I want to start a account and buy some bitcoins to make deposits to pokersites I did research but still need a little more info on right or wrong bank or wallet there is so many and is it really worth it? And has anyone else used them to deposit and was it as easy as they say it is? Any info you guys can give me will help just not sold on them yet!!!

I also want to learn about bitcoin.

Bitcointalk.org is a great source for info if you need some indepth help,just be aware that the community has a lot of political issues or scammers that will direct you the wrong way.

As for poker you need to really be aware of softplay,collusion and bots. The two main poker sites have a real issue with cheaters and Nitrogensports seems to have a rng issue as well. A year later and they refuse to provide a audit or hand history feature that you can use to show issues. So be warned it is the wild wild west.
Wallets and fees can be covered better by the people at bitcointalk.org.

Hello rawbad, I only use bitcoin for depositing and withdrawing. It has been very easy so far. I use Electrum wallet and CoinBase as my exchange. Ignition, SWC, WPN network, and BetOnline are the sites I use bitcoin at. so far so good. I purchase bitcoin from CoinBase, then transfer to my Electrum wallet, then I transfer to poker site. Withdrawing is the same in reverse. I am sold on it. Good luck to you.

Originally Posted by rawbad

I want to start a account and buy some bitcoins to make deposits to pokersites I did research but still need a little more info on right or wrong bank or wallet there is so many and is it really worth it? And has anyone else used them to deposit and was it as easy as they say it is? Any info you guys can give me will help just not sold on them yet!!!

I will give you some information from personal experience only. Okay I have a COINBASE account. It is totally legit linked to bank account. I have bought bitcoin and sold bitcoin using both my bank debit and ACH transfer of dollars back to bank as well as from bank. The problem I have is for some reason the Coinbase weekly purchase limit for "Debit Cards" is low (under $100), and that is the only 'instant" way to pay for bitcoin in the account. The Coinbase ACH transfer weekly purchase limit from checking is higher but it takes 3 to 5 business days to complete so you won't have bitcoin to deposit for 3 to 5 days with that method and this is the only option to receive money back to your bank account when you cash out the bitcoins in COINBASE (I don't have any weekly limit problem for the cashout so that is cool).
If you deposit or send bitcoin directly to or from a poker site from your COINBASE account your COINBASE account will be terminated. So you must first send and receive through another wallet. I use Blockchain.com you can set up a wallet there for free and send and receive or store bitcoin. Sending and receiving cost a small percentage so small I don't keep track it is literally pennies.
I have also set up an account but have not used it with GEMINI, another totally legit firm founded by the Winklevoss twin brothers, you may remember them as the brothers who came up with the idea for Facebook and lost it to Zuckerburg. GEMINI is similar to COINBASE but they do not offer debit card purchase so it will be 3 to 5 days. And you can assume your account will be banned for sending or receiving directly from poker sites like COINBASE.

Okay... It is easy and can be fast to deposit but I have found it is going to be 3 to 5 days to have the money in your bank account after you receive it from poker site.
After you set up COINBASE and BLOCKCHAIN accounts and send coinbase all the id information it is pretty easy to send and receive.

Here is a hypothetical. You want to deposit to ACR open your Coinbase account and buy instantly with debit or wait 3 to 5 days with ACH, after you have the bitcoins in your account open ACR and request a deposit. ACR will ask for deposit amount and will give you a BTC address to send funds to and a BTC total. Now open Blockchain and click receive bitcoin and they will give you an address, go to Coinbase and click send you will be asked for an address and amount, copy the address Blockchain gave you and enter the amount and confirm and your bitcoin will be sent to Blockchain. Once it arrives usually in a few minutes or less. Click send in Blockchain and enter the address and amount that ACR gave you (cut and paste) then confirm and your bitcoin will be sent and ACR will convert to cash in your account.
The process for withdrawal would be pretty much the same only in reverse order. I know this probably sounds convoluted but it is really quick and easy after you get the hang of it. Also Withdrawals from ACR/WPN usually take 1 or 2 days to approve so add that to your time frame.
There are a bunch of other ways to buy and sell bitcoin many have hidden fees and some are outrageous, so if you want low fees try my way and once you get the hang of it you can google and try other stuff if you want.
Hope this helps

thanks smallfrie listening to elvis HELPS he-he good info also I got it all I know that much from same chat with other people but didn't know about getting account terminated SO TY FOR THAT BIT OF INFO it all does sound pretty easy and like u said more I do it easier it gets so ty again!!
also on side note if u like elvis I found a tv program on CMT called SUN RECORDS its about elvis and other artis when they were just starting out its pretty good might want to check it out so ty and see u at the tables

here's a bitcoin guide i found here in CC
https://www.cardschat.com/showpost3434907-post264.html

i like bitcoin its like playing the stoc k market in a way most sites take em too fast cashout

Electrum is a good wallet because it offers double security protection, other than that it is pretty simple, each wallet comes with a QR code that you can take a snapshot of and then scan at an ATM to transfer cash into the account. You also scan that code, or copy and paste the link to the address when you are depositing into your bitcoin wallet.

Originally Posted by EllyWriter

... I purchase bitcoin from CoinBase...

Just one important note, if you are Canadian, Coinbase is now useless because you can no longer buy or sell bitcoins. Here is the email they sent out last summer:

"Dear valued Coinbase customer,
As of August 1, Coinbase’s Canadian payments provider, Vogogo, will be shutting down its payment processing business. When this occurs, Coinbase will no longer be able to support Canadian EFT transfers, Interac transfers, or the storage of customer CAD on Coinbase.
All customer CAD stored with Coinbase MUST be withdrawn off site or converted to digital currency by July 29th.
If you hold CAD in your Coinbase account, you must liquidate your CAD holdings before July 29th by either:
creating a withdrawal to your linked bank account or exchanging stored CAD for digital currency. If you are unable to withdraw or exchange your CAD before July 29th, Coinbase will suspend your account and significant fees will be incurred for CAD withdrawals. We are disappointed to lose the ability to offer these payment methods for our Canadian customers and hope to provide additional payment methods in the future. We appreciate your support during this change."


So as you can see, Coinbase is now useless for us Canadians.

Originally Posted by Pokerguy6666

Just one important note, if you are Canadian, Coinbase is now useless because you can no longer buy or sell bitcoins. ...
So as you can see, Coinbase is now useless for us Canadians.

So since Coinbase is no longer operational in Canada, what other bitcoin service provider would you recommend for Canadians?

Originally Posted by koskesh

So since Coinbase is no longer operational in Canada, what other bitcoin service provider would you recommend for Canadians?

I just started using QuadrigaCX, It seems to be a very good site but you need to get verified and here is what you need to submit:

Photo or scan of a Passport or Driver's license - must be in colour
Photo or scan of a https://www.quadrigacx.com/assets20170411/images/verification/bill.png showing your name and full address
Photo of https://www.quadrigacx.com/assets20170411/images/verification/holding.png that you have provided

The fees seem reasonable and I really like all the funding and withdrawal options offered. The Paypal withdrawal option will be very useful for me.

i had issues last time i used curbbits. stay clear from that vendor.

Okay. Not ready to try bitcoins. I'm staying with checks. For now.

Originally Posted by ninoqualita

i had issues last time i used curbbits. stay clear from that vendor.

i use coinbase ,never had that problem yet. thanks for info.

Originally Posted by Pokerguy6666

I just started using QuadrigaCX, It seems to be a very good site but you need to get verified and here is what you need to submit:

Photo or scan of a https://www.quadrigacx.com/assets20170411/images/verification/id.png - must be in colour
Photo or scan of a https://www.quadrigacx.com/assets20170411/images/verification/bill.png showing your name and full address
Photo of https://www.quadrigacx.com/assets20170411/images/verification/holding.png that you have provided

The fees seem reasonable and I really like all the funding and withdrawal options offered. The Paypal withdrawal option will be very useful for me.

Thanks for the info! I'll check it out.

I know use Xapo for all my bitcoin. You can even get a debit card from them

I use Xapo too is a very good wallet and you can use it in combination with Netteller for bigger trasactions when you can´t do with your debit or credit card. Xapo has doble verificaion system is very sure.

I just buy bitcoins with my bank account Via bitkonan site and I got my money really fast and fees for withdrawal bitcoin to your bank account are very low so I use only them.I thnk that they are 100x better than coinbase because of lower fees.

there is also coinbank service also there are exchanges who can make deposits and withdrawals online, there is c-cex and livecoin they can accept payments from bank and make withdrawals

Coinbase now lets you cash out to PayPal... You can't buy with PayPal but you can cash out to PayPal which is pretty nice.

Just bought some bitcoin on "bitstamp", they just recently started taking Credit and debit card payments from people
in the USA

Does anyone keep a % of their winnings in bitcoin to bet that it will continue to rise in value? curious of any "bitcoin investors"

I have kept some from time to time. Also have played a little in ALT coins.

Originally Posted by Melbell

I have kept some from time to time. Also have played a little in ALT coins.

What are ALT coins? I think I am going to finally do the bitcoin thing. It seems to be the least expensive way to cash out on BOL, but I have always been skeptical.....

ALT coins are another form of cyrpto. BitCoin is the main one. but any other coin is considered Alternate coin.

There also seems to be some wallets that are popping up that give lightening transfers due to some lag in the system from time to time. Still looking into them but its a interest offshoot for bitcoin transactions.

Careful with the alt coins,have got involved early with a few that where dumped by the devs as soon as it was profitable,also misleading of how many coins they are holding personally. its really critical to know what you are doing with those alts or you are just caught up in a ponzi pretty much.

Thanks to all; great info here...When I open the Electrum app, I have the choice between setting up a Standard or Multi-signature wallet or an option to watch addresses...I was wondering if anyone could explain the difference between the two wallet types or the transaction process to withdraw funds from a poker room...

I am trying to cash out funds from Bet-Online to this bitcoin wallet (Electrum), and the more I read, the more confused I become (normal ). I am lost in 'seeds' and 'keys'....TIA

Standard will give you a wallet with one private key. This is the wallet you should make. During the set up process, you should receive a 12 or 24 word recovery phrase. Make sure you write that down and store it offline.

Multisig will give you a wallet with multiple private keys. Say it's a 2 of 3 wallet where to make a transaction you will need 2 of the 3 possible keys. You shouldn't need to use this option, but it's good for a shared wallet, or some people like to use it as a type of cold storage.

Watch-only wallets allow you to monitor your existing addresses, but you wont be able to make any transactions.

To withdraw from a poker room, you set up a standard wallet, generate an address and then submit that address to the poker site.

Once you receive the bitcoin to your wallet, you can hold it, or send it to an exchange (Coinbase, Gemini, etc) and withdraw to your bank from there.

Talked to a ACR rep and they mentioned Spectrocoin.com has anyone used this..Im new to bitcoin and trying to figure out the best method to cashout and deposit using bitcoin for US players. Any advice would be appreciated. thank you.

What are the best Options to use Bitcoins? As far as funding and withdrawing money from ACR--Apparently need an exchange and wallet. Im totally new to this been looking for an hour and still confused. Any help would be great thank you!

See YouTube video for ACR deposit and cash out. Just looked at video. You would be better off looking at the Bovada bitcoin video. Just substitute Coinbase for Circle if needed and ACR for Bovada. The ACR video neglects to inform you to use a personal wallet (Blockchain is popular) between the gambling site and your exchange or bitpay card. Exchanges (Coinbase) and Visa bitpay card are financial institutions subject to USA banking laws. So if one transfers funds directly to/from a gambling site, the account could be closed. Hence, your personal wallet as a buffer. Your personal wallet is totally under your control.

Best option is to use real money.

See Bovada YouTube videos for Bitcoin deposit and cash out. Substitute Coinbase for Circle if needed and ACR for Bovada.

Normal money already canceled?

I use coinbase

xapo is nice. have coinbase but haven't used it in while. I read that coinbase doesn't like gambling sites.

I like to use Paxful as a wallet. Also like them cause you can sell the coin for many different methods including Paypal and gift cards.

I like Paxful the best. They are a person to person trading site for bitcoin but are also a wallet. I like to buy my bitcoin there too besides sell it for Paypal and gift cards.

Best ones to use:
http://www.acepokersolutions.com/poker-blog/pokerarticles/best-most-secure-bitcoin-wallets-for-poker-players/

And how to set them up - complete guide:
http://www.acepokersolutions.com/poker-blog/pokerarticles/how-to-setup-bitcoin-wallet-and-miner-for-poker-and-general-use-guide/

i like bitcoin its like playing the stoc k market in a way most sites take em too fast cashout

So many opitions these days. Almost a pain in the butt...spend days just researching different systems

Originally Posted by rawbad

I want to start a account and buy some bitcoins to make deposits to pokersites I did research but still need a little more info on right or wrong bank or wallet there is so many and is it really worth it? And has anyone else used them to deposit and was it as easy as they say it is? Any info you guys can give me will help just not sold on them yet!!!

Exodus is a very good computer based wallet that you control. It is fairly new and has one of the best user friendly GUI's in the industry. Setup and use is simple and your account is backed up with every transfer. Just in case you lose your computer for any reason. With your backup info, you can access and setup on a new computer. Great wallet to use between your exchange and the poker rooms.

Only fees by the wallet are those charged by the transfer.

Check them out, check their reviews online, google them. You are the master of your own fate.

God bless all.

there are literally hundreds of great wallets out there, but by far the easiest (although not cheap) to use because it allows you to actually link your CCs and bank acounts to make purchases and sales is Coinbase, most other wallets just hold your coins and let you trade them... however, if you ALREADY have coins and just want to daytrade them like stocks ROBINHOOD is pretty badass, but once again, it isn't a full exchange like Coinbase.

Originally Posted by EllyWriter

Hello rawbad, I only use bitcoin for depositing and withdrawing. It has been very easy so far. I use Electrum wallet and CoinBase as my exchange. Ignition, SWC, WPN network, and BetOnline are the sites I use bitcoin at. so far so good. I purchase bitcoin from CoinBase, then transfer to my Electrum wallet, then I transfer to poker site. Withdrawing is the same in reverse. I am sold on it. Good luck to you.

thanks will be doing it this way!