Gamblers, be careful with Coinbase! - page 2.

ranochigo

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Crypto Swap Exchange

Quote from: plost24 on April 02, 2016, 06:08:48 AM

we all know coinbase is bad for gambler but he have a lot of good thinks so if you want to gamble just use XAPO it will be beter for gambling.
so if you want to gamble and you are using coinbase just transfer your bitcoin to Xapo and have fun gambling.

That is an extremely bad idea. Xapo, unlike Coinbase is a shared wallet. They pool the funds into the hot wallet and sends the transaction initiated by the user from a different address. Due to this, for on-chain gambling where they send winnings to the origin address, the account would not be credited for it.

It also doesn't prevent them from changing their TOS and reject gamblers.

lite

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Quote from: Daneric on April 02, 2016, 06:57:18 AM

I normally use coinbase as my main wallet and a like gambling so much. I normally carry out about 5 transactions on average everyday and most of them are gambling-related. I think i should start looking for another wallet which offers similar services like coinbase

I think xapo would be the best alternative to coinbase, as far as i know they yet don't have any problem with gambling transactions.

DirectDice

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Daneric

full member

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I normally use coinbase as my main wallet and a like gambling so much. I normally carry out about 5 transactions on average everyday and most of them are gambling-related. I think i should start looking for another wallet which offers similar services like coinbase

iqlimasyadiqa

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Quote from: BitcoinHunt3r on April 01, 2016, 11:32:52 PM

since i know coinbase doesn't support gambling site i never use their service again because sometime when i bored and want to get some fun, i do gambling

yes Coinbase prohibits the use of it. I do not understand what Coinbase want. but there are many other sites that support gambling. I hope someday all such sites Coinbase will provide transparent services.

plost24

sr. member

Activity: 462

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we all know coinbase is bad for gambler but he have a lot of good thinks so if you want to gamble just use XAPO it will be beter for gambling.
so if you want to gamble and you are using coinbase just transfer your bitcoin to Xapo and have fun gambling.

ranochigo

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Merit: 4418

Crypto Swap Exchange

Quote from: hakanbalta577 on April 01, 2016, 09:56:33 PM

I do not know that; somebody inform me? How coinbase can find which address is a gambling site adress?

Gambling sites usually have a cold wallet and a hot wallet. When a user deposits into their assigned address, the coin is sent to either the cold or the hot wallet. Coinbase can know this by analyzing where the coins are sent to.

This can be migrated if the gambling site skips this step. Moneypot used to have this feature which they do not link the address to the cold wallet or hotwallet.

pooya87

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you should never use these third party online bitcoin wallets at all, there are a lot of easy to use bitcoin wallets that don't require you to accept any kind of stupid TermsOfServices in order to use your own money (bitcoin). just use coinbase to buy then transfer the coins to another wallet of yours like (core, electrum, or even blockchain.info)

BitcoinHunt3r

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Leading Crypto Sports Betting & Casino Platform

since i know coinbase doesn't support gambling site i never use their service again because sometime when i bored and want to get some fun, i do gambling

masnad

member

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Yeah recently a friend of mine was blocked from coinbase basically because he used the wallet for gambling

Divinespark

hero member

Activity: 938

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Is it true that Coinbase has now integrated LinkedIn profile verification as part of the KYC for US users? Read something to that effect.

hakanbalta577

sr. member

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I do not know that; somebody inform me? How coinbase can find which address is a gambling site adress?

Monnt

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Merit: 1002

Quote from: ezview on April 01, 2016, 08:57:25 PM

Who would use coinbase to gamble? send the coins to blockchain.info then spend them!

Because coinbase is faster, has a better interface, and pays your transaction fees. 0.0002 is sadly alot for some people. It's like how a dollar is alot to kids.

ezview

sr. member

Activity: 242

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Country music is where my heart is.

Who would use coinbase to gamble? send the coins to blockchain.info then spend them!

Dewi Aries

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Leading Crypto Sports Betting & Casino Platform

i'm not too much on gambling but i split my money in blockchain and coinbase blockchain to send money when i want to look some fun in gambling site and coinbase to send on altcoin exchanger because i heard coinbase didn't support gambling sites

lolgato1

sr. member

Activity: 793

Merit: 250

I guess I don't have to be worried about this I never use my coinbase to fund my gambling. I usually just use some funds on my spare wallet or some extra funds I find lying around in a different wallet. But it seems they are snooping around a bit to much now.

fullypak

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Quote from: Gogo ppp on April 01, 2016, 07:29:52 PM

Quote from: JasonXG on March 31, 2016, 11:21:44 AM

I'm always hearing bad things about coinbase, i'll never use them.
Why do people continue to use them ?

There are limited options for people living in the USA.

Why it is limited option. If you want to use coinbase to withdraw your funds than use some other online wallets to withdraw money from gambling sites and later transfer those coins to your coinbase account to withdraw. But you do this, don't try to withdraw everyday big amount because if you do so than surely they will ask for the source of funds. I use XAPO account and so for so good.

Junko

legendary

Activity: 1512

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Maybe so, but any other option is better than using a service which may lock, restrict or force you to explain the details of your transactions. For anyone that deposits/withdraws to/from bitcoin gambling sites, Coinbase should definitely be avoided like the plague.

Gogo ppp

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Activity: 1078

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Quote from: JasonXG on March 31, 2016, 11:21:44 AM

I'm always hearing bad things about coinbase, i'll never use them.
Why do people continue to use them ?

There are limited options for people living in the USA.

Gogo ppp

legendary

Activity: 1078

Merit: 1000

This info is accurate. Avoid Coinbase except for buy/sell, and even there if you have an alternative, don't use Coinbase for anything.

After you withdraw/deposit X amount of funds, they'll insist you provide full details of where you sent it and where you received from.

If you won't respond they will let you withdraw (at least so far, although that could change at anytime) but they disable the account for buy/sell.

A horrible company and a must to avoid as much as possible.

Topic: Gamblers, be careful with Coinbase! - page 2. (Read 13941 times)