Best wallet for Crypto Sportbooks deposits/withdrawals? - page 3.

kkaroul4

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Quote from: seoski on July 26, 2021, 07:49:42 AM

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.

Regards

That's not even a wallet of course it's not safe. It's an exchange wallet, try to download a software wallet like Bitcoin core or Electrum wallet for Bitcoin wallet and use other software for other cryptocurrency. Remember that if you don't have the private key of your wallet then that's not even your wallet at all.

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Quote from: seoski on July 26, 2021, 07:49:42 AM

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.

Regards

you didn't go into detail about your question, you didn't explain what coin you used...

So far I use trust wallet and safepal to make multi-coin transactions to my subscription gambling site. I don't have any problems and what I like the most is that we can customize the bitcoin fee.

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Quote from: Kyraishi on August 12, 2021, 03:06:52 AM

Just make sure that you're not using any centralised exchange/hosted wallet.

Fact of the matter is that even if they don't explicitly ban the withdrawal/deposit of gambling related funds into their site, they can always change that stanec and freeze your account.

You don't want to risk that imo. Just stick to the basic stuff - Electrum if you can get desktop applications, or Blockchain.com if you need a browser version.

I agree. Electrum might be the best user-friendly and free application out there to store your Bitcoins.
The problem with centralized wallets is they might freeze your funds if they see most withdrawals came from a gambling site.
Just to be on the safe side, send it to something with your ownership.
You might spend more from withdrawal fees from the gambling site then, another if you want to exchange it for cash but if it means the whole security is fine then just do the longest method.
You prevented your funds from being frozen and remained part anonymous.

Kyraishi

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Just make sure that you're not using any centralised exchange/hosted wallet.

Fact of the matter is that even if they don't explicitly ban the withdrawal/deposit of gambling related funds into their site, they can always change that stanec and freeze your account.

You don't want to risk that imo. Just stick to the basic stuff - Electrum if you can get desktop applications, or Blockchain.com if you need a browser version.

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Quote from: Hamphser on August 09, 2021, 04:59:23 PM

You can risk out but for sure it is written into their TOS but since you do already have the experience and prove it out then its safe to presume that it is still possible to do so but always mind off the risk

I checked Binance's TOS multiple times and there's nothing mentioned about restricted transactions coming from other services so it should be fine.

The only issue is that in the future they could make some changes in the TOS and include those restrictions.

Quote from: Hamphser on August 09, 2021, 04:59:23 PM

i not really really recommend non custodial specially if funds been holding is for long term too.

Why not ? non custodial is better because you have control over your wallet.

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Quote from: seoski on July 26, 2021, 07:49:42 AM

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.

Regards

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.

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Quote from: goinmerry on August 09, 2021, 04:50:45 PM

Quote from: seoski on July 26, 2021, 07:49:42 AM

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

Not a suggestion but just want to share with you that I already did lots of lots of transactions between Binance and a gambling site. Don't worry. If the transacton is not questionable, you shouldn't have a problem. Gambling sites are also a professional business.

Without valid proof that Binance locked up accounts about gambling transactions, don't believe in it.

Those who locked their accounts maybe violate other terms, not related to gambling.

You can risk out but for sure it is written into their TOS but since you do already have the experience and prove it out then its safe to presume that it is still possible to do so but always mind off the risk

because we dont know on whats up into their minds but if they do really mind off on getting users and retaining it then most likely they wouldnt really care at all on where those funds came from on the first place.

Use the wallet that would really suit out your needs or preference but i not really really recommend non custodial specially if funds been holding is for long term too.

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Quote from: seoski on July 26, 2021, 07:49:42 AM

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

Not a suggestion but just want to share with you that I already did lots of lots of transactions between Binance and a gambling site. Don't worry. If the transacton is not questionable, you shouldn't have a problem. Gambling sites are also a professional business.

Without valid proof that Binance locked up accounts about gambling transactions, don't believe in it.

Those who locked their accounts maybe violate other terms, not related to gambling.

Fortify

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Quote from: seoski on July 26, 2021, 07:49:42 AM

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.

Regards

Do you have any real evidence or has there been many complaints about Binance doing that? I would think it would be extremely bad for business and don't understand why they would restrict peoples wallets like that with all the other type of activity they allow (e.g. high leverage trading). It is possible they are gearing up for a stock market listing so are trying to scrub activities they perceive as "illicit" or vulnerable to money laundering, but any major provider would face the same theoretical obstacle. You could always try Kraken or Coinbase, but maybe it is best to control your own wallet via the Bitcoin core if you think this will be a long term activity.

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Quote from: Quidat on August 08, 2021, 03:49:53 PM

Quote from: seoski on July 26, 2021, 07:49:42 AM

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.

Regards

I would say that it is somewhat safe since its an outgoing transactions on where these platforms wont really be that keen nor minding on where those funds do go and they do only matter on the funds that do inbound into your account which if you do deposit something came from a gambling site then it would be mostly against their TOS and for most platforms would really be just the same. Asking out on what wallets are worth to make use into your gambling then it doesnt matter but i do much prefer on using non-custodial ones like Electrum for Bitcoin and Myetherwallet for Erc20 and so forth. You wouldnt know on when those platforms would
be hacked and since you dont possess the keys of certain wallet then those coins are never been yours in the first place.

The sites who has no private key and/or who has no passphrase or something like that are not safe. And also many exchange site does not allow their user to gamble. For example coinbase does not support their user to deposit/withdraw on/from any gambling sites. If they find out it happen then they disable their users account.

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Quote from: seoski on July 26, 2021, 07:49:42 AM

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.

Regards

I would say that it is somewhat safe since its an outgoing transactions on where these platforms wont really be that keen nor minding on where those funds do go and they do only matter on the funds that do inbound into your account which if you do deposit something came from a gambling site then it would be mostly against their TOS and for most platforms would really be just the same. Asking out on what wallets are worth to make use into your gambling then it doesnt matter but i do much prefer on using non-custodial ones like Electrum for Bitcoin and Myetherwallet for Erc20 and so forth. You wouldnt know on when those platforms would
be hacked and since you dont possess the keys of certain wallet then those coins are never been yours in the first place.

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Quote from: seoski on July 26, 2021, 07:49:42 AM

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.

Regards

Withdrawals from online casinos doesn't hold any special requirements therefore you should always use the wallet/s which you used to use in your everyday activities with bitcoin. My favorite wallets to use for crypto gambling are Bitcoin Core and Electrum. I prefer the desktop wallet of the latter rather than its mobile variant because any mobile wallet is the threat to my privacy. More on that is ^here TL;DR. Don't use mobile wallets for crypto gambling.

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Quote from: xenon131 on July 29, 2021, 09:09:17 AM

Quote from: seoski on July 26, 2021, 07:49:42 AM

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.

Regards

Withdrawals from online casinos doesn't hold any special requirements therefore you should always use the wallet/s which you used to use in your everyday activities with bitcoin. My favorite wallets to use for crypto gambling are Bitcoin Core and Electrum. I prefer the desktop wallet of the latter rather than its mobile variant because any mobile wallet is the threat to my privacy. More on that is ^here TL;DR. Don't use mobile wallets for crypto gambling.

Using electrum might be the best choice for those who will use it for bitcoin only but it doesn't support any other crypto. I also use electrum for bitcoin, dogechain for dogecoin, myetherwallet for ethereum and for others use exchange site.

imstillthebest

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Quote from: Cling18 on July 28, 2021, 03:29:15 AM

When it comes to exchange, I prefer Binance not just because it's famous but it's been trusted for a long time. I also find it convenient to use since its user friendly. When it comes to the wallet, I prefer using a hard wallet in storing my funds. I'm trying to get rid of online wallets because hacking could be everywhere.

i think hacking is not his concern but the blocking of his withdrawals and deposits because some wallets are strict when it comes to transfering funds to gambling sites but no doubt that binance is one of the best exchanges and we can still continue using it but we should first create another wallet preferably the wallet where we can own our keys because they dont have restrictions and we can send the funds their before sending it to binance or to a gambling site if we are depositing .

SquirrelJulietGarden

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Quote from: Cling18 on July 28, 2021, 03:29:15 AM

When it comes to exchange, I prefer Binance not just because it's famous but it's been trusted for a long time. I also find it convenient to use since its user friendly.

Like Binance or not, you should decentralize your crypto on a few exchanges if you store your capital on exchange wallets.

However, it is not the best advice to store your capital on crypto exchanges. You can not control what might happen with exchange (hack, crackdown, scam exit, etc.). You can not control your private key.

Quote

When it comes to the wallet, I prefer using a hard wallet in storing my funds.

If you don't have hardware wallet, you can use non custodial wallets: Bitcoin Core, Electrum wallet, Wasabi wallet for your Bitcoin.
https://www.lopp.net/bitcoin-information/recommended-wallets.html

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Quote from: seoski on July 28, 2021, 01:09:41 AM

It seems that I opened very nice topic which will help many other users in my opinion.

Thank you for you great response guys/girls!!

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

Again, thank you for great feedback!

That is good if you finally choose Electrum. Just remember not to share your key to others and keep it for yourself.

Quote from: harizen on July 28, 2021, 03:08:39 AM

==

Finally, Binance reduces the withdrawal limit from 2BTC to 0.06 BTC. But we still need to verify ourselves before withdraw. So before the new rule applies, we can withdraw it to the other account if we still do not want to verify ourselves.

I tried to move some balance from Binance to the other wallet just if I forget to do that before the new rules apply. We can use the basic verification on Binance to still withdraw, and no matter if that is 0.06BTC, that will be enough for people who do not want to do complete verification.

Cling18

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When it comes to exchange, I prefer Binance not just because it's famous but it's been trusted for a long time. I also find it convenient to use since its user friendly. When it comes to the wallet, I prefer using a hard wallet in storing my funds. I'm trying to get rid of online wallets because hacking could be everywhere.

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Quote from: seoski on July 26, 2021, 07:49:42 AM

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 never heard of Binance taking action against transactions between them and gambling sites. From my own experience, I do that several times already without a problem.

I doubt that was the case but mostly, accounts locks are due to some other reasons like flagged and alarm transactions, unauthorized login attempts, or something along those lines, etc. ~~Binance users are free to withdraw up to BTC2 per day without KYC~~ so I conclude that they are not that strict too on gambling transactions. However, if the amount involved is decent, just withdraw it in batches.

Using a non-custodial wallet is the recommended one in terms of "Safety" but if you are regularly funding your gambling site account, you can directly transact with Binance.

Or if you really want to make sure that everything goes without a problem then;
- Deposit fiat and purchase crypto at your preferred exchange
- Transfer to your non-custodial wallet
- Transfer to the gambling site

For withdrawals
- Gambling site > Non-Custodial Wallet > Exchange

EDIT: (for correction)
Daily withdrawal limits for Basic Account reduced from BTC2 to BTC0.06.
First saw it here: https://bitcointalk.org/index.php?topic=5351522.0;topicseen
Binance: https://www.binance.com/en/support/announcement/9df8225c061b455da5c7cc293cd08a70

Bitinity

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I'm using exodus for my recent gambling activity, I was using electrum in the past but since I'm not playing with bitcoin only then I moved to Exodus where I can store multi currencies at one place. Sometime I use local exchange when I have no crypto at all and I need to buy it from exchange, so far so good without any issues but you need to make sure that gambling activity is not something against the rules of the exchange. Otherwise you'll get a serious problem and you may lose your funds.

seoski

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It seems that I opened very nice topic which will help many other users in my opinion.

Thank you for you great response guys/girls!!

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

Again, thank you for great feedback!

Topic: Best wallet for Crypto Sportbooks deposits/withdrawals? - page 3. (Read 645 times)