Topic: withdrawing bitcoin - newbie - advice welcome (Read 402 times)

I see that you have posted in this thread as well! I had already responded to your question in the other thread.

I am not sure why you keep insisting that Bitcoin is more complicated than it really is. I remember my early days with Bitcoin, and I do not recall feeling as confused as you seem to be. It is not 2010 anymore, and unless you have been living under a rock, I am sure you have come into contact with at least one person who has some experience with cryptocurrencies. Bitcoin is not as complicated as people once made it out to be, and I believe that any person who has a smartphone and an Internet connection should have no problem learning at least the basics of how Bitcoin works. There are plenty of excellent resources available, both online and in print, that explain all of this in a way that is easy to understand, and if you don't like any of those then simply ask a friend who knows about Bitcoin. I am sure they will be more than happy to explain it to you, and if they don't know then you can find someone else who does. The cryptocurrency world is full of people who are more than willing to help newcomers, and it is not hard to find them.

Ignorance may be bliss, but it is not going to do you any favors when it comes to Bitcoin and cryptocurrencies. Educating yourself about new technologies and how they can potentially impact your life is crucial, whether that be financially or otherwise. And once you have learned the basics, you will be better equipped to decide if cryptocurrencies are right for you or not.

To withdraw all of your assets in the application with bitcoin, you must look at several bitcoin wallets that you can connect to the application because not all wallets will support withdrawals, so you must be careful so that your assets are not lost when making withdrawals. apart from paypal you can use electrum, coinbase which is currently very safe to use, but there are a number of things you have to learn so that mistakes don't occur in making transactions, because there are steps that you have to do and it's difficult for me to be clear and you can looking at some sites that will indeed be easy to understand.

thanks Broad.

I am posting my queries re newbie onto another thread, it was moved elsewhere., but i see your reply to this one, and thought to spread out the query save bugging the same people replying to other thread.

But thanks for the reply. I was recommended there some sites, and i looked at, Hodlehodel.

My bitcoin,only a few hundred euros, comes from a online casino ( initially messing me about, techn.difficulties withdrawing to mastercard, but good to their word ( afterr mistakes on my part ), they did withdraw to bitcoin, Electrum wallet.

So, i am in the position of wanting to turn this into proper cash, into my bank account, so i can pay my bills! ( but liking the 'fun' of seeing the up/downs of bitcoin so will hold a little back ).

So, the first thing I notice is, Hodel does not require KYC etc ( im new to all this really am, literally enjoying playing a few slots online with monies i dont really have to spare more fool me )

SO, i want to do everything by the book, i literally just want to turn this withdraw into cash, no messing about, happy to pay a few fees for the privledge, afterall this if a few quid i didnt expect to get really.

I sign up to Hodel ( doesnt seem to that straightforward to be honest ), and ....how the heck does it work? totally lost tbh ( im googling/learning/youtubing now ), all this casino might not be legit bitcoin etc...i thoughts once its in my wallet, that series of numbers adding to the value of around £300 is as legit, as good as any series of numbers.  I just want some of this coverted to cash. Simple as that.

I will continue to learn / bit like a rabbit hole though...things to avoid. I will check back to see if any replies/ an idiots guide - literally an idiots guide though.

It is very easy you know. I will advise you create an account by downloading a wallet eg trust wallet then save your keys in a safe place where only you can have access to.
You  copy your bitcoin address to your dashboard on your account withdraw your bitcoin to your wallet. After some onchain confirmation, your bitcoin is deposited in your wallet address.

If you want to convert to fiat, I will advise you register with CEX ie binance, go for p2p platform and do your transaction but it were to be me, I will hodle.

Hello there,

Although there is a newbie thread where i am hanging in the balance waiting to see if casino is ever going to payup ( into my bitcoin wallet ).

I am very curious to know..as i wait and wait..for the ineviable 'technical reasons cant withdraw to bitcoin' ( like what they did with my mastercard )

SO, situation,

I have withdrawn to Electron wallet. The withdrawal went through on the casino ( accepted ) , a few hundred euros. That was 3days back.  I naturally emailed them few times, all done/dusted our side, but can wait 5days for the provider in your region....

Waffle ( putting it midly )..delay tatics....OR...is there some truth, their reply today ( when i again questioned how long it was taking..and what is a regional provider )


"..."..A payment provider is a gateway for transactions between online services and customers. Usually, transactions do not take much time, but it may take if the payment processor requires additional confirmation of the transaction. We apologize if the delay causes inconvenience, but we appreciate your patience.   "


I am looking at my next move, when they tell me, 'sorry ..additional confirmation..issues'   

Is there any truth their reply....can i counter-act it...can i question it.....any words to the wise?  Expecting in a day or two..NOT..to receive any bitcoins to my wallet...

Im not really curious to your thoughts in the sense, i too think its all dodgy, basically they are not paying out. get over it.   BUT....they are replying to my emails...so..for now..i wait....and curious to know any truth to what they are saying.

Afterall..i just setup a electron wallet, no ID etc...a simple process...is it really that simple, they just transfer bitcoin across. Perhaps when i go to convert to cash ( FIAT? ) then i might need ID etc  ..but thats not for now...for now..just be happy to get something into this wallet.

thanks for the replies, but at the moment i am playing the waiting game. The casino has said,

"..Your withdrawal already was completed from the our side, so for now it's being processed by the payment provider of your region. Please wait for any update from your payment application..>"

and told to wait up to 5days.

Now, this payment provider rejected my previous many mastercard attempts ( mastercard not accepting apparently )

SO..i have my doubts...they are messing me about..keeping me waiting even longer ( thought bitcoin withdrawals were fast! ) ..and then to be rejected and told..why not try open up a metrobank account etc etc

Time will tell.

But...IF....i do get the coins into my Electon wallet...in total might be around 400euro..minus all the fees..and the fact i will be withdrawing in stages, like this first one im doing.  THEN, i will re-read your kind replies and see how i can 'easily' convert to cash. As that is what i want, none of this trading etc...

When it comes to cryptocurrencies or bitcoin, you've got to stick to specifics on what is your actual intent with your purpose for a withdrawal. Like,

You want to withdraw a large some and you've got the intention of not exchanging all of it for fiat at once? If yes, then a non custodial wallet would be the best option as, it would be a two way charge and that is, the transfer charge from sending the coin from casino to wallet and also, sending from wallet to exchange for for swapping to fiat.
On the other hand, should you wish for a direct sales of crypto to fiat, then deposit it directly to an exchange might be your option for a one way fee.

Supposing you already know how to process a withdrawal that is.

The first replies on this thread is more than enough to solve this problem like what d5000 stated on his reply.
Install electrum wallet in your laptop/desktop as it only needs small space, go to the official website to get the file as he posted the link also.
Once installed, get one receiving address from the receive tab. I know, most newcomers are scared that they will mess it up.
If you want to make sure you are doing it right, transfer small amount of btc first, like the min withdrawal of the site.
This was what I did when I was just starting. Test first. Once it goes thru and you can see it in your wallet, you can now transfer the rest of your money.
And then, to convert it to your fiat, one very good platform is binance p2p (but you need kyc to use this), if you are hesitant that it won't go thru, transfer small amount again.
Trade your btc with USDT, then transfer your funds to funding to trade p2p - select your fiat in their p2p list. You can directly receive it to your bank or other payment options available in your local currency.

the first thing first is what you gonna do with the bitcoin at the first place, if you are gonna withdraw the money you can withdraw it directly to P2P exchanger. If you are using it for saving most of people above already said it, Store in your own wallet or hardware wallet. If you gonna trading it or explore bunch of product better to keep it to your own wallet than transfer it to centralized exchange and make sure use exchange with proof of asset that can be found on coinmarketcap

That's a problem now in most centralized wallets, they prohibit users to link their wallets to any gambling platform.
Even in my local wallet, they eventually banned/froze wallets that linked to any gambling platform, so it is not advisable to send your crypto directly on an exchange or a wallet that comes from a gambling casino wallet, much better if you will read the terms of use before making such a decision.

Here's the list of all crypto exchanges if you want to withdraw your coin and trade it into your local currency.  P2P exchange or decentralized exchnage if you want to cover your identity or if you aren't afraid of KYC go for a centralized exchnage platform.  There's nothing safer, buy a hardware wallet that can protect your valuable asset.

Buy a hardware wallet, and you'll be safe. It is not expensive, but it ensures your safety. Receive Bitcoin from the casino and swap it for stable coins. Then, using a peer-to-peer exchange, cash out your holding. You can use Binance to exchange your cryptocurrency for fiat currency. It appears to be quite popular right now. To withdraw from a gambling site, do not use any centralized exchange or wallet. Your funds would have frozen anyway. So the safest option is to purchase a hardware wallet.

We really appreciate the legendary, senior members and other the advice I don't have much to say but we thank you all for the effort you all put to see our progress in the forum..
I want to know more on how to withdraw bitcoin from my wallet and the some one should please guide me for the trusted wallet I suppose to use

Yes, because we know that there are a lot of banks who are not Bitcoin friendly but if we know that the banks that we are using are not one of it and we already use it before for withdrawing/depositing our BTC then why not? And I think they will only question you if you withdraw your funds in a casino or a site where they think illegal from their jurisdiction but if it's only about a crypto exchange or a crypto wallet then I think it's totally fine.

Withdrawing money in a local exchanger can be an alternative if we are doubting on using a bank. This is one of the methods I use before when I was a newbie in crypto but the only downside of them is that their fees are high and then there is a delay when claiming the money.

Ok thanks Cointrader, can you just see the message i just sent ( getting ..fedup for want of a better word what between learning something new and messed about by casino ).

This PUBLIC LINK / Account number/ address...they want me to paste in for withdrawals.   Where do i find that in a Wasabi wallet..and is it normal to ask for that?

CEX P2P such as Binance, Bybit and Okex  supports multiple fiat currency and bank option base on the country that you live. You don’t need to create a Bitcoin wallet if you will just convert your Bitcoin to Fiat then send to your bank account because you can use directly the exchange wallet address to withdraw the token you have on your casino account. P2P is your best choice to convert your crypto into fiat.

There’s non custodial exchange like Bisq that you can trade your crypto into fiat but since you are a completely newbie. I suggest the CEX for an easy access on exchange. The only downside of CEX is you will need to provide KYC in able to unlock the P2P feature.

Try to search on youtube the Binance P2P tutorial.


This is because some exchange doesn’t accept funds that came from casino especially if the casino is sanctioned by the government. But this is very rare to happened and in fact I’m always withdrawing and depositing coins directly from exchange to casino and vice versa. There’s just some rare scenario before that involves this but that doesn’t mean you are not allowed to do this.

---

Use the quote button on the post that you want to reply so that you don’t need to retype or copy paste the comment of other member.

This is a good advice.

Just wanted to add for OP, never use banks on withdrawing your Bitcoin or even big fiat that you've earned via Bitcoin, they will just question it or they will instantly froze your account. Only use local exchanger, I bet there's one in your country, or if you don't have it, look for some alternative, like the P2P in Binance, maybe if it works on you.

Tip: Don't withdraw directly that bitcoin of yours from casino > any exchange (ex. Binance, Coinbase).

This comment above...confuses me. 

I thought i just generate an address using wasibi wallet and simply give that address when i click the withdraw button on the casino?

No?

HI

I have looked up what i think i need to know re Wasabi wallet.

All i want to check with anyone out there is..

 - i simplygo into 'receive'  and then give the casino the long address which comes up.   Simply copy/paste.  Thats it.

Yes?

Then down to them to 'send me the bitcoin money'  ( and it will magically appear in my wasibi wallet? )

Yes?

( IF i wanted to withdraw again any 'winnings'  i would again generate a 'new receive address'  and same process.

Simple as that.

( just one email reply said, 'dont give casino your address?  )

If someone could just clarify the above please - tearing few hairs i have out!!   ( how i then 'convert' the bitcoin etc is for another day..so long as i have it from casino is all i want right now )

Hello! I am a newbie in here (first post), but I have been into Bitcoin since 2016. Congrats for the winnings! I just want to point out that you have to give it a try and learn about Bitcoin. Obviously I don't want to advise you against your own will. But, if you decide you want to learn more about Bitcoin and what it is about, let us know! As far as your question is concerned, I believe it was answered thoroughly.

thanks once again Stalker, and i wont make a habit of it, youve answered my questions. I downloaded WASABI wallet and yes, already confused..or more..hesitant even what to call it!...but i will youtube that.

Great that once the bitcoin from casino is in my WASABI wallet....then...it may be less perhaps due to them taking a cut ( havent a clue and hoping no hidden small print )....but i can at least rest easy and know i could transfer it into my bank as becomes 'proper money' so to speak.

( ignore my mumblings about 'euro' and yen'..thats just dodgy nature of casinos and ideally, yes avoid at all costs, and intend too..just be nice to get a few quid for once out of them even if was only a few hundred. )

Thanks once more, i wont keep bugging this thread, although may mention to see how i get on.