So I made a small deposit at the start of football season and have since ran my balance up to 2k. I made one withdrawal a couple of weeks ago and want to make another one but was wanting to know how often should you make a withdrawal before Coinbase/blockchain starts getting suspicious? Also, should I keep it under a certain amount? Don’t want to go through the hassle of getting flagged. Thanks
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Suspicious? For what? As long as you keep a middle wallet between Coinbase and your sportsbook, they have no idea where the coin is coming from. You could be buying it at another exchange. I don't think we've ever seen someone get pinched by Coinbase that way.Comment -
Ok that’s good to know. ThanksComment -
In general I don’t believe people cash out enough, what’s the end goal, keep running it up or take a chunk out, nobody ever felt bad taking a profit
I’ve had no issues using coinbase latelyComment -
The best idea is to purchase a hardware wallet like a Ledger nano. When you're sending back and forth using an online wallet, you are at risk to their rules and regulations. With a hardware wallet, you own the seed so it doesn't matter the amount or where you receive from. If you're up to it, you can even create your own hardware wallet with a USB thumb drive. it's not that difficult.Comment -
You own the seed and have sole 100% control with any independent wallet like Electrum or even Blockchain.com's online wallet.
Don't spend money on a hardware wallet just to use as a middle man wallet.
Waste of money and just adds an extra point of failure to your system..Comment -
I agree.
And Coinbase will barely notice the number of withdrawals most bettors do.
The only reason there might be a concern about too many cashouts via Coinbase is that they will flag you as you using it for some sort of business use and will want to know what that is, under KYC rules..Comment -
Thanks guys!Comment
