Cashing out via Bitcoin?

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  • Guinser
    SBR Sharp
    • 11-04-10
    • 461

    #1
    Cashing out via Bitcoin?
    Can someone let me know easiest way to cash out Bitcoin from wallet? PayPal would be preferred can PM me if anyone knows reliable way
  • kidcudi92
    SBR Posting Legend
    • 12-14-11
    • 15434

    #2
    Sportsbook ---> blockchain ---> circle ---> bank acct
    Comment
    • Sam Odom
      SBR Aristocracy
      • 10-30-05
      • 58063

      #3
      Originally posted by kidcudi92

      Sportsbook ---> blockchain ---> circle ---> bank acct

      Better yet considering Circle's crackdown on gamblers

      Sportsbook ---> blockchain ---> 2nd blockchain or other wallet ---> circle ---> bank acct
      Comment
      • The Giant
        SBR Posting Legend
        • 01-21-12
        • 21480

        #4
        Circle gave me the boot, Sammy.

        Jerks.
        Comment
        • Sam Odom
          SBR Aristocracy
          • 10-30-05
          • 58063

          #5
          Giant , you aint by your lonesome
          Comment
          • The Giant
            SBR Posting Legend
            • 01-21-12
            • 21480

            #6
            Sammy, I know, but it still sucks.

            I just have to be extra careful at Coinbase. At least they have healthy limits.
            Comment
            • Guinser
              SBR Sharp
              • 11-04-10
              • 461

              #7
              Can you go straight from coinbase to a bitcoin atm? Or can I go sportsbook to coinbase to breadwallet? Thanks boys
              Comment
              • pattymayo
                SBR Posting Legend
                • 05-19-09
                • 10221

                #8
                Originally posted by Guinser
                Can you go straight from coinbase to a bitcoin atm? Or can I go sportsbook to coinbase to breadwallet? Thanks boys
                I'm assuming bread wallet is like Airbitz? If so yes you can, I go sports book to Airbitz to atm no problem
                Comment
                • blackHIPPY
                  SBR MVP
                  • 10-01-14
                  • 3973

                  #9
                  Originally posted by The Giant
                  Circle gave me the boot, Sammy.

                  Jerks.
                  Same
                  Comment
                  • BuckyOne
                    SBR MVP
                    • 01-02-15
                    • 2728

                    #10
                    Originally posted by Sam Odom
                    Better yet considering Circle's crackdown on gamblers

                    Sportsbook ---> blockchain ---> 2nd blockchain or other wallet ---> circle ---> bank acct
                    Good tip on the second wallet! Is there hassle going down the hill only i.e. fund with circle - coinbase > blockchain > sportsbook and then get out some other way?

                    But, I guess, one more layer - how does circle and coinbase find out where the money is going - is it possible to search the history of bitcoin transactions and do detective work on the end result?
                    Comment
                    • blackHIPPY
                      SBR MVP
                      • 10-01-14
                      • 3973

                      #11
                      Originally posted by BuckyOne
                      Good tip on the second wallet! Is there hassle going down the hill only i.e. fund with circle - coinbase > blockchain > sportsbook and then get out some other way?

                      But, I guess, one more layer - how does circle and coinbase find out where the money is going - is it possible to search the history of bitcoin transactions and do detective work on the end result?
                      yea, thats how they're catching ppl that are going from circle - blockchain - book
                      Comment
                      • BuckyOne
                        SBR MVP
                        • 01-02-15
                        • 2728

                        #12
                        So, what is a good suggestion on a second wallet? A sportsbook helped some of us set up a coinbase account in Costa Rica - what if it went there next?
                        Comment
                        • ATLIEN6
                          SBR MVP
                          • 01-15-16
                          • 1472

                          #13
                          I have also been looking into making my first bitcoin withdrawal and confused, i just send the address Heritage gives me to my blockchain wallet, that arrives instantly or within reason? Then i send the address blockchain gives me to my coinbase/circle acct that is linked to my bank account and i withdraw it into there and it arrives with 3-4 days? Sound correct?
                          Comment
                          • blackHIPPY
                            SBR MVP
                            • 10-01-14
                            • 3973

                            #14
                            Originally posted by ATLIEN6
                            I have also been looking into making my first bitcoin withdrawal and confused, i just send the address Heritage gives me to my blockchain wallet, that arrives instantly or within reason? Then i send the address blockchain gives me to my coinbase/circle acct that is linked to my bank account and i withdraw it into there and it arrives with 3-4 days? Sound correct?
                            if you are withdrawing, you would send the address to heritage to send money to. if youre depositing heritage gives you the address to send money to. from book to blockchain timeframe is all dependent on how quickly heritage decides to process it. from blockchain to circle/coinbase about 45 mins...from circle/coinbase to bank 1-4 business days.
                            Comment
                            • BuckyOne
                              SBR MVP
                              • 01-02-15
                              • 2728

                              #15
                              Originally posted by ATLIEN6
                              I have also been looking into making my first bitcoin withdrawal and confused, i just send the address Heritage gives me to my blockchain wallet, that arrives instantly or within reason? Then i send the address blockchain gives me to my coinbase/circle acct that is linked to my bank account and i withdraw it into there and it arrives with 3-4 days? Sound correct?
                              Yes, but the catch 22 is you get kicked out of circle for receiving gambling funds if you are from the USA or Canada. Maybe, you are not and then you are on Easy Street.
                              Comment
                              • ATLIEN6
                                SBR MVP
                                • 01-15-16
                                • 1472

                                #16
                                Okay so has anyone determined a better wallet to use then Circle that is not going to kick you out. If it was my first and only withdrawal using them for 1k is it gonna raise flags or should i be good my first time?
                                Comment
                                • BuckyOne
                                  SBR MVP
                                  • 01-02-15
                                  • 2728

                                  #17
                                  I got kicked out of coinbase the first time I tried to cash out so, I sent it back to blockchain and spent it . I've got circle now and don't want to lose it so I am on the learning curve like you.

                                  Another wallet? I don't know - if they can find what you spent the money on with one wallet - I am not sure how to scrub it clean - send it through 3 wallets? when/how do we give them the slip where there is a firewall we can pass through and they cannot see what we are doing anymore?

                                  Send to an individual and then they send back to our wallet???

                                  LOL - it is all good - players are using it and it is working so there has to be a way?
                                  Comment
                                  • Memento
                                    SBR MVP
                                    • 01-28-15
                                    • 1192

                                    #18
                                    Originally posted by ATLIEN6
                                    Okay so has anyone determined a better wallet to use then Circle that is not going to kick you out. If it was my first and only withdrawal using them for 1k is it gonna raise flags or should i be good my first time?
                                    First, how bad do you need the money? Are you planning on betting anymore this season? If so, why are you taking it out. If you don't need the money and plan on gambling...why not just leave it in your book? If you need money, take it out and be done gambling for a while. Don't take it out and a week later deposit more and then withdrawal and keep doing that nonsense over and over....you will get banned.
                                    Comment
                                    • ATLIEN6
                                      SBR MVP
                                      • 01-15-16
                                      • 1472

                                      #19
                                      Originally posted by Memento
                                      First, how bad do you need the money? Are you planning on betting anymore this season? If so, why are you taking it out. If you don't need the money and plan on gambling...why not just leave it in your book? If you need money, take it out and be done gambling for a while. Don't take it out and a week later deposit more and then withdrawal and keep doing that nonsense over and over....you will get banned.
                                      No i don't need the money, but whenever i reach a certain amount, i take out 1k etc. Im not the type of person to deposit/withdrawal couple times a month, if anything withdraw once a month.
                                      Back to my original question in regards to everyone saying they are getting locked out of their account, is it even worth my time or should i just get a check?
                                      Comment
                                      • BuckyOne
                                        SBR MVP
                                        • 01-02-15
                                        • 2728

                                        #20
                                        My opinion is withdraw to blockchain - transfer to circle in an account in USD - sit tight - leave it there - do not withdraw to your bank account - you have it in the system and you can go back and fund an account with blockchain down the road. I just think Circle and Coinbase are not options to withdraw all the way to your bank account for the USA or Canada. Only deposit options and holding options.

                                        Curious if anybody agrees with me?
                                        Comment
                                        • ParlayKing1986
                                          SBR Sharp
                                          • 06-02-12
                                          • 278

                                          #21
                                          Get a bitpay card...sportsbook to blockchain to bitpay have your cash in hands within minutes.
                                          Comment
                                          • lonegambler23
                                            SBR Hall of Famer
                                            • 06-22-16
                                            • 9760

                                            #22
                                            coinbase works perfectly fine.
                                            Comment
                                            • unluckysob
                                              SBR MVP
                                              • 05-21-08
                                              • 1527

                                              #23
                                              can you withdraw bitcoin if you deposited cash using other means?
                                              Comment
                                              • Optional
                                                Administrator
                                                • 06-10-10
                                                • 61480

                                                #24
                                                Originally posted by unluckysob
                                                can you withdraw bitcoin if you deposited cash using other means?
                                                Depends on the book but generally they like you to deposit that way if you want to continually withdraw bitcoin. Some will let you do it once or twice.
                                                .
                                                Comment
                                                • cmaulsby
                                                  SBR Sharp
                                                  • 03-28-12
                                                  • 261

                                                  #25
                                                  I've never had a problem with bitcoin withdrawals but I use two wallets and move differing amounts. I.E. Sportsbook $500 to wallet 1. $493 from Wallet 1 to wallet 2. $488 from wallet 2 to coinbase. $480 from coinbase to bank acct.
                                                  Comment
                                                  • Buffalo Nickle
                                                    SBR MVP
                                                    • 11-12-14
                                                    • 3228

                                                    #26
                                                    Originally posted by BuckyOne
                                                    My opinion is withdraw to blockchain - transfer to circle in an account in USD - sit tight - leave it there - do not withdraw to your bank account - you have it in the system and you can go back and fund an account with blockchain down the road. I just think Circle and Coinbase are not options to withdraw all the way to your bank account for the USA or Canada. Only deposit options and holding options.

                                                    Curious if anybody agrees with me?
                                                    Definitely. They gave these dollar wallets in hopes that people would use them to kind of replace their checking account and pay for stuff with bitcoin. That is obviously not going to happen but that is their hope and their business model.

                                                    All of these transfers cost them money and you want to be a low-cost customer. So hold what you are willing to there and just wait for another deposit. If you are moving money out all the time, they are going to start to look at what you are up to. If you are just a quiet customer, you may never get looked at.
                                                    Comment
                                                    • 5918mike
                                                      SBR MVP
                                                      • 04-16-14
                                                      • 1885

                                                      #27
                                                      Originally posted by BuckyOne
                                                      My opinion is withdraw to blockchain - transfer to circle in an account in USD - sit tight - leave it there - do not withdraw to your bank account - you have it in the system and you can go back and fund an account with blockchain down the road. I just think Circle and Coinbase are not options to withdraw all the way to your bank account for the USA or Canada. Only deposit options and holding options.

                                                      Curious if anybody agrees with me?
                                                      How do you end up getting your money then. I'll send some from different books to blockchain, send it to other books, some to coinbase, sit on some and make a couple other transfers and eventually send it to my bank account. What I do avoid is say sending a $500 payout to blockchain then to coinbase then to my bank account all in a series the same day.
                                                      Comment
                                                      • Optional
                                                        Administrator
                                                        • 06-10-10
                                                        • 61480

                                                        #28
                                                        If I was US and shipping around 5k plus very often then I'd avoid the scrutiny and use a non-US trading platform like independentreserve.com to sell my btc and get paid by wire. Higher sell price than Coinbase/Circle there too generally.

                                                        Just use the US ones for the convenience of being able to buy more easily.
                                                        .
                                                        Comment
                                                        • TheCon
                                                          SBR Hustler
                                                          • 07-26-16
                                                          • 53

                                                          #29
                                                          I'm on nitrogen when i withdraw i withdraw to my bitcoin wallet then use a Bitcoin ATM machine to withdraw i can withdraw $500 from nitrogen to my hands in 30 minutes.
                                                          Comment
                                                          • CWD
                                                            SBR Hall of Famer
                                                            • 01-22-12
                                                            • 7665

                                                            #30
                                                            Originally posted by TheCon
                                                            I'm on nitrogen when i withdraw i withdraw to my bitcoin wallet then use a Bitcoin ATM machine to withdraw i can withdraw $500 from nitrogen to my hands in 30 minutes.
                                                            how bad is the % fee at the atm ?
                                                            Comment
                                                            • kj8210
                                                              SBR Wise Guy
                                                              • 02-09-12
                                                              • 919

                                                              #31
                                                              find a buyer on localbitcoins. I already have a few buyers set up and ready for football season. Lets go boys!!
                                                              Comment
                                                              • raiders72001
                                                                Senior Member
                                                                • 08-10-05
                                                                • 11119

                                                                #32
                                                                Circle/Coinbase users can use an exchange (Poloniex, BTC-e, Bitstamp) in the middle instead of a wallet (blockchain) to keep from getting banned.
                                                                Comment
                                                                • BuckyOne
                                                                  SBR MVP
                                                                  • 01-02-15
                                                                  • 2728

                                                                  #33
                                                                  Originally posted by 5918mike
                                                                  How do you end up getting your money then. I'll send some from different books to blockchain, send it to other books, some to coinbase, sit on some and make a couple other transfers and eventually send it to my bank account. What I do avoid is say sending a $500 payout to blockchain then to coinbase then to my bank account all in a series the same day.
                                                                  Banks are the issue - they are really worried about the gambling law. I hate wires - PTP! AND, I have written off ever withdrawing money to my bank account. I believe in dancing around until there is a favorable withdrawal method such as money orders - transfer to debit card. And, I am going to work on a bitcard and localbitcoin.

                                                                  I see the problem from the sportsbooks side - money is vulnerable to seizure if held in a checking account. Do the wire one at a time - pop - pop -pop. P2P - they are not at risk.

                                                                  But, the player is - bank sees a red flag on international wires. P2P is so transparent (why did you receive money from 31 hispanic folks in the past year?)

                                                                  So, bitcoin is a part of solving the puzzle. If we can do it without making the bank,Circle, or Coinbase mad at us.
                                                                  Comment
                                                                  • BuckyOne
                                                                    SBR MVP
                                                                    • 01-02-15
                                                                    • 2728

                                                                    #34
                                                                    Originally posted by raiders72001
                                                                    Circle/Coinbase users can use an exchange (Poloniex, BTC-e, Bitstamp) in the middle instead of a wallet (blockchain) to keep from getting banned.
                                                                    thanks for the tip! On it! does that provide the needed layer? Circle/bitstamp/blockchain will work up the hill and down the hill???
                                                                    Comment
                                                                    • Optional
                                                                      Administrator
                                                                      • 06-10-10
                                                                      • 61480

                                                                      #35
                                                                      Originally posted by BuckyOne
                                                                      bank sees a red flag on international wires.
                                                                      Not sure about your account situation but I don't think is correct in general.

                                                                      There is no way any US bank could red flag and check every one of the thousands of wires they send and receive daily. They are a well established money transfer mechanism that are normal for businesses to use.
                                                                      .
                                                                      Comment
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