So I decided I would open up my own thread about Bit Coins in general.
Let me start off saying that Bit Coins probably won't be for everyone. Mainly because the price of bit coins goes up and down varying on supply and demand. The more bit coins there are for sale the less the value is. The more scarce bit coins become the more the worth.
For example when I started officially buying and selling Bit Coin. The price was well over $700.00 a coin. Then when I started using it for online casinos it was at about the $390ish range. Now it's bouncing back and forth between $190 to about $300.
Now most online casinos let you play in a micro bit coin. Which is 0.001 bit coin (or BTC for short). So get a full bit coin you'd have to win 1,000 mBTC (micro bit coin). So for example, I bought in lately for $100.00. Which allowed me to receive 0.32 BTC or 320 mBTC.
I've found online wallets like Coinbase and Circle to be a bit more intrusive into my personal life for my taste. Don't get me wrong the cash outs are fairly fast compared to some other online casinos. Ranging from 2 to 5 business days.
Yet I like my winnings in cold hard cash. Which Local Bit Coin provides me. They have several options ranging from allowing you to get your winnings via a cash deposit into your bank account, a load to your bluebird card, a western union, if you can find a cash method. It's probably on there.
Now of course because all of the sellers on there are 3rd party sellers. You are best looking a persons feedback and score to determine whether you can trust them or not.
Now of course if trading with random people around the world isn't your thing. There are several other options besides those US based options I had mentioned.
Honestly after all of the hoops I had to jump through to get a deposit to happen, and then all of the hoops to cash out. I kid you not a 8 hour from deposit to cash out to cash in hand. Is a very nice change of pace.
If you have any questions or wish to make your own observation feel free. I figured a Bit Coin thread would open up some hopeful discussion about how great this option is for those who are willing to brave it.
BitCoins
- Started by
- cheetahwind
- Super Hero 1061
- last active 1 year ago
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- Started by
- cheetahwind
- at Mar 03, 15, 10:47:41 AM
- Super Hero 1061
- last active 1 year ago
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- Replied by
- zuga
- at Mar 03, 15, 12:02:28 PM
- Admin 8359
- last active 7 hours ago
thanx for your informative post cheetahwind
some additional info can be found here : https://lcb.org/banking/Bitcoin-casinos.html -
- Replied by
- Cat50
- at Mar 03, 15, 06:29:08 PM
- Superstar Member 6583
- last active 6 hours ago
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- Replied by
- cheetahwind
- at Mar 03, 15, 09:08:01 PM
- Super Hero 1061
- last active 1 year ago
I guess Circle and Coinbase are only doing there job per US patriot act standards, but when you open an account with them. That they need to verify who you are, but that sort of takes the fun away from using an anonymous currency in my opinion.
Plus I just hate having my bank account linked to anything that isn't quite stable yet. Sure Bit Coin is coming around, but it still has a ways to go.
Circle will take you Visa card, the limits I have seen vary from person to person. My limit is $500, others I have seen is $100. -
- Replied by
- mer3801
- at Mar 03, 15, 09:42:22 PM
- Full Member 137
- last active 8 days ago
I like coin.mx. They want a pic of you holding the cc/debit card and your photo id. Circle is good, but $100/week maximum. Coinbase is a pain as far as how long it takes for you to recieve your funds.. I linked my bank account, but it says 2-4 days to get the money into Bitcoin. No thanks. Good post cheetahwind.
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- Replied by
- Bitspender
- at Mar 04, 15, 04:49:48 AM
- Super Hero 1354
- last active 2 years ago
Let me jump in for a min... Add a VISA credit card to your Coinbase along with a checking our saving account. And after your first successful deposit. Your future deposits are automatic at $100 a week. 30 days after your initial successful deposit. Your limit is increased to $1000 a week auto... Circle allows instant deposit as well. But a debit/credit card needs to be on file
Each companies requires you to register your full information and verify your identity. Once this is done and verified you are all set. Of course you have to make some successful deposit. But once that is done. You are all good. I use both circle and coinbase without any problems...
The process is basically the same as setting up a paypal account... -
- Replied by
- bongo
- at Mar 04, 15, 12:29:00 PM
- Super Hero 1840
- last active 1 day ago
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- Replied by
- cheetahwind
- at Mar 04, 15, 08:21:36 PM
- Super Hero 1061
- last active 1 year ago
Circle will take your regular bank card and allow you to tie an account that will allow you to do ACHs to it. Otherwise prepaid cards are a no go. Otherwise Coinbase hasn't gotten setup for anything but a "credit card", in other words the bank has to have established a credit line for you in order for you to use it at Coinbase.
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- Replied by
- bongo
- at Mar 05, 15, 05:08:27 PM
- Super Hero 1840
- last active 1 day ago
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- Replied by
- Bitspender
- at Mar 05, 15, 06:43:31 PM
- Super Hero 1354
- last active 2 years ago
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- Replied by
- Bitspender
- at Mar 05, 15, 06:47:28 PM
- Super Hero 1354
- last active 2 years ago
Chocolateman, I tried adding my visa debit card and it said only cc.. It wouldn't let me link it. Which is pretty lame considering it's the same account that's linked to my bank.
Apply for a Visa Credit Card or ask a family member or friend. If they mind if you link it to an account. The card won't be used as long as your bank account is in good standing. CC will only be used as a back up. It makes sense for Coinbase to ask for a CC. Because if your bank account has no funds. Then they feel your debit card maybe the same... -
- Replied by
- Bitspender
- at Mar 10, 15, 09:30:33 AM
- Super Hero 1354
- last active 2 years ago
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- Replied by
- Bitspender
- at Mar 10, 15, 01:57:36 PM
- Super Hero 1354
- last active 2 years ago
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- Replied by
- bongo
- at Mar 11, 15, 08:17:52 AM
- Super Hero 1840
- last active 1 day ago
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- Replied by
- blurobles
- at May 26, 15, 12:03:05 AM
- Newbie 2
- last active 5 years ago
CHEETAHWIND,I WAS SURPRISED TO READ ABOUT BITCOINS.YOU WHILE BACK I WAS ON THE WEB AND I RAN INTO A SITE ON BITCOINS ,WHICH THEY HAD A FEW CASINO SITES AND I WOULDN'T MISS IT W/TRYIN.NOW I DIDN'TKNOW WHAT TO USE THESE BITCOINS FOR AFTERWARDS BUT IF I FIND THE WEBSITE WHERE WOULD I CASHOUT TO??MAYB' TO MY EMAIL ?? THANK YOU FOR KICKIN OFF THE BITCOINS SUBJECT AND I AM GOIN TO LOOK INTO IT IN A FEW . ONCE AGAIN THANK YOU BLU
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