what bitcoin wallets allow transfer to personal bank accounts in USD - page 2.

grindix

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Quote from: adzino on July 12, 2019, 01:17:41 PM

Quote from: grindix on July 12, 2019, 05:57:37 AM

I am interested in transferring money out of a poker site to a bitcoin wallet and subsequently to my bank account (US or foreign). What wallets are best for this purpose?
I already inquired with spectrocoin and they mentioned they don't have the option to transfer to a US bank account.
what fees should i expect to incur for such a transfer?

You can't transfer your coins from your wallet to your bank account (in fiat). What you can do is use a third party site (such as an exchange) and sell your coins. Withdraw your fiat money to your bank account. You can open up a thread over here and sell if people are willing to buy your bitcoins.
As far as I know, coinbase blocks account that are associated with gambling (not sure, I might be wrong). You can transfer your bitcoin to another wallet. And then transfer your coins from that wallet to your coinbase account.

I have seen a post now on a poker forum that Coinbase might track transfers upwards searching for gambling origins.
I am now considering gemini for my purpose. Does it have any restrictions on transfers incoming from poker sites?
does anybody know if i will be able to transfer my USD from it to a lebanese bank account?

adzino

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Quote from: grindix on July 12, 2019, 05:57:37 AM

I am interested in transferring money out of a poker site to a bitcoin wallet and subsequently to my bank account (US or foreign). What wallets are best for this purpose?
I already inquired with spectrocoin and they mentioned they don't have the option to transfer to a US bank account.
what fees should i expect to incur for such a transfer?

You can't transfer your coins from your wallet to your bank account (in fiat). What you can do is use a third party site (such as an exchange) and sell your coins. Withdraw your fiat money to your bank account. You can open up a thread over here and sell if people are willing to buy your bitcoins.
As far as I know, coinbase blocks account that are associated with gambling (not sure, I might be wrong). You can transfer your bitcoin to another wallet. And then transfer your coins from that wallet to your coinbase account.

grindix

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ok so what about gemini? the ACR (poker site) rep recommended it as having lesser fees than coinbase (which he mentioned to have notoriously very high fees).
Is gemini safer in terms of transfers coming from gambling websites? is it considered an exchange too?

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Quote from: grindix on July 12, 2019, 12:06:42 PM

Quote from: LeGaulois on July 12, 2019, 11:13:59 AM

Quote from: DeathAngel on July 12, 2019, 06:17:04 AM

Possibly the most trusted & well known way to accomplish what you’re asking -

https://www.coinbase.com/

Horrible advice. OP will get his account locked and who knows what will be his nightmare for maybe get back his coins. Everyone knows Coinbase doesn't allow everything related to gambling.

OP you should use an exchange (not a wallet) like Bitstamp, Kraken, you will get the cheapest fees compared to Spectrocoin/Coinbase sites.

I thought coinbase was an exchange too. Isnt that the case? and would bitstamp and kraken allow transactions/transfers initiated from a gambling site? what about gemini?

Somebody suggested doing ACR-> electrum -> coinbase-> bank account. seems like an effective way to avoid transffers coming directly from a gambling site to coinbase.

Coinbase is more a wallet than an exchange, at least it's how we consider it. If we talk about Coinbase Pro then yes it's an exchange.
And yes, at least I have never seen someone with a problem with Kraken/Bitstamp, nor I have seen written in the TOS they don't accept deposits coming from gambling (while Coinbase did)

Quote

ACR-> electrum -> coinbase-> bank account.

Sure but it takes time and waste of bit of money

grindix

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Quote from: LeGaulois on July 12, 2019, 11:13:59 AM

Quote from: DeathAngel on July 12, 2019, 06:17:04 AM

Possibly the most trusted & well known way to accomplish what you’re asking -

https://www.coinbase.com/

Horrible advice. OP will get his account locked and who knows what will be his nightmare for maybe get back his coins. Everyone knows Coinbase doesn't allow everything related to gambling.

OP you should use an exchange (not a wallet) like Bitstamp, Kraken, you will get the cheapest fees compared to Spectrocoin/Coinbase sites.

I thought coinbase was an exchange too. Isnt that the case? and would bitstamp and kraken allow transactions/transfers initiated from a gambling site? what about gemini?

Somebody suggested doing ACR-> electrum -> coinbase-> bank account. seems like an effective way to avoid transffers coming directly from a gambling site to coinbase.

grindix

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Quote from: odolvlobo on July 12, 2019, 11:08:16 AM

Quote from: grindix on July 12, 2019, 07:15:38 AM

so none of the wallets will allow you to exchange from BTC to USD?
why would an exchange lock my account for being involved with gambling activities and a personal wallet website not?

in terms of comparison between gemini and coinbase is the former considerably less expensive in terms of fees?

* The differences in cost depend more on the convenience than the company.

Can you please elaborate on this? from what i have seen so far in terms of fee guidelines on both sites they are the same:
https://support.coinbase.com/customer/en/portal/articles/2109597
https://gemini.com/web-fee-schedule/#web-fee-schedule

how can there be a difference in convenience that will lead to different fees?

LeGaulois

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Quote from: DeathAngel on July 12, 2019, 06:17:04 AM

Possibly the most trusted & well known way to accomplish what you’re asking -

https://www.coinbase.com/

Horrible advice. OP will get his account locked and who knows what will be his nightmare for maybe get back his coins. Everyone knows Coinbase doesn't allow everything related to gambling.

OP you should use an exchange (not a wallet) like Bitstamp, Kraken, you will get the cheapest fees compared to Spectrocoin/Coinbase sites.

odolvlobo

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Quote from: grindix on July 12, 2019, 07:15:38 AM

so none of the wallets will allow you to exchange from BTC to USD?
why would an exchange lock my account for being involved with gambling activities and a personal wallet website not?

in terms of comparison between gemini and coinbase is the former considerably less expensive in terms of fees?

* Many wallets partner with companies that buy/sell BTC.

* Exchanges don't want to get into trouble with U.S. laws, and online gambling is illegal in the U.S.

* The differences in cost depend more on the convenience than the company.

grindix

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Quote from: OmegaStarScream on July 12, 2019, 06:59:31 AM

What you're looking for is an exchange, and not a wallet.

I'm not into gambling so I can't tell you for sure but I've seen people getting their accounts locked in different exchanges for being involved in gambling activities.

If you want to be safe from that, maybe you should send the funds to your personal wallet first (Electrum for example) then from there, send to Coinbase/Gemini (both reputable).

so none of the wallets will allow you to exchange from BTC to USD?
why would an exchange lock my account for being involved with gambling activities and a personal wallet website not?

in terms of comparison between gemini and coinbase is the former considerably less expensive in terms of fees?

xWolfx

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Here you have multiple exchanges to choose from:

At the end it comes up to personal preference, location and payment methods you have available. This is a pretty nice comparison chart showing all pros and cons of each.

https://99bitcoins.com/bitcoin-exchanges/

OmegaStarScream

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What you're looking for is an exchange, and not a wallet.

I'm not into gambling so I can't tell you for sure but I've seen people getting their accounts locked in different exchanges for being involved in gambling activities.

If you want to be safe from that, maybe you should send the funds to your personal wallet first (Electrum for example) then from there, send to Coinbase/Gemini (both reputable).

grindix

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Apparently coinbase has high fees though according to an ACR rep. He suggested gemini.com. will it help achieve the same? is it considerably lower fees?

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Possibly the most trusted & well known way to accomplish what you’re asking -

https://www.coinbase.com/

grindix

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I am interested in transferring money out of a poker site to a bitcoin wallet and subsequently to my bank account (US or foreign). What wallets are best for this purpose?
I already inquired with spectrocoin and they mentioned they don't have the option to transfer to a US bank account.
what fees should i expect to incur for such a transfer?

Topic: what bitcoin wallets allow transfer to personal bank accounts in USD - page 2. (Read 457 times)