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Thread: Another Bitcoin Question

  1. #1
    Mascot Capaholic's Avatar
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    Default Another Bitcoin Question

    Never dealt with them at withdrawal. Correct me if anything has changed as I've read this multiple places but nowhere recent enough :

    Book to Blockchain
    Blockchain to Coinbase?
    Coinbase? to cash withdrawal or to checking account. Is this right?

    Where would someone withdraw if cash? Literally have no clue about bitcoins.

    I need to get some large sums out in a few payments.

    Thanks in advance. Please bear with my lack of bitcoin experience

  2. #2
    The Vodka Shakes KJ's Avatar
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    I don't use it but make sure to monitor the value of buy/sell on the currency, it's been somewhat dramatic the last week. The way I understand it, you can ask for the withdrawal but it can take some time to process. It's priced at $2600 right now but got to below $2200 last week and that will have an effect on your return based on the time of the transaction. Here's a link to follow, I don't know what the time frame is that they process the transactions.

    https://www.investing.com/currencies/btc-usd

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    Mascot Capaholic's Avatar
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    Thanks KJ. Good to know. Def up and down a lot recently

    Anyone else who has like a step by step process to help it would be greatly appreciated

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    Raider Nation for Life cogenman's Avatar
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    Quote Originally Posted by Capaholic View Post
    Never dealt with them at withdrawal. Correct me if anything has changed as I've read this multiple places but nowhere recent enough :

    Book to Blockchain
    Blockchain to Coinbase?
    Coinbase? to cash withdrawal or to checking account. Is this right?

    Where would someone withdraw if cash? Literally have no clue about bitcoins.

    I need to get some large sums out in a few payments.

    Thanks in advance. Please bear with my lack of bitcoin experience
    I have a Coinbase account. And I have it linked to my savings account. I've only gone one way with it (cash from my savings account to Coinbase) as I invest and buy a crypto token called Ethereum. But I'm sure you can go the other way (Coinbase to your savings account). I've just never done that as I'm all in, in investing.

    Here is a screenshot from Coinbase if I wanted to sell BTC. It will give you two options 1. To deposit into a USD wallet on Coinbase. or 2. To deposit into your bank account (i'm showing my Wells Fargo account). I chose 2 so you can see what it looks like, and it would go to my Wells Fargo account if I really did sell. As always though, check with them just make sure. I'm 99.9% sure you can do it, it's just that I haven't because I'm all about investing right now and don't want anything out of bitcoin or ethereum.

    Name:  CB to WF.JPG
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  5. #5
    Mascot Capaholic's Avatar
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    Thanks a ton cogenman. I feel confident in coinbase to my account. But I've been told sportsbook directly to coinbase will not work. So if anyone has the missing step, I'd appreciate it.

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    Raider Nation for Life cogenman's Avatar
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    Quote Originally Posted by Capaholic View Post
    Thanks a ton cogenman. I feel confident in coinbase to my account. But I've been told sportsbook directly to coinbase will not work. So if anyone has the missing step, I'd appreciate it.
    I don't ever bet at a sportbook with bitcoin but I would think you'd have to get some type of wallet.

    There's a bunch of guys I think at this site that have been paid in BTC by a book so hopefully somebody will chime in soon.

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    CTG Super Moderator scarf31's Avatar
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    Cap, I went into a pretty thorough explanation in a prior thread where people start also jump in and ask questions. Check out this link and then there is nearly 3 pages of follow-up questions, advice and step-by-step ways to handle these bitcoin transactions. Hope this is helpful.

    http://www.cappingthegame.com/forum/...=1#post2836263

  8. #8

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    Quote Originally Posted by Capaholic View Post
    Thanks a ton cogenman. I feel confident in coinbase to my account. But I've been told sportsbook directly to coinbase will not work. So if anyone has the missing step, I'd appreciate it.
    FWIW I have gone book to coinbase a number of times.

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    CTG Super Moderator scarf31's Avatar
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    Quote Originally Posted by Nycskibum81 View Post
    FWIW I have gone book to coinbase a number of times.
    Glad to hear that there have not been any issues with that process, skibum.

    Adding the middle man (wallet in this case) is simply an extra precaution to connecting a US-based company in Coinbase, with an activity that is illegal in the US. I have had multiple people from this board and that I know personally that have done just CB to the books and have been perma-banned from Coinbase. Or at least have gotten subjected to them asking a slew of questions about what you're doing, providing proof and a whole bunch of other things nobody wants to get into.

    Simply google "can you send money from coinbase to your sportsbook" and there are people all over all sorts of places that recommend not doing it. But again, to each their own and I'm glad there haven't been any issues.

  10. #10
    Couch Potato Montanas's Avatar
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    Quote Originally Posted by Capaholic View Post
    Never dealt with them at withdrawal. Correct me if anything has changed as I've read this multiple places but nowhere recent enough :

    Book to Blockchain
    Blockchain to Coinbase?
    Coinbase? to cash withdrawal or to checking account. Is this right?

    Where would someone withdraw if cash? Literally have no clue about bitcoins.

    I need to get some large sums out in a few payments.

    Thanks in advance. Please bear with my lack of bitcoin experience
    So how did your withdrawal go ? I'm going this route soon wanted to know if it was a easy process.

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