Best wallet for Crypto Sportbooks deposits/withdrawals? - page 2.

chaser15

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Quote from: crzy on August 14, 2021, 05:56:21 PM

I’m using an exchange wallet without experiencing any problem here, maybe its because the amount of money is just small. Well, to be more safe I have to think for other options as well and many here suggested Electrum, I’m not sure though if it will work. How about if you’re going to withdraw and deposit thru LTC? Any good wallet to use for?

As you said, you don't have any problem using an exchange wallet. If your exchange wallet supports LTC then just do the same.

For non-custodial wallets, you can use Coinomi, hardware wallet Trezor, or the LTC core wallet which you can found on their official website.

https://litecoin.com/en/individuals

Furious 7

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Quote from: Vaskiy on August 14, 2021, 06:37:37 PM

Gambling sites have inbuilt wallet and vault. It helps with the unwanted spending on different bets in terms of transaction fee. There is a talk that gambling sites will cheat the users which is true. But, the same won't be done by the reputed platforms. Whether it is an exchange or a gambling site, it is good to enable all the security features available, in specific 2FA. This will add more security to the Holdings.

Of course gambling sites have wider vaults to pay for all betting costs including deposits and withdrawals as well as exchanges that have special wallets to accommodate more wallets everywhere, but what the OP is asking is a safe wallet for gambling transactions and they are afraid to save on the exchange it will be frozen, so in my view it is different that all transactions are the same except for large expenditures or what is called money laundering then it will be questioned but for those of us who will not achieve larger transactions then we tend to do it less but often do it.

All features must still be guarded for unwanted security, including on gambling sites and in the wallets that we hold, to be more secure so that there is nothing to be afraid of.

blockman

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Quote from: crzy on August 14, 2021, 05:56:21 PM

I’m using an exchange wallet without experiencing any problem here, maybe its because the amount of money is just small.

Just stop using an exchange wallet when you withdraw but for deposits, I think that you won't experience any problem from there. Based on my experience, it's not really a good one and the exchange might surprise you with an email noticing what you did and where your source came from.

Quote from: crzy on August 14, 2021, 05:56:21 PM

Well, to be more safe I have to think for other options as well and many here suggested Electrum, I’m not sure though if it will work.

Electrum is very well one of the best wallets out there, easy to use and lite.

Quote from: crzy on August 14, 2021, 05:56:21 PM

How about if you’re going to withdraw and deposit thru LTC? Any good wallet to use for?

Just the usual multi-currency wallets will do, search what you think is good for you as a choice.

Eureka_07

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Quote from: seoski

Hi guys.

What is best/safest/easiest wallet to use for crypto gambling?

Currently I am using Binance wallet, but I heard that they can lock account and ask about these transactions.

I've been using Mycelium wallet, until now, everything is going really well. There are some wallets that deposits and withdrawals from/to casino are against to their TOS. So you might want to read them, or you will got the chance of your balance being frozen, that's inconvenient.
I am not sure if binance are blocking accounts that are related to gambling transactions. Ask their support or try to read their terms about it.

Vaskiy

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Gambling sites have inbuilt wallet and vault. It helps with the unwanted spending on different bets in terms of transaction fee. There is a talk that gambling sites will cheat the users which is true. But, the same won't be done by the reputed platforms. Whether it is an exchange or a gambling site, it is good to enable all the security features available, in specific 2FA. This will add more security to the Holdings.

Lanatsa

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Quote from: crzy on August 14, 2021, 05:56:21 PM

I’m using an exchange wallet without experiencing any problem here, maybe its because the amount of money is just small. Well, to be more safe I have to think for other options as well and many here suggested Electrum, I’m not sure though if it will work. How about if you’re going to withdraw and deposit thru LTC? Any good wallet to use for?

Litecoin wallet you've been seeking?

Aside from exchangers then you can make use of HW like Trezor and Ledger nano.

For Desktop wallets then make use of Exodus,Atomic,Jaxx,Litecoin core and Electrum LTC. It doesn't matter which one and find out what suits out your needs.

crzy

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I’m using an exchange wallet without experiencing any problem here, maybe its because the amount of money is just small. Well, to be more safe I have to think for other options as well and many here suggested Electrum, I’m not sure though if it will work. How about if you’re going to withdraw and deposit thru LTC? Any good wallet to use for?

DoublerHunter

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Quote from: Tumanggor on August 13, 2021, 05:15:08 AM

for bitcoin wallet only you can use bluewallet and electrum
while for multi coins you can use exodus, safepal and atomic

all the wallets that I wrote above are highly recommended to withdraw or deposit to your favorite crypto gambling site
don't use an exchange wallet because worried that your account could be locked

I’ll go for Electrum with this one and I’m using this as well since I can’t use an exchange wallet for that reason as well, they can really freeze your account especially if there’s big money that comes from gambling to your exchange wallet. I’m using trust wallet for the altcoins though i rarely use it since I always gamble with Bitcoin.

^ Be careful of using Electrum and directly send to your custodial wallet, because it could be detected by the custodial wallet service that the fund came from the gambling company which is most of the custodial wallets they are freezing the fund if they found out that it came from gambling. I used sometimes BTC mixers for this if I will not convert my BTC to altcoins. But it does, that is fine, from BTC to XRP or USDT will be fine, your BTC transaction that comes from a gambling site will not be traceable by the custodian wallet and exchange into fiat.

just_Alice

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Quote from: harizen on August 13, 2021, 01:04:15 AM

Quote from: michellee on August 12, 2021, 05:16:08 AM

Maybe the exchanges still allow us to send or deposit our funds through gambling sites to that exchanges but the exchanges can change their policy in the future and mostly, we are not aware of that.

I think when depositing to a gambling site, there will be no problem. But when withdrawing or receiving from gambling sites, that might trigger the bell.

As far as OP's question is concerned, he can still use Binance without worries of the account being locked due to gambling as there are no rules about it. If there's a change of terms and policy, Binance always updating their users but I doubt they will more concerned about money coming from a gambling site unless they detected an alarming transaction.

Yeah, they don't have such rules, for now. But why store all your money on the exchange at all? Why create yourselves a problem, and worry that any coming day they can change the rules, when there are much safer ways, such as hardware wallets? Not only from the point that it doesn't restrict depositing/withdrawal from gambling sites, but smaller risk of being hacked, tracked, etc. The safer - the better.

Tumanggor

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for bitcoin wallet only you can use bluewallet and electrum
while for multi coins you can use exodus, safepal and atomic

all the wallets that I wrote above are highly recommended to withdraw or deposit to your favorite crypto gambling site
don't use an exchange wallet because worried that your account could be locked

michellee

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Quote from: harizen on August 13, 2021, 01:04:15 AM

Quote from: michellee on August 12, 2021, 05:16:08 AM

Maybe the exchanges still allow us to send or deposit our funds through gambling sites to that exchanges but the exchanges can change their policy in the future and mostly, we are not aware of that.

I think when depositing to a gambling site, there will be no problem. But when withdrawing or receiving from gambling sites, that might trigger the bell.

As far as OP's question is concerned, he can still use Binance without worries of the account being locked due to gambling as there are no rules about it. If there's a change of terms and policy, Binance always updating their users but I doubt they will more concerned about money coming from a gambling site unless they detected an alarming transaction.

Maybe to prevent something worse that might happen, he can try to use another wallet than Binance wallet so that it will not be related to any exchanges, and he can send it to Binance wallet if he wants to sell the bitcoin. Or he can use a bitcoin mixer before sending it to his Binance as that can be another solution from his concern.

Withdrawing from gambling sites will not have a problem unless he wants to withdraw a big amount. If so, it can make the alarm will sound. As long as he does not break any policy from the gambling site, he will be okay.

Peanutswar

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Some people are using exchanges such as binance for their deposits and withdrawals because they don't have any kind of wallet which is just okay if those exchanges are supported by your fiat currency or withdrawal and deposit. As far as I know base on my experience that wallet good for bitcoin is the Electrum wallet but if you want to use other coins you can try the Exodus and trust wallet but try to figure out the transaction fees first they have different values of fees.

Zilon

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A non-custodial wallet will do just fine but haven't heard of Binance suspending account due to gambling activities. But if you feel insecure using exchanges then you go for a non-custodial wallet instead then save your self the stress of cross-checking your custodial wallet at regular interval due to fear of it been suspended. Take full charge of your coin and how you move them across gambling sites.

hello_good_sir

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Agree what everyone else said.

Do NOT go with a custodial wallet. That would be incredibly foolish as they reserve all rights to suspend your account if they see fit - and I'm sure with thousands of dollars on the line they would be very welcoming of any opportunity to hold user funds.

Especially avoid sites like Coinbase which are a) publicly listed, so heavily scrutinised and b) have a historical record of suspending user accounts who dabble in gambling.

harizen

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Quote from: michellee on August 12, 2021, 05:16:08 AM

Maybe the exchanges still allow us to send or deposit our funds through gambling sites to that exchanges but the exchanges can change their policy in the future and mostly, we are not aware of that.

I think when depositing to a gambling site, there will be no problem. But when withdrawing or receiving from gambling sites, that might trigger the bell.

As far as OP's question is concerned, he can still use Binance without worries of the account being locked due to gambling as there are no rules about it. If there's a change of terms and policy, Binance always updating their users but I doubt they will more concerned about money coming from a gambling site unless they detected an alarming transaction.

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Quote from: Bitinity on August 12, 2021, 04:55:14 AM

I dont really get what you mean with the bold part of your statement. Do you mean to say transferring money between gambling sites like I withdraw from duelbits and deposit it directly to rollbit? If you say so, I do not think there is a site that restrict such activity because I do not see any reasons why gambling sites restricts their player to deposit from other gambling sites.

I guess it's possible for some casinos to link the hot wallets whenever they withdraw from site to the other but from my experience sending funds directly shouldn't be an issue though it's better to use non custodial for miner fee reasons.

Quote from: agustina2 on August 12, 2021, 04:50:49 AM

Can anyone tell me how will centralized know that the funds came from a gambling site? I'm only seeing threads before that someone claimed their account got frozen because funds came from a gambling site but no proof that the site itself tells their users that's the exact reason. Coinbase for example but not seeing cases like that in Binance. I think there is another reason why their account got frozen and not because the money was coming from a gambling site.

Because there's a way to track and label the casino's hot wallet for example if you check wallet explorer you'd see publicly labeled addresses between crypto casinos and other services. What more if there's a paid service that offers more links between casinos.

michellee

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Most of us agree to use separate wallets such as Electrum, Trust, Exodus, Guarda, Coinomi or Jaxx for multi coins because we control the wallet and we do not have to be afraid of prohibition that we can get in the future if we use a wallet from the exchanges or other web-based wallet.

Maybe the exchanges still allow us to send or deposit our funds through gambling sites to that exchanges but the exchanges can change their policy in the future and mostly, we are not aware of that.

YOSHIE

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Quote from: seoski on July 28, 2021, 02:09:41 AM

So I will choose Electrum non-custodial wallet for gambling purposes.

it's a constant choice if you are a serious gambler, Non-custodial Wallet, for now one of the most preferred options used by many gambling addicts, Besides being safe for yourself. Non-custodial wallets, only you can access your private keys. You also have freedom about your funds. That's why I advise you because you are using a non-custodial wallet, so the security of your own private key is responsible for this, so be careful and always place it in the safest position and easy to use, don't lose it, it can be fatal.

Bitinity

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Quote from: Johnyz on August 09, 2021, 06:19:58 PM

Yes some gambling site restrict you from depositing cryptos that comes from gambling site, you can use electrum for Bitcoin wallet and trust wallet or metamask for altcoins, thru this wallet you don’t need to fill up any KYC, you just have to protect your seed phrase and keep it on a safer place, don’t share it to anyone.

I dont really get what you mean with the bold part of your statement. Do you mean to say transferring money between gambling sites like I withdraw from duelbits and deposit it directly to rollbit? If you say so, I do not think there is a site that restrict such activity because I do not see any reasons why gambling sites restricts their player to deposit from other gambling sites.

agustina2

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Can anyone tell me how will centralized know that the funds came from a gambling site? I'm only seeing threads before that someone claimed their account got frozen because funds came from a gambling site but no proof that the site itself tells their users that's the exact reason. Coinbase for example but not seeing cases like that in Binance. I think there is another reason why their account got frozen and not because the money was coming from a gambling site.

Furthermore, if OP is really worried, then an extra step of using a non-custodial wallet is necessary.

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