Good morning! I was wondering if you guys know what is the current best cryptocurrency wallet to transfer poker winnings to a us bank account and if you have any information if the banks are suspending the accounts that do this kind of transactions. I have read a couple of information online but wanted to make sure with people that are currently using it.

Not sure if this is the right place to post this.

Thanks in advanced for your help!

I deposit via a bitcoin ATM onto my blockchain wallet. Deposit onto the site from there. I withdraw from the site to my blockchain wallet and send it to my coinbase wallet. Then deposit directly into my Chase bank account from there. I have never had any issues and withdrawn several thousand dollars this way. Coinbase is an exchange where you can sell your bitcoin. Never withraw and go directly to coinbase. I believe they will let you keep your money but will ban your account for going from a casino site. Always use blockchain as the wallet you withdraw and deposit to your site from. Full disclosure I have been absent from the poker for a few months and if there is new information about accounts being banned in that time I am not up to date on it.

Originally Posted by BnaD

I deposit via a bitcoin ATM onto my blockchain wallet. Deposit onto the site from there. I withdraw from the site to my blockchain wallet and send it to my coinbase wallet. Then deposit directly into my Chase bank account from there. I have never had any issues and withdrawn several thousand dollars this way. Coinbase is an exchange where you can sell your bitcoin. Never withraw and go directly to coinbase. I believe they will let you keep your money but will ban your account for going from a casino site. Always use blockchain as the wallet you withdraw and deposit to your site from. Full disclosure I have been absent from the poker for a few months and if there is new information about accounts being banned in that time I am not up to date on it.

Great information really greatly appreciate your help with this matter that I am really new.

Yeah currently I am deciding between uphold and coinbase however I wanted to deposit dirrectly onto the wallet but I do not want my account being canceled so I will research to see if uphold allows transfer from a casino site.

To what blockchain wallet do you withdrawal can you give me the site? and do they charge you a fee from transfering from the blockchain wallet to Coinbase?

thanks in advanced for your help!

Originally Posted by 123cards321

Thanks in advanced for your help!

Just like the previous post. Use one wallet Bitcoin wallet to receive the deposit (I use Paxful. Super secure); then to receive funds, I send from Paxful to Coinbase for a small fee (maybe 0.0001 BTC which is about nothing); from there, the Withdrawal from Coinbase is very fast and simple as when you sign up for Coinbase, you will link your PayPal or checking account directly to Coinbase. That way, when you sell your Bitcoin on the market, you immediately receive US Funds in your Coinbase Wallet.

This can all be done right on your mobile device.

From there, you simply go to your Coinbase wallet and click withdraw and it’s usually electronically in your bank account within a few days. If on Friday for example, you’ll received funds electronically into your bank account no later than the following Thursday.

There are three catches: 1) Bitcoin pricing fluctuates and could dramatically go up or down favorably or unfavorably 5-10% which could skim value off your receipt; also, 2) the Bitcoin Sale fee is fairly high; 3) Hackers, mostly poor kids who are good at math and computers and have all the time in the world could potentially breach your Bitcoin Wallet and steal very easily all your BTC. It’s imperative that if you set up a BTC wallet that the source is secure and has a good reputation. Keep in mind, a hacker could even potentially hack into the BTC Wallet Company’s site and steal every BTC there. That’s why I like Paxful. They have a very good security reputation. For example, every time you make a BTC transfer, they require dual security verification protocols. Much harder for hackers to steal.

As an example, I just received a Bitcoin Withdrawal from Ignition Poker (very reliable site) for $9,500. I received the Bitcoin in my Paxful BTC Wallet and due to the price fluctuation of BRC, the value received had dropped to $9,475. Yes, $9,500 was received in my BTC wallet, but because the price of BTC dropped, my withdrawal dipped. 2 hours later though, BTC had a small rally and my wallet value was up to $9,502. So the value is constantly changing. Last week, the value of BTC dropped from $4,000 to $3,500 in a matter of hours due to negative news about BTC. So had I receive the withdrawal last week, my $9,500 withdrawal would only be worth $8,312.

But that goes both ways, last year BTC rallied from $4,500/BTC to $19,000/BTC in just one week!!!!

In that scenario, my withdrawal would have appreciated to over $40k!!!!!!!

To transfer the funds from Paxful to Coinbase, I had to pay a tiny 0.00001 BTC mining fee. That’s hardly anything.

I moved the funds from Paxful to Coinbase and the funds were received and resady to withdraw from my Coinbase Wallet about 45 minutes later.

After that, I waited for about 2 hours and the value of BTC increased and my wallet was at $9,502.

I withdrew most of the BTC (about $9300 or so and the cost to sell the BTC was around $125 about a 1.5% BTC selling fee); So I’m receiving around $9,175. The other BTC, I left there in case the value of BTC rises. Sort of like a baby investment that I can afford to lose.

I also agree on Coinbase.

I also use Block Chain Wallet and there's quit a few US sites that are good for deposit and withdrawals to choose from, with all types Bit Coin options.

in case if you want to store your Bitcoins for some time i recommend Exodus because there you have the control of your keys.

Thanks a lot for your help, time and consideration. Greatly appreciate all your responses and how fast they were! I will follow your guys advice.

Originally Posted by 123cards321

Good morning! I was wondering if you guys know what is the current best cryptocurrency wallet to transfer poker winnings to a us bank account and if you have any information if the banks are suspending the accounts that do this kind of transactions. I have read a couple of information online but wanted to make sure with people that are currently using it.

Not sure if this is the right place to post this.

Thanks in advanced for your help!

I use wallet https://bitcoinofficial.org
Banks are not suspending the accounts.

Interesting. Paxful wouldn't let me join in NY

I'm in the US. use blockchain for my wallet. Coinbase for my exchange. Can also link paypal with coinbase now.
Cash app good to have also. Free. Can buy BTC on cash ap and deposit directly with it. Super easy. Can't receive BTC with cash app tho. If you don't have it, get it free with my referral code. VCWJWCP and we each get $5!
Blockchain also free and once verified now they GIVE you $25 in Stellar! Takes couple days but it's FREE $$. Can convert the Stellar to BTC free on Blockchain swap and use for whatever you like

Originally Posted by smknginmaine

I'm in the US. use blockchain for my wallet. Coinbase for my exchange. Can also link paypal with coinbase now.
Cash app good to have also. Free. Can buy BTC on cash ap and deposit directly with it. Super easy. Can't receive BTC with cash app tho. If you don't have it, get it free with my referral code. VCWJWCP and we each get $5!
Blockchain also free and once verified now they GIVE you $25 in Stellar! Takes couple days but it's FREE $$. Can convert the Stellar to BTC free on Blockchain swap and use for whatever you like

i don' recommend Blockchain.com,you don't have private keys so you don't have your crypto they work exactly like a bank, beware if they put restrictions in the future. there are some option to store crypto totally free and you don't have to send any document.

Originally Posted by canabero

i don' recommend Blockchain.com,you don't have private keys so you don't have your crypto they work exactly like a bank, beware if they put restrictions in the future. there are some option to store crypto totally free and you don't have to send any document.

This may be valid. But, not really applicable for me. I don't keep any amounts of significance in for any amount of time over a day or two. I use it as a tool. And for my purposes- it's great
Never had any issues in sending or receiving. It's fast, easy, has a decent mobile app and - for now anyway- GIVES you $25 in stellar cyrpto FREE once verified. No need to link any banking info.
I don't know what you mean when you say,
"you don't have your crypto they work exactly like a bank." maybe a language barrier?
I DO KNOW having worked for one of the biggest banks in America... With an OF in the title.... Blockhain is NOT like a US bank. Perhaps similarities can found. But that is the case with almost anything.
And this thread isn't a Blockchain Yelp review. Its what works well for a US player. And I can tell you, as a US player. Blockchain has PROVEN to be a good tool to have in my belt.
Not a paid endorsement. Lol results may vary. Please do explore other options and see what works for you.
But, if you're in the US and want information on what has worked well for other US players, as it pertains to online poker..... That I can speak to directly. From my own personal experience.

Originally Posted by smknginmaine

This may be valid. But, not really applicable for me. I don't keep any amounts of significance in for any amount of time over a day or two. I use it as a tool. And for my purposes- it's great
Never had any issues in sending or receiving. It's fast, easy, has a decent mobile app and - for now anyway- GIVES you $25 in stellar cyrpto FREE once verified. No need to link any banking info.
I don't know what you mean when you say,
"you don't have your crypto they work exactly like a bank." maybe a language barrier?
I DO KNOW having worked for one of the biggest banks in America... With an OF in the title.... Blockhain is NOT like a US bank. Perhaps similarities can found. But that is the case with almost anything.
And this thread isn't a Blockchain Yelp review. Its what works well for a US player. And I can tell you, as a US player. Blockchain has PROVEN to be a good tool to have in my belt.
Not a paid endorsement. Lol results may vary. Please do explore other options and see what works for you.
But, if you're in the US and want information on what has worked well for other US players, as it pertains to online poker..... That I can speak to directly. From my own personal experience.

there are better tools and even faster, as far as i know Blockchain has not integrated Segwit, it's garbage if you would know about other options. Coinbase is similar but is good to use it as an exchanger but in my case is totally useless because is not available to my country to use FIAT, i use buda.com for that.
and also is obvious that they give you an airdrop to ask your info documents for selling your info to others. that has been done for several companies in internet.

I hear ignition and America's cardroom only take 1 to 2 days I hear alot of good things about how quick there crypto currency cashouts are

https://www.coinsclone.com Currently, Coinbase is the largest and most trusted exchange in the USA.

When it comes to buying and selling bitcoins, etherem and other cryptocurrencies, coinsfix.com is the best website to go to. I trust them completely.

thank you for your help!

I also use Gemini exchange and have a bitpay card.
With Bitpay, you can withdraw to your wallet(I use Edge) and then send to bitpay to use on all debit purchases anywhere. They use to have ATM withdrawals, and may have them again soon.

I use Abra for everything, works great, no issues.

Its only available via a mobile though

i want to go back to the good old days when my bank account was directly linked to full tilt. deposits and withdrawals no DAMN FEES. Then the republicans screwed it up. I hate to pay my money to deposit or withdraw my money.

I have been using Coinbase, but I've heard some unsavory things about them and am now considering switching to blockchain.

I use mycelium wallet for the bitcoin withdrawals and deposits. Then I send to my bitpay card which is just like a debit card. It converts the bitcoin into USD immediately based on the bitstamp market price. From there, you can either use the debit card like you would any other debit card, or you can transfer the USD to your bank account via ACH.

i use bitpay and i like this. another dont know.

Unfortunately I do not have any information about this problem, but I must say that if you have any such questions, try to find the answer in other places.

Binance - No verification required. Withdrawal limit 2 BTC per day.
BitFinex - no verification required. Before getting started, you need to connect Google Authenticator.
KuCoin - no verification required. No restrictions.
HitBTC - no verification required. Withdrawal limit 1 BTC per day and 5 BTC per month.
BitMex - no verification required. No restrictions.
CREX24 - no verification required. No restrictions.
YoBit - no verification required. No restrictions. Accepts QIWI.