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I need a reputable bitcoin wallet that will do business with offshore books!!!

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Posted: #1
I am a newbie to bitcoin....  I just opened an account with COINBASE which is based in USA.  After doing that, I made a withdrawal request from 5dimes to my wallet at COINBASE.

After reading a bit further, I discovered that COINBASE does not allow transactions with gambling sites, so I suppose my $25 withdrawal is doomed.... I don't know yet.

So I'm guessing I now need to find a reputable bitcoin wallet that is outside of the US jurisdiction?  Any suggestions?


 
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Posted: #2
You'll need to open several bitcoin wallets that are not attached to a bank account like Blockchain. When you withdrawal from a sportsbook, you send it to the Blockchain wallet and then from there, send it to Coinbase. This will make it untraceable that it came from a sportsbook. If you withdrawal from sportsbook to Coinbase, you will get banned soon. 

Wallets that let you attach bank accounts like Coinbase and Circle have to comply with banking regulations so this is why they are difficult on gambling. Wallets that are strictly for storage and not transferring to a bank account like Blockchain do not have to worry about this problem thus they dont have any strict regulations. Blockchain wallets are free to use and you can open as many accounts as you want. They take less than 2 minutes to open each time so why not. 
 
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Posted: #3
Also, even if Coinbase bans you, your money is not gone. They will let you transfer it out to another wallet before they close your account. 
 
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Posted: #4
Thank you for a quick response.... the $25 withdrawal I requested from 5dimes was still in pending status so I was able to cancel it now.

I guess I now need to set up a blockchain wallet.
 
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Posted: #5
I have another question 

I have noticed that when transferring USD from paypal to my bank account that it only takes one business day.  So can I send bitcoin from my blockchain wallet directly to paypal?  Then it can be in my bank account much quicker.

No need for a USA based wallet like Coinbase?
 
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Posted: #6
Paypal will not do any business with any bitcoin wallets. Paypal hates bitcoin because it eats into their digital money transfer business. 
 
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Quote Originally Posted by CountCrisco:

Paypal will not do any business with any bitcoin wallets. Paypal hates bitcoin because it eats into their digital money transfer business. 

Hey Count I bought BC from Coinbase and transferred it to Blockchain and Im going to transfer to Nitrogen and when Im done itll go back to Blockchain and into Coinbase. 

Is this the right way to go about it? Or should I find another middle wallet?
 
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Quote Originally Posted by nygjmap:


Hey Count I bought BC from Coinbase and transferred it to Blockchain and Im going to transfer to Nitrogen and when Im done itll go back to Blockchain and into Coinbase. 

Is this the right way to go about it? Or should I find another middle wallet?

That is what I inferred from his post
 
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Posted: #9
Quote Originally Posted by CountCrisco:

You'll need to open several bitcoin wallets that are not attached to a bank account like Blockchain. When you withdrawal from a sportsbook, you send it to the Blockchain wallet and then from there, send it to Coinbase. This will make it untraceable that it came from a sportsbook. If you withdrawal from sportsbook to Coinbase, you will get banned soon. 

Wallets that let you attach bank accounts like Coinbase and Circle have to comply with banking regulations so this is why they are difficult on gambling. Wallets that are strictly for storage and not transferring to a bank account like Blockchain do not have to worry about this problem thus they dont have any strict regulations. Blockchain wallets are free to use and you can open as many accounts as you want. They take less than 2 minutes to open each time so why not. 

Good info.  Going to give Bitcoin a shot.

 

 
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Posted: #10
Quote Originally Posted by nygjmap:


Hey Count I bought BC from Coinbase and transferred it to Blockchain and Im going to transfer to Nitrogen and when Im done itll go back to Blockchain and into Coinbase. 

Is this the right way to go about it? Or should I find another middle wallet?

That's correct. 

Anytime you receive or send anything to a sportsbook, send it to the blockchain first and then to the book. The reason why Coinbase blocks you is the wallet address used by the book has a transaction history that can be viewed on the ledger by anyone.

 Now, since all bitcoin transactions are anonymous, it will not show your name however Coinbase uses sophisticated alogrithms that can tie the address to other transactions which may be for gambling. Once you send it to the blockchain, this clears that "trail".  
 
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Posted: #11
First time using BitCoin for a payout.  5D processed my payout within a few hours and hit my BitStamp Account.  I sold the Bitcoins to create a USD Balance and requested a withdraw to my bank account. It was approved overnight.

My question is...What should I expect as a time frame for it to hit my account? 
 
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Posted: #12
Quote Originally Posted by KBrick84:

First time using BitCoin for a payout.  5D processed my payout within a few hours and hit my BitStamp Account.  I sold the Bitcoins to create a USD Balance and requested a withdraw to my bank account. It was approved overnight.

My question is...What should I expect as a time frame for it to hit my account? 

1-2 business days from coinbase to my checking
 
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Quote Originally Posted by holdmybeer:


1-2 business days from coinbase to my checking


Thanks for the info, I'm using BitStamp.  This I believe is Day 3, but Ive been told Wire Transfers are generally done in the afternoon.  So the funds could appear at any time.  Hoping this doesn't leak into the 4-5 business day time frame.  Otherwise I may have to look into Coinbase for the next.
 
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Took till the 4th business day for anyone interested. (Having all weekend probably helped)
 
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Posted: #15
Quote Originally Posted by CountCrisco:


That's correct. 

Anytime you receive or send anything to a sportsbook, send it to the blockchain first and then to the book. The reason why Coinbase blocks you is the wallet address used by the book has a transaction history that can be viewed on the ledger by anyone.

 Now, since all bitcoin transactions are anonymous, it will not show your name however Coinbase uses sophisticated alogrithms that can tie the address to other transactions which may be for gambling. Once you send it to the blockchain, this clears that "trail".  

Just stumbled upon this thread. Thanks for sharing your bitcoin knowledge. 
 
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Posted: #16
Made several withdrawals using Bitcoin. Best way to go. No doubt about it. 
 
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Posted: #17
try virwox to send to paypal
 
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Posted: #18
Quote Originally Posted by SportsFan9698:

Thank you for a quick response.... the $25 withdrawal I requested from 5dimes was still in pending status so I was able to cancel it now.

I guess I now need to set up a blockchain wallet.
Did you get scared thinking that Tony confiscated your payout?


 
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Posted: #19
what about Kraken? do we need multiply bit coins if we use this bitcoin?
 
 
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Posted: #20
Quote Originally Posted by CountCrisco:

You'll need to open several bitcoin wallets that are not attached to a bank account like Blockchain. When you withdrawal from a sportsbook, you send it to the Blockchain wallet and then from there, send it to Coinbase. This will make it untraceable that it came from a sportsbook. If you withdrawal from sportsbook to Coinbase, you will get banned soon. 

Wallets that let you attach bank accounts like Coinbase and Circle have to comply with banking regulations so this is why they are difficult on gambling. Wallets that are strictly for storage and not transferring to a bank account like Blockchain do not have to worry about this problem thus they dont have any strict regulations. Blockchain wallets are free to use and you can open as many accounts as you want. They take less than 2 minutes to open each time so why not. 


This post here WAS EXTREMELY Helpful

I do see it is dated somewhat......I just opened the BLOCKCHAIN wallet and as well verified the Coinbase with bank and PyPl...so I think I am all set

My book is 5D and I have a strong need for added ways to gain payouts......

Is there anything additional since you posted this that might useful info?

Thank you  NEWPORT
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