ERBtheGREAT Posted March 5, 2020 Report Share Posted March 5, 2020 yes I know I'm late to the party, just looking to make a big deposit into a sportsbook. Is there any way to buy bitcoin and transfer it to a sportsbook without fees or am I delusional? Quote Link to comment Share on other sites More sharing options...
Ts179 Posted March 5, 2020 Report Share Posted March 5, 2020 yes you can transfer btc from your bank account into a btc wallett however since you have no cred with them yet you are looking at a 14-21 day hold until you can use the bitcoins Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted March 5, 2020 Author Report Share Posted March 5, 2020 so buy bitcoins from ???, transfer to a wallet, then transfer to sportsbook. that the way? Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted March 5, 2020 Report Share Posted March 5, 2020 You could buy BTC with no ID at designated Bitcoin ATM's for 4-18% if worse comes to worse.Can more than make up for that with bonuses from BetOnline crypto bonuses Quote Link to comment Share on other sites More sharing options...
Brock Landers Posted March 5, 2020 Report Share Posted March 5, 2020 Very little fees on cash app Quote Link to comment Share on other sites More sharing options...
Ts179 Posted March 5, 2020 Report Share Posted March 5, 2020 so buy bitcoins from ???, transfer to a wallet, then transfer to sportsbook. that the way? most newbies use coinbase you set up an account. then link a bank account to coinbase account..........however it takes weeks for the first few fund transfers to clear or like FH said you can take a wad of cash to the nearest btc-atm and have the btc instantly in your coinbase account. but id say the average fee for that is 11% also the first chunk of money from your bank to coinbase might only be $1k max. maybe $2.5k max. not sure but i dont think they will let you do $5k right off the bat Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted March 5, 2020 Author Report Share Posted March 5, 2020 Thx men. In that waiting period of bitcoin drops a lot I guess you’re losing a bunch of loot huh Quote Link to comment Share on other sites More sharing options...
Ts179 Posted March 5, 2020 Report Share Posted March 5, 2020 Thx men. In that waiting period of bitcoin drops a lot I guess you’re losing a bunch of loot huh no once you submit a "buy" using bank funds the price is locked right there. cant go up and down while you wait for your funds if i were you id make a coinbase account. find a btc atm nearby and try it out for a few hundred......as FH said you can make up the atm fee with sportsbook bonuses but for large chunks of money you definately want to go bank-coinbase (or whatever wallet you want to use) Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted March 5, 2020 Author Report Share Posted March 5, 2020 thank you very much, appreciate it Quote Link to comment Share on other sites More sharing options...
Brock Landers Posted March 5, 2020 Report Share Posted March 5, 2020 Always use an intermediate wallet to send and receive Block chain wallet is the best Quote Link to comment Share on other sites More sharing options...
Moldoveanu Posted March 5, 2020 Report Share Posted March 5, 2020 yes I know I'm late to the party, just looking to make a big deposit into a sportsbook. Is there any way to buy bitcoin and transfer it to a sportsbook without fees or am I delusional?I use coinbase I have my bank account if I deposit 1k I have to wait like a week for the 1k I.also have a debit card which is instant for 1 grand the fee is about 35$ so I get like 960-965 then get the bitcoin info from 5d and send it using coinbase Quote Link to comment Share on other sites More sharing options...
brokerstip Posted March 5, 2020 Report Share Posted March 5, 2020 Always use an intermediate wallet to send and receive Block chain wallet is the bestIf I have the cash app and want to send somewhere, are you recommending me to buy through cash app, withdraw to my own wallet and then withdraw to someone else? Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted March 5, 2020 Author Report Share Posted March 5, 2020 I use coinbase I have my bank account if I deposit 1k I have to wait like a week for the 1k I.also have a debit card which is instant for 1 grand the fee is about 35$ so I get like 960-965 then get the bitcoin info from 5d and send it using coinbaseyes I'm not in a rush, going to get coinbase and use bank account, send to wallet, then probably betonline for 5% above bitcoin market value, seems like the best bet for a first timer Quote Link to comment Share on other sites More sharing options...
Bucky Posted March 5, 2020 Report Share Posted March 5, 2020 Coinbase is so anal about transactions that look like they are being used for gambling purposes. That is the reason for the wallet step - get it to a wallet that will do that - at least one level of separation. I just do not like Coinbase at all for any kind of withdrawal back to a bank account. You put it 10k and take out 20 k they think you made a 10 k profit..They do seem to like it if you use it for what looks like it must be for online purchasing ( they collect some fees then ). Coinbase will close your account if they think you are using it for gambling. Quote Link to comment Share on other sites More sharing options...
Moldoveanu Posted March 5, 2020 Report Share Posted March 5, 2020 Coinbase is so anal about transactions that look like they are being used for gambling purposes. That is the reason for the wallet step - get it to a wallet that will do that - at least one level of separation. I just do not like Coinbase at all for any kind of withdrawal back to a bank account. You put it 10k and take out 20 k they think you made a 10 k profit..They do seem to like it if you use it for what looks like it must be for online purchasing ( they collect some fees then ). Coinbase will close your account if they think you are using it for gambling.I made hundreds of transactions still using it strong thats bs statement How would they know u using it for gambling Quote Link to comment Share on other sites More sharing options...
Bucky Posted March 5, 2020 Report Share Posted March 5, 2020 I made hundreds of transactions still using it strong thats bs statement How would they know u using it for gamblingIt has been a while now but, they sent me an email that they do not allow Coinbase to be used for gambling transactions and my account was being closed. Are you from the USA? Big thread on it at the time. Several other guys said the same thing. Maybe, I can find it - Raiders had several comments. Quote Link to comment Share on other sites More sharing options...
Bucky Posted March 6, 2020 Report Share Posted March 6, 2020 Hey Moldo - take a look at this! , 2015 | replied: Hi,Upon review of your Coinbase account, we have determined that we can no longer provide you access to Coinbase services. Please understand that Coinbase is a regulated Money Service Business under the FinCEN division of the U.S. Treasury Department and as such, we are required to review accounts in order to ensure compliance with regulations.Online gambling is illegal under US law, and even if you live outside of the US, we cannot provide services to your account for the purpose of any type of gambling activity. Please see our User Agreement (https://www.coinbase.com/legal/user_agreement#toc_11).Please note that we have not blocked access to the bitcoin balance currently in your Coinbase account; while we can no longer process transactions of this bitcoin via our banking relationship or future wallet service, you may send this bitcoin to a local wallet or another bitcoin address away from Coinbase.You can fully close/delete your Coinbase account using this link: https://www.coinbase.com/settings/cancelRespectfully,CoinbaseCompliance Team A bunch of us got letters like this! How they flagged the account I do not know. I would not touch Coinbase with a ten foot pole! Quote Link to comment Share on other sites More sharing options...
Bucky Posted March 6, 2020 Report Share Posted March 6, 2020 I thought they would dry up and blow away like Circle. Coinbase is from San Francisco and would puss out in a heartbeat if anybody every wanted information on your account. Stay away from anybody like that - try Kraken out of Canada or something from any other country than the USA. So, Moldo - still think they cannot tell where your transactions are going? I am not saying precisely but maybe they can determine the country??? Quote Link to comment Share on other sites More sharing options...
Shavencoinpurse Posted March 6, 2020 Report Share Posted March 6, 2020 Were you using a wallet as a medium to send to books? Or were you sending directly from Coinbase to books? Quote Link to comment Share on other sites More sharing options...
Ts179 Posted March 6, 2020 Report Share Posted March 6, 2020 i was trying to get erb some advice without being too confusing coinbase is a good place to start, to get used to btc Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted March 6, 2020 Report Share Posted March 6, 2020 I thought they would dry up and blow away like Circle. Coinbase is from San Francisco and would puss out in a heartbeat if anybody every wanted information on your account. Stay away from anybody like that - try Kraken out of Canada or something from any other country than the USA. So, Moldo - still think they cannot tell where your transactions are going? I am not saying precisely but maybe they can determine the country???If you're paying taxes, it doesn't matter. And Kraken sends a 1099-k the same as Coinbase does. Otherwise, they couldn't operate in the United States. Quote Link to comment Share on other sites More sharing options...
Bucky Posted March 7, 2020 Report Share Posted March 7, 2020 Were you using a wallet as a medium to send to books? Or were you sending directly from Coinbase to books?No, this was 5 years ago - just a straight pipe transaction. When, I had Circle - went to a blockchain wallet first - and seemed to go ok. Monkey makes a good point. I just use Kraken as a transfer tool. To move money from one book to another. Have never wired money to them or had them wire to me or ever received a 1099 from them. . Even then, I guess you could carry over a balance from one year to the next and transfer to somebody the next year. Technically, that year you could have have a withdrawal that looks like profit. Quote Link to comment Share on other sites More sharing options...
brokerstip Posted March 7, 2020 Report Share Posted March 7, 2020 Anyone have some BTC that they are willing to take Paypal/Venmo for? About $2-3K Quote Link to comment Share on other sites More sharing options...
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