Topic: How to Use a "Withdrawal Address"? (Read 199 times)

So I'm the only seeing that I didn't call freebitco.in a wallet... That's fine with me.

He meant Freebitcoin's wallets (their addresses). Every one has a wallet where they keep their coins. Exchanges, gambling websites, faucets, etc...

He didn't say Freebitcoin itself is a Bitcoin wallet. But what's your deal with it, anyways? I already explained what you wanted to know. Why keep pushing the "Freebitcoin = wallet" idea?

Also weird how you ignored this part of his post where he explicitly says Freebitcoin isn't a wallet:

Please lock the thread if we answered all of your questions (bottom-left corner of the page).

You are the first in this thread to call freebitco.in a wallet.

It seems that you don't know how actually Bitcoin works and how freebitco.in works.
Don't focus on freebitco.in it's not a wallet so don't call it a wallet you shouldn't worry about your address from freebitco.in if you see your balance there you can withdraw them to your own wallet.

Sample wallet: Electrum or mycelium the address generate from these wallets as your BTC address then you can send bitcoin to these addresses or use them as your receiving address. Like sample, you are withdrawing BTC from a website like freebitco.in use the address generated from electrum or mycelium wallet.
Once you receive bitcoin from these wallets you can spend and send or pay Bitcoin to any merchant online that accept bitcoin as payment.

Check this infographic's how Bitcoin transaction works so that you can understand what it is.

And check this video: Bitcoin explained and made simple

OK, you win So I have to withdraw to a wallet first using the address of that wallet.

Thanks.

Like I said, that address is your Freebitcoin's deposit address. It's simple there for the sake of being there as the default address. If you try to withdrawal to it, it will show that you need to setup an address you own yourself, so it doesn't matter. YOU DON'T USE THAT ADDRESS FOR ANYTHING OTHER THAN DEPOSITING TO GAMBLE.

You can't shop from that address because you do not own it. It's one of their internal addresses for users to deposit. Just like exchanges have deposit address (that you obviously don't have access to it).

I didn't set any address when I created the account. It was created for me.

And as far as changing the withdrawal address is concerned I'd always have to specify the target address as otherwise the bitcoins would end up nowhere. I agree that I could keep it the same if I withdrew to a wallet as that address doesn't change as long as I don't change the address in my wallet. However, when transferring to some other recipient I'd still have to use the address that I receive from the recipient independent of if I transfer from a wallet or from freebitco.in. At least that's how I understand the entire thing

So for now there are answers that I can directly use the freebitco.in address to transfer directly to a shop or something and others that I have to send the bitcoins to a wallet first. Or is that step with the wallet just for security reasons?

Maybe I didn't word it right. It's not clear to me how I can use the address assigned to me from freebitco.in. I understand that it's an address I can use to send bitcoins to. However, I'm not sure if I'm the "owner" of that address. I mean I know what a wallet is. Basically I'm interested in what the address represents. If it's a regular bitcoin address that is part of the chain I should be able to use that freebitco.in account similar to a wallet.

That's because it's not intended to be used as a wallet. You deposit if you want to bet, you withdrawal when your done (along with your captcha earnings). And most people don't need a new address to withdrawal from the same website (imagine having to put your long address there everytime and not remembering it/not having access to it).

I don't agree with you about inconvenience of withdrawing bitcoin from freebitco. That's really simple. You always need to change the withdraw address whether you use freebitco or any other wallet. But should withdraw bitcoin from freebitco due to security. However freebitco is an old reputable website, it's not secure to hold bitcoin there as you have not fully access to your bitcoins. Generally shouldn't rely on third parties.

You had to set this withdrawal address yourself. This address should be from your wallet. You can use Freebitco.in as a wallet and shop online and something. But every time when you will want to spend these BTC, you will have to change this address to address which is given by recipient, online shop for example. It's not very convenient, so I suggest to withdraw your BTC from Freebitco.in to your personal wallet and then spend it.

Whenever you try to enable the "auto-withdrawal" which is automatically set to your own Freebitco.in deposit address, it will show an alert:

"You need to change your withdrawal BTC address to an external wallet address from the PROFILE page before enabling auto-withdraw"

There is no loop. Use that address if you want to deposit to gamble in their "Multiply BTC" tab. Otherwise, you don't. You setup your own address and withdrawal, to then, spend your coins or sell them.

I have an account on freebitco.in and in the profile there is a withdrawal address (1Vr...MZB). In the withdraw dialogue the same address also referred to as "Your Bitcoin address". Interestingly enough that same address also appears as the default address it would withdraw to, which would make this thing an infinite loop, no?

So how do I use this address? Is this an official valid address already that I can use for shopping or something? Or do I have to withdraw it to a bitcoin wallet first?

I mean that website is a faucet so I don't know if that's just a temporary address for their internal addressing.

I don't want to sound stupid, but I'm just new that entire matter...