bitcoin exchange at books

**RoyBacon** · 12-08-17, 09:11 PM

With everything going on I’m going with Heritage for now. Good CS and they are the fastest with btc.

**littlekona** · 12-08-17, 11:48 PM

Heritage gives you an exact exchange rate when I generate a btc deposit address...A+ book all the way

**Optional** · 12-09-17, 01:33 AM

Originally posted by searanchdude

So I never paid much attention to the exchange rate I got when depositing at books. Whenever I calculated it, it seemed to be much less than 1% variance. But with all the bitcoin craziness, I thought I would check again when depositing for this weekend's football action.

I deposited 2000 at sportsbook.ag (D- rated book, but am addicted to their bonuses) and they gave me a straight up rate on par with coinbase.

I deposited $3000 at heritage and lost $81 in the exchange (2.5%, wasn't too happy about that)

I was about to deposit $5000 at Bovada, and I was going to lose $200 on the exchange rate! That's 4% and highway robbery. I didn't go through with it.

So I guess that's another variable I need to add to my decision of which books get my action.

These sort of threads are so misleading.

Bovada use the exchange rate published by Bitstamp.

They have no extra fees or exchange premium.

Coinbase always shows a higher rater than most others, partly because they are a retail exchanger, not a full trading exchange.

You cant compare the Coinbase guideline price shown with the market and say other rates are wrong, at the best of times. And this is far from the "best of times".

This week another issue is that Coinbase is ramping up it's customer base and activity so fast it is having trouble keeping up and creating artificial extra high exchange rates to occur there. At times they were $1500 above market average.

Basically, you might find you do better at Bovada than Sportsbook next week. It's just the swings and roundabouts of a volatile market causing different exchange's rates to diverge.

**searanchdude** · 12-10-17, 02:46 PM

Originally posted by Optional

These sort of threads are so misleading.

Bovada use the exchange rate published by Bitstamp.

They have no extra fees or exchange premium.

Coinbase always shows a higher rater than most others, partly because they are a retail exchanger, not a full trading exchange.

You cant compare the Coinbase guideline price shown with the market and say other rates are wrong, at the best of times. And this is far from the "best of times".

This week another issue is that Coinbase is ramping up it's customer base and activity so fast it is having trouble keeping up and creating artificial extra high exchange rates to occur there. At times they were $1500 above market average.

Basically, you might find you do better at Bovada than Sportsbook next week. It's just the swings and roundabouts of a volatile market causing different exchange's rates to diverge.

Sorry for the misleading post and thanks for the extra info. Hopefully the volatility subsides and we don't have to worry about these things.

**RoyBacon** · 12-10-17, 07:37 PM

5 Dimes uses some kind of average price. A link was posted once. I think all is groovey because the price is skyrocketing. Gonna be some grumblings if(when) it heads south.

**Optional** · 12-11-17, 01:11 AM

Originally posted by RoyBacon

5 Dimes uses some kind of average price. A link was posted once. I think all is groovey because the price is skyrocketing. Gonna be some grumblings if(when) it heads south.

Yes for sure.

Especially with the influx of new users recently. Finding out you can lose as well as win on the transaction, and there is nobody to blame no matter how much you want it to be the books/exchanges fault, sends some people on tilt first time.

**evo34** · 12-11-17, 05:34 AM

Does anyone have a list of what each major book uses as its source for the exchange rate, and what timing system they use? I.e., do you get the rate at the time you indicate you intend to deposit, the time your deposit is sent (but not confirmed), or the time it is confirmed and accepted by the book? Same question for payouts.

@littlekona Are you positive Heritage gives the exchange rate they show when you make a deposit? I believe they give you whatever Blockchain indicates at the moment you send.

BTW, BTC prices are all over the place right now, so it's going to pay to know which book uses which source before submitting anything:

http://climateerinvest.blogspot.com/2017/12/taleb-dont-short-bitcoin.html

**Optional** · 12-11-17, 05:38 AM

Originally posted by evo34

Does anyone have a list of what each major book uses as its source for the exchange rate, and what timing system they use? I.e., do you get the rate at the time you indicate you intend to deposit, the time your deposit is sent (but not confirmed), or the time it is confirmed and accepted by the book? Same question for payouts.

@littlekona Are you positive Heritage gives the exchange rate they show when you make a deposit? I believe they give you whatever Blockchain indicates at the moment you send.

BTW, BTC prices are all over the place right now, so it's going to pay to know which book uses which source before submitting anything:

http://climateerinvest.blogspot.com/2017/12/taleb-dont-short-bitcoin.html

Betonline quotes a price they commit to if it hits the blockchain within 15 mins. Dont know where it comes from. It's been better than Blockchain quote each time i have deposited.

Bovada uses Bitstamp.

5Dimes uses mid point of bid/ask at Bitpay

**littlekona** · 12-11-17, 11:44 AM

Originally posted by evo34

Does anyone have a list of what each major book uses as its source for the exchange rate, and what timing system they use? I.e., do you get the rate at the time you indicate you intend to deposit, the time your deposit is sent (but not confirmed), or the time it is confirmed and accepted by the book? Same question for payouts.

@littlekona Are you positive Heritage gives the exchange rate they show when you make a deposit? I believe they give you whatever Blockchain indicates at the moment you send.

BTW, BTC prices are all over the place right now, so it's going to pay to know which book uses which source before submitting anything:

http://climateerinvest.blogspot.com/2017/12/taleb-dont-short-bitcoin.html

Heritage gives you the exact rate they will use...once you hit make a deposit under bitcoin...like right now it is 1 BTC = $16312.1 USD ...

ohh and on your "I deposited 2000 at sportsbook.ag" PLEASE Don't plenty of books will give you reload bonus AND then PAY You if you win!!!!!!!!!!

**Crusherrr** · 12-11-17, 11:59 AM

Originally posted by littlekona

Heritage gives you the exact rate they will use...once you hit make a deposit under bitcoin...like right now it is 1 BTC = $16312.1 USD ...

I've definitely not deposited at Heritage several times now because the rate they have would cost me money.

Bovada is just like BetOnline and Bookmaker where if you want to deposit $1000 they tell you to send .0742283 or whatever the amount may be within 15 minutes. I don't understand why you would have lost $200 on the deposit.