had been closed down around same time for using PayPal to buy bitcoin (before they were cool with it) and I couldn’t log into my account to prove it and PayPal wouldn’t talk to me. Fck PayPal too. And fck cash app and Venmo also. They both banned me for life for buying bitcoin with their apps back when all these companies thought it was just for scammers. I have 0.36 bitcoins in my lbc account I can see but not withdraw. That’s like 17k.