lets say I had some bets with BTC and then chose Euro as my account currency. now I want to withdraw some money, will You send it in fiat? and if yes, how? or will I need to convert back to BTC before withdrawal?
thanks
A customer selects currency of his/her betting account only once during the registration. It is not allowed to change currency after the registration. Any deposit or withdrawal is carried out with the use of Bitcoins only.
- If a player chooses the currency other than BTC, BTC deposits are converted to fiat money at the Bitstamp Bid rate at the time of deposit.
- When a player withdraws, fiat money are converted to BTC also at the Bitstamp Bid rate at the time of withdrawal.
So if I deposit 1 Bitcoin and the Bitstamp price is $500 then later witdraw $500 when the Bitstamp price is $1000 I only get 0.5 Bitcoin paid out and you keep 0.5 Bitcoin?
- Firstly, it is a player’s free choice to select any currency: mBTC, EUR, SEK, GBP, USD, RUR, CAD.
- Secondly, the situation can be completely opposite when rate is falling, e.g. from $1000 to $500.
- Thirdly, if the situation described when rate is rising takes place, the difference resulted from the currency fluctuation is not company’s profit, because relevant amount at the time of deposit is automatically converted to USD at the exchange and at the time of withdrawal the amount at the exchange also is automatically converted to BTC. Many players prefer this option, thus avoiding currency risk.
