Originally posted on 09/12/2017:

Quote Originally Posted by Pigpen View Post
Really interested in getting involved with Bitcoin. If I set up my coinbase and wallet I can cash in my betpoints for bitcoin. If I exchange points for bitcoin SBR sends the coins to my wallet and then I can transfer them either to coinbase or a sportsbook. Is this correct?
You can do that if you want to ignore the Coinbase rules about gambling usage and hope they dont notice.

Also, Coinbase is an exchanger, not a wallet provider. They have a wallet attached to your account in order to handle the bitcoin used there, but you have zero control over that wallet. They are not a 'wallet' and they do not especially want you to use them that way either.

Blockchain.info/wallet is a independent wallet which you have complete control over.

Coinbase can start asking you for ID or demand to know what you do with your bitcoin if they want, so I would never store any there. Just use them to buy or sell and get it out of there fast.


Best practice is to go SBR > Blockchain Wallet > to a Sportsbook to deposit or to Coinbase to cashout

Or buy new Bitcoin from Coinbase > Blocchain Wallet > Sportsbook deposit.

Or cash out from a Sportsbook > Blockchain Wallet > Coinbase to sell and cashout