[3runhomer]

I am at both Bitstamp and Kraken. I am not in a hurry so I actually treat trade like a real trader would trying to profit. Sell high, buy low before moving to Coinbase. For those in a hurry, Kraken charges 0.16% per trade, which is not bad at all. However, transferring out costs 0.05 Btc, which at $530 equates to 26.50. Haven't used Bitstamp yet, I only signed up there. Will probably use them next time to mix things up.

I like the idea of using an exchange that is outside of the US...but isn't Kraken in San Fran...and Bitstamp has 3 offices worldwide, with 1 being in New York...

Are there any exchanges that have no ties to the US?

[Redwing41]

I am at both Bitstamp and Kraken. I am not in a hurry so I actually treat trade like a real trader would trying to profit. Sell high, buy low before moving to Coinbase. For those in a hurry, Kraken charges 0.16% per trade, which is not bad at all. However, transferring out costs 0.05 Btc, which at $530 equates to 26.50. Haven't used Bitstamp yet, I only signed up there. Will probably use them next time to mix things up.

.05 isnt that bad if you are transferring a large amount. I've never used kraken or Bitstamp they work like coinbase, you deposit in an online wallet, buy and sell then transfer?

I still think coinbase will find a way to say they suspect that the money is coming from gambling if you continually are withdrawing an unusually large amount of money.

Maybe I will sell on locabitcoin, take the 2-3 percent profit get my payout in cash, buy a car below blue book value + sell above then pay taxes only on the profits.

[LT Profits]

I like the idea of using an exchange that is outside of the US...but isn't Kraken in San Fran...and Bitstamp has 3 offices worldwide, with 1 being in New York...

Are there any exchanges that have no ties to the US?

Well I'll be damned, I always thought Kraken was in Luxembourg.

Although now that I think about it, it may not matter that it is USA based provided you make at least one legitimate trade.

[TheMoneyShot]

This is one of the better threads for BTC. Has to be Top 3... if not one of the best in regards to behind the scenes info.

[pixster]

This is one of the better threads for BTC. Has to be Top 3... if not one of the best in regards to behind the scenes info.

I'll drink to that.

[Grivas_Digeni]

Great thread.

Nothing in gambling is ever granted. You've gotta roll with the punches, just ask 5dimes who don't accept any e-money any more, but accept BTC.

Based on what I've heard from fellow American posters, anything under 5% (and maybe even 10%) total fees on this card (rather, sports book->cash in hand) would be acceptable to most. Would be very interested to hear actual reports on what each individual user ends up paying after miner fees, sports book withdrawal fees - if any - ATM fees etc.

[3runhomer]

Well I'll be damned, I always thought Kraken was in Luxembourg.

Although now that I think about it, it may not matter that it is USA based provided you make at least one legitimate trade.

Your right...I think doing at least 1 trade will dis-associate the coins from their previous addresses (I think)...and then when you withdraw from there, it will be a new ball game

[spro23]

you have to give them DL and SSN for bitpays card..

[Redwing41]

Your right...I think doing at least 1 trade will dis-associate the coins from their previous addresses (I think)...and then when you withdraw from there, it will be a new ball game

Doesnt those places that you trade also dont want your dirty gambling money? Kraken, bitstamp or where ever are also licensed exchanges that follow the rules coinbase does??

[Redwing41]

What are your thoughts on giving out your SSN or (Social insurance number as call it in Cananda) to coinbase, circle, xapo, bitpay, an exchange that you deposit money to your bank? I dont personally mind them having my number. I do mind them possibly being able to check if I am paying my taxes on my coins or if they can somehow link me back to gambling. Could be entirely safe but you never know how they run their security or what type of protocol they have to adhere to. Can they even see these things with my SSN or SIN card? I would think them being connect to my bank could suck if the bank gets in touch with coinbase.

[Optional]

Your right...I think doing at least 1 trade will dis-associate the coins from their previous addresses (I think)...and then when you withdraw from there, it will be a new ball game

It's a bit more complicated that that. It might take more than one trade. Depends on how much activity at exchange at the moment you do the trade.

But don't worry so much about being traced. If someone wants to do that working back from your cashouts they will be able to most of the time. Doing a trade like this gives coinbase the evidence to say it might not be gambling funds more than anything else.

[Hothands12]

Did Any of you guys have to enter a company name for bit pay or am I doing this wrong

[Ghenghis Kahn]

Did Any of you guys have to enter a company name for bit pay or am I doing this wrong

no didn't have to enter a company name. but i ordered mine on 5/28 and still haven't received it yet. it's taking a while.

[TheMoneyShot]

no didn't have to enter a company name. but i ordered mine on 5/28 and still haven't received it yet. it's taking a while.

Still waiting on mine also.

[ParlayKing1986]

Ordered mine on 27th..havent received it..called and they said no later than friday.

[Grivas_Digeni]

What are your thoughts on giving out your SSN or (Social insurance number as call it in Cananda) to coinbase, circle, xapo, bitpay, an exchange that you deposit money to your bank? I dont personally mind them having my number. I do mind them possibly being able to check if I am paying my taxes on my coins or if they can somehow link me back to gambling. Could be entirely safe but you never know how they run their security or what type of protocol they have to adhere to. Can they even see these things with my SSN or SIN card? I would think them being connect to my bank could suck if the bank gets in touch with coinbase.

You run a higher risk getting your personal info stolen every time you buy a sandwich at Subway or leave your computer on overnight, than sending your scans to a company like this.

The other concern - whether giving them this information exposes you to potential checks - is a more serious one. I believe it's not the company's problem if you pay taxes... who cares... but it may be required to share some of the information it collects, with the government.

In most cases, however, the company is required by law to tell you, the customer, which information it can and will share with government agencies on a regular basis (if you are a criminal, they owe you nothing, of course, but if you are a regular user, and you ASK THEM, they must tell you whether or not they share any of your info with any third party, including IRS etc)

Is this close or have I seen too many Hollywood movies?

[Courtesywipe]

Ordered mine on 27th..havent received it..called and they said no later than friday.

Same day I ordered. Nothing yet. And I got a fair amount I want to cash out.

[3runhomer]

Keep us posted guys...

[bullheaddad]

Great thread!! Ordered my card yesterday.

[ParlayKing1986]

Checked mail..still no card.

[Courtesywipe]

Checked mail..still no card.

Yep. Will be two weeks for me as of tomorrow.

[3runhomer]

Is it safe to assume that any money you load onto this card carries the same effects as if you exchanged bitcoin for usd at coinbase or any other exchange and sent to your bank?

Both I'm assuming are considered "taxable" events by the irs?

[Ghenghis Kahn]

anyone actually received the card and used it yet? why is no one getting their cards?

[themike78]

Is it safe to assume that any money you load onto this card carries the same effects as if you exchanged bitcoin for usd at coinbase or any other exchange and sent to your bank?

Both I'm assuming are considered "taxable" events by the irs?

I'm sure it's the same because the card is from a bank and you have to give them s.s number.

[ParlayKing1986]

Wow these asshats...i know i put the apartment number ..and i didnt receive it again today and called them and they said it was never delievered because there wasnt an apartment number....now have to wait another 7-14 bd. Unbelievable.

[Ghenghis Kahn]

Wow these asshats...i know i put the apartment number ..and i didnt receive it again today and called them and they said it was never delievered because there wasnt an apartment number....now have to wait another 7-14 bd. Unbelievable.

wow, i don't like how things are turning out. they seem a little shady.

[Ghenghis Kahn]

Ordered mine on 27th..havent received it..called and they said no later than friday.

why didn't they tell you when you called the first time. things like this piss me off. you know they are deliberately trying to stall to give you the card. makes no sense. any good company would want you to have the card asap so you can use their services.

[Ghenghis Kahn]

i just called and they said i should be receiving the card next week. this is a shady ass company.

i asked why none of the people are getting their cards and this ghetto ass black bitch was giving me attitude saying, it takes 7 to 10 business days. i told her well it's been 10 business days. then she kept saying you'll get the card next week. wtf?

[themike78]

What's the name of the bank associated with the card? Are they a big bank?

[Ghenghis Kahn]

i highly doubt they're associated with a big bank.

[3runhomer]

I received my card a week ago...but haven't got a chance to load or use it yet.

[3runhomer]

What's the name of the bank associated with the card? Are they a big bank?

From the card's cardholder agreement page:

"Terms and Conditions for the BitPay Prepaid Visaź Card. This document constitutes the agreement (“Agreement”)outlining the terms and conditions under which the BitPay Prepaid **** Card has been issued to you by MetropolitanCommercial Bank (Member FDIC) pursuant to a license from ****, U.S.A., Inc. “Metropolitan Commercial Bank” and“Metropolitan” are registered trademarks of Metropolitan Commercial Bank © 2014."


https://bitpay.com/****/resources/Ca..._Agreement.pdf

[3runhomer]

http://www.metropolitanbankny.com/


On the "About Us" page:

Metropolitan Commercial Bank by the Numbers*

Established	1999
Full-Service Banking Centers	Manhattan - Park Avenue, Diamond District & Garment Center Brooklyn - Boro Park Long Island- Great Neck
Employees	103
Total Assets	$1,069,570,000
Total Deposits	$893,527,000
Total Loans	$874,237,000
Prepaid Card Spend	$1.25 billion
ATMs Available to Clients at No Cost	1 million +

[ParlayKing1986]

Odd..received my card today..and activitated..regret blowing my 5d balance..going to deposit and try to withdraw tonight!

[ParlayKing1986]

Well tried to set up my online access and the damn website doesnt even load....hard to trust them loading my money on it when it doesn't seem reliable at all.