Anybody ever try to withdraw bitcoin from a book by sending it to the deposit address of another book. I know from experience that Coinbase will freeze your money for around ten days if you try to skip the virtual wallet step and send your bitcoin directly to a book. Do books actively prohibit this as well?
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Why cant you just use a different wallet other than coinbase?
Use blockchain, mycelium, electrum, etcComment -
It's probably fine. Which books in particular? As long as they dont have an unusual rule about how long it takes you to send the bitcoin it should be fine.
But as Droopy says above. No real need to take any risk doing it that way. Just open a free blockchain.com/wallet and withdraw to there and deposit it yourself.
Will only take 10 mins extra and maybe 50 cents cost..Comment -
I have a wallet just wanted to skip a step. I want to be able to transfer between Intertops, 5dimes, and Nitrogen. If each book doesn't care It will give me Liquidity between the 3 sites. Coinbase charges a fee this would eliminate that also.Comment -
It's fine. I've done it many times.Comment -
If you are sending to 5Dimes, make sure that you understate the amount you are sending so that even if price fluctuates before Intertops send, you'll still be sending more than you input on the deposit form.
I don't think there would be any procedural problem direct depositing into Intertops or Nitro.
Honestly though, it's best to always be a party to every transfer you make, so your retain rights over the coin at all times and also do not have to try and get two third parties to sort out issues if one comes up..Comment -
Alright great to hear. Thanks fellasComment -
I remember book to book transfers used to be popular I don’t think many do it anymoreComment -
Heritage requires a new address everytime, but sending into Heritage from AC or other broker works fine. Saves you the confirmations .Comment -
If you leave it to the books, you are at their mercy with what kind of fee they send the transaction with. You could find yourself in a situation waiting a long time for a confirmation. I have had some of the big books on occasion send with an extremely low fee that didnt get confirmed for 2 days.
Now, I make sure I receive to a wallet where I can control the fee, and can send a child pays for parent type fee to speed it upComment -
Just send it to blockchain and then blockchain to the other book. Not worth moving directly from book to book like that. You don't know how fast they will pay out and some books require it be sent to them within a certain time frame.Comment -
Yes it can be done but you would have no control if something goes wrong. Better to go through your own wallet for tracking purposes.Comment -
yea you do its all traceable but have to be careful you dont use a site which has an address that expires after a given time when receiving just to be safe...I do it daily between Nitrogen, Fairlay and my agent accounts AC88-Odyss99 no issues ever but the btc address are static and same every timeComment -
I do this all the time with major Books EXCEPT 5D. When depositing into 5D, their system puts you on the clock as soon as you request a BTC address. At that point, you get the WORSE of the time of your deposit or time you REQUESTED a BTC address. My last BTC deposit was from Bovada to 5D, but it took 2 days to get done. BTC dropped during that time resulting in a $150 loss for me, despite the fact that BTC price was basically unchanged from the actual time it was sent. I had to get SBR involved to recover this phantom loss. AVOID depositing into 5D this way. Otherwise it is ok to transfer funds this way with top tier books.Comment
