Take your doubts about Bitcoin and cryptocurrencies here

[Canwai]

You simply use a virtual good as a medium of exchange

I don’t use and never used cryptocurrencies because I don’t understand the technology of money coming from nowhere !!!

 

[Canwai]

Yes, Bitcoin is currently good for anyone who transfers large amounts.

Cryptocurrencies are safe but I dont use bitcoin for transactions because it is too much expensive to pay that expensive and slow transactions better I use USDT on network TRC-20 for transfer money,or some other kind of crypto which is accepted on poker and it is faster and cheaper.

 

[Canwai]

I think the only way is for you to send the money to your bank account regardless of how you are going to withdraw it from the poker platform, and then you deposit it in an exchange and buy your Bitcoins or other cryptocurrency you want. There is no other way to do this

i would like to start withdrawing my winnings and investing in crypto... i play mostly on pokerstars and 888. i don't really want to add another site to be able to use crypto. seems like lots of fees, crazy min withdrawal amounts, etc etc.... so i'm wondering how i can do that with these sites?

i did look and see that skrill is one way to do it, but then i see lots of negative stuff about skrill being a scam... i thought about paypal, but in canada they don't offer crypto... plus, PS has a policy where your withdrawals are applied to your earliest deposit methods first.... so, even if i deposit with skrill i'll have to withdraw to my bank account until i've matched my deposit amounts.... so, to me this doesn't make sense.... i might as well withdraw to my bank account and use a crypto app to but btc...

anyways, does anyone in canada play on these sites and have experience using btc? if so, how do you do it?

thansk so much for starting this thread... exactly what i was looking for!!

thanks

 

[Canwai]

This is the withdrawal policy. To invest in cryptocurrencies you will have to withdraw by the available methods and then deposit in an exchange to invest in crypto.

here's an example on withdrawal policy from 888, which is pretty much the same as PS....


When you request a withdrawal, if possible, your withdrawal will be paid automatically to the payment method(s) for which you have established a positive Member Transaction Balance.

• On Monday you deposit 50 (in your currency) by Visa credit card;
• On Tuesday you deposit 50 (in your currency) by NETELLER;
• On Wednesday you deposit another 50 (in your currency) by Visa credit card;
• On Thursday you deposit 50 (in your currency) by Skrill;
• On Friday you Deposit 50 (in your currency) by PayPal;
• Your Member Transaction Balance now equals 250 (in your currency):

a.100 on Visa credit card;
b.50 on Skrill;
c.50 on NETELLER;
d.50 on PayPal.


On Sunday you request a 450 (in your currency) withdrawal.
The first 250 (in your currency) of your withdrawal (up to your Member' Transaction Balance) will be automatically paid to you in a manner such as follows:

• 100 (in your currency) will be paid to your Visa Credit Card Account(s)
• 50 (in your currency) will be paid to your Skrill Account;
• 50 (in your currency) will be paid to your NETELLER Account;
• 50 (in your currency) will be paid to your PayPal Account;
• Your Member Transaction Balance now equals 0.

Your 200 (in your currency) "Remaining Withdrawal Balance"*** will be paid to you according to your chosen payment method(s):

• Visa credit/debit card(s) (in accordance with the withdrawal limit permitted by the Visa credit/debit card issuer), or;
• NETELLER (if you have deposited to your 888poker account by this payment method in the past), or;
• Skrill (if you have deposited to your 888poker account by this payment method in the past), or;
• PayPal (if you have Deposited to your 888poker account by this payment method in the past), or;
• Wire Transfer (if you did not use cards as mentioned in section 1 and 2 above or MasterCard credit cards that were issued in the UK and Europe), or;
• UK credit cards via BACS (if you have deposited to your 888poker account by Visa and/or MasterCard credit cards that were issued in the UK only).

 

[coolDadJimbo]

yes, thanks.... that's what i eventually figured out... i'll just withdraw and send to binance if i decide that's what i want to do

thanks fo all your info

 

[MishkaZL]

I love bitcoin.
In my opinion, this is the best and fastest option nowadays. There may be some difficulties for beginners, but in order to get acquainted with this issue objectively, you only need to pay a little time and attention.

 

[Newzooozooo]

I currently transfer funds directly between my bank account and a regulated poker site. I trust my bank and I trust the poker site. It's "very fast, convenient and safe" with no fees. I don't think anyone would suggest changing to crypto in this scenario.

I'm assuming you use crypto to protect yourself from unregulated poker sites that you don't trust? Cryprto seems to me to also have a big downside to folks who are not active traders and hence stand to lose (possibly big) due to unanticipated fluctuations in the crypto markets.

Hi.
You're right, of course there is always a risk, but I also think that poker players understand this and are willing to take risks. However, you can always easily exchange your cryptocurrency for example for dollars or euros, thus minimizing your risks.
Good luck.

 

[Canwai]

Okay, remember that the market is very risky. Good luck with your investments.

yes, thanks.... that's what i eventually figured out... i'll just withdraw and send to binance if i decide that's what i want to do

thanks fo all your info

 

[COMIRRR]

We still don't have a financial education in crypto, but I think that will be the future. However, for someone who doesn't have a lot of funds and can't afford bitcoin, what would be the most advantageous currency for him to use? In what to trade a player who has for example in the player account 1500 - 2500 $ ?? Now, a question but on another subject (sorry), I submitted on PS with the visa from the bank that I recently gave up, if I want to make a withdrawal next week can I make it to the account from the new bank? Thank you!

 

[Canwai]

It is very difficult to talk about cryptocurrencies when you do not have an understanding of what they really mean, and this is something that cannot be explained here, that is, each one will have to reason and inform themselves to understand their real benefit.
As for the withdrawal methods on PS, there are rules as with all sites where you withdraw through the methods you used to deposit. However, pokerstars is a company that allows you to contact support so that you can get the help you need in this matter.

We still don't have a financial education in crypto, but I think that will be the future. However, for someone who doesn't have a lot of funds and can't afford bitcoin, what would be the most advantageous currency for him to use? In what to trade a player who has for example in the player account 1500 - 2500 $ ?? Now, a question but on another subject (sorry), I submitted on PS with the visa from the bank that I recently gave up, if I want to make a withdrawal next week can I make it to the account from the new bank? Thank you!

 

[Skot_Gy]

I think most people who doesn't use crypto, is wary because on the one hand, this technology is hard to understand, and because of the volatility of this market.
In time, i am sure will get more and more ground... but not just yet

 

[Canwai]

It's an encrypted technology with a focus on privacy and decentralization, so it's hard to understand 😉

I think most people who doesn't use crypto, is wary because on the one hand, this technology is hard to understand, and because of the volatility of this market.
In time, i am sure will get more and more ground... but not just yet

 

[Canwai]

Getting to the point where I want to get to, for you to understand the benefit of cryptocurrencies you have to understand what Defi (decentralized finance) is.

 

[bilva1984]

hi

thanks but they already scammed me when I bought bitcoin so what happened

 

[WellAA]

You may find that those of us who have been playing for quite awhile are somewhat skeptical about "virtual" or 3rd party "bankers" like ewalletexpress.
Back a few years ago, these sites would just disappear with your money. You could deposit onto poker sites with a credit/debit card, but the credit card companies wouldn't allow you to withdraw to it.
I have used bitcoin to withdraw, but I am not fully educated about the ins and outs.
For example, can I withdraw from one site and put it directly into another.
Can I withdraw directly to say Coinbase Pro and then to my bank.
Do I have to use a wallet like Blockchain then deposit to Coinbase Pro to avoid violating the Terms of use

When You transfer to another system or site, you need to check how much fee you are paying. and for that you should use USDT on network TRC-20, maybe Litecoin or nano means lowest fees around.
See you at the beautiful FT!

 

[Canwai]

Who deceived you? Where did you buy?

thanks but they already scammed me when I bought bitcoin so what happened

 

[willjosp]

Maybe I'm wrong but I don't know much about cryptocurrency but a very weird way to invest money or lose money, personally, I don't believe in cryptocurrency or Herbalife or anything that gets out of pyramid schemes or pyramid schemes where a lot of money is lost. I think it is much safer to invest in the stock market than to invest in cryptocurrency

 

[Canwai]

Yes, of course, high risk warnings abound.

Maybe I'm wrong but I don't know much about cryptocurrency but a very weird way to invest money or lose money, personally, I don't believe in cryptocurrency or Herbalife or anything that gets out of pyramid schemes or pyramid schemes where a lot of money is lost. I think it is much safer to invest in the stock market than to invest in cryptocurrency

 

[AzazeL0707]

Take your doubts about Bitcoin and cryptocurrencies here

I have seen many community members insecure and doubtful about cryptocurrencies and transactions in poker rooms, as well as all the people in the world who are following the growth of this new technology.

I am willing here in this post to share my knowledge about cryptocurrencies and help take the insecurity out of fellows who need help in this matter. One of the sectors most favored by this technology will certainly be ours.
So please feel free, whoever you are, to ask any questions you may have regarding cryptocurrency technology and how it can help player transact with poker sites and send and receive your USD safely, quickly and fairly without abusive fees and difficulties that banks and laws impose on us. Bitcoin and cryptocurrencies are on our side.
Ask what you want.

Best regards

Lol PokerStars don’t accept bitcoins