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usMistee234
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29 September 2016 - 1:47pm

very confused on bitcoin

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I tried to make my first deposit using bitcoin at slotocash and casino extreme and both didnt work. I signed up for coinbase after reading this site. Am i missing a step here? I talked to livechat at slotocash and they sent me a response saying to sign up w/ another site. I told them I have coinbase and they said I need to call coinbase. I dont understand. I hit deposit and it never asked me for any of my bitcoin info. Shouldnt it be asking me for info the same way if i was making a deposit w/ a credit card?

usMistee234
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29 September 2016 - 2:38pm
#1

just an update. i called ignition casino and they walked me thru it. Neither of the other casinos were helpful. I did not have a wallet so it wouldnt let me do anything. I thought coinbase was the wallet.

auCL-Ed
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30 September 2016 - 12:46am
#2

I haven't used Coinbase myself as I have my own personal wallet that I use. But usually with an online wallet you have to sign up, then they give you a wallet code, then you can deposit money into the wallet however you want.

Ignition Casino are associated with Bovada and they are heavily encouraging Bitcoin at the moment so I'm not surprised they were able to help you. If you need any other Bitcoin info we have a good thread about it here and we're working on an article or two that explains how it all works in simple terms.

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phCasinodepositors
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1 October 2016 - 3:06am
#3

Casinos website are not that friendly when it comes on using bitcoin. Some of them need to ask assistance for your deposit to reflect. So if your gonna use bitcoin for your deposit try to ask the casino first.

krcoolsongss
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10 October 2016 - 8:54am
#4

Hi, it seems that you figured out to use BitCoin. Yeah, it was very confusing at the very first moment.
After synchronizing your wallet with the bitcoin chain blocks, it would be quite easier to use.

Good Luck.

usMistee234
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10 October 2016 - 10:32am
#5

Yes, I think I have It down now. I have been using it almost every day. In case anyone else is confused my issue was I only had an exchange. I needed to get a wallet.

I purchase the Bitcoin on the exchange and then transfer to the wallet. I actually really like it. When making cash deposits I constantly have issues with my bank declining my debit card and with Bitcoin I don't have to worry about that. However, I can only purchase 150 bitcoins a week using my debit card and am not sure how to raise my limits so for high rollers I could see Bitcoin being an issue. You can do an ach to buy Bitcoin but it takes a week to go thru so that's a pain.

I enjoy lucky red, club world casinos and wish they would get on board with Bitcoin but maybe it's best for me so I limit my deposits with them Smile

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ustwitchyseal
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11 October 2016 - 5:52am
#6
Mistee234 wrote:

Yes, I think I have It down now. I have been using it almost every day. In case anyone else is confused my issue was I only had an exchange. I needed to get a wallet.

Which wallet did you choose?

When you use a site like Circle or Coinbase to purchase Bitcoin, the Bitcoin is loaded directly to your Coinbase or Circle account. This is often reffered to as a "wallet" because you can send your bitcoin to any other bitcoin address or generate addresses to receive Bitcoin. But in reality, it's Circle or Coinbase who have your Bitcoin. When you transfer them somewhere, they are the ones creating and broadcasting the transaction to the blockchain.

Mistee234 wrote:

I purchase the Bitcoin on the exchange and then transfer to the wallet.

Hopefully you are transferring them to a wallet like Electrum or Bitcoin Core that you downloaded and keep on your local device. Never ever send Bitcoin from Circle or Coinbase directly to a gambling website. (Or any other site that offers services that would be considered illegal in America) or you will eventually get an email like this:

Quote:

I regret to inform you that after a careful review of your account, Circle will not be able to offer you service.
As a federally regulated money service business, we are subject to the Unlawful Internet Gambling Enforcement Act. Gambling on our platform is outlined as prohibited in the ''Restricted Activities" sections of our User Agreement (sections 17 and 18). Your account has already been closed.
Please reference the User Agreement should you have any further questions.
Best,
Rick - Team Circle

Mistee234 wrote:

I can only purchase 150 bitcoins a week using my debit card and am not sure how to raise my limits so for high rollers I could see Bitcoin being an issue.

150 Bitcoin = almost $100,000 Smile

I think you probably mean $150 worth of Bitcoin or 150 millibitcoin (mBTC) which is the same as 0.15 Bitcoin.

1 BTC (Bitcoin) = 1,000 mBTC (millibits) = 1,000,000 μBtc (bits) = 100,000,000 satoshis

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usdnieder
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11 October 2016 - 7:30am
#7

Bitcoin is a lot to learn! Now that you seem to be enjoying it, you're running into the same problem I did when I first started converting to crypto, a lack of BTC! To get around minimums, I recommend getting as many exchanges as you can set up. Coinbase and Circle are good. Virwox let's you purchase BTC with a credit card, and xcoins.io has no purchase limits at all!

usMistee234
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11 October 2016 - 9:07am
#8

I didn't realize I could send using from circle or coinbase. I'm purchasing bitcoin from circle and coinbase and then going into blockchain and hitting receive and then the bitcoin is in the blockchain. Will I receive that email using blockchain?

I meant 150 usd. I wish I had 150 bitcoin that would be nice Smile

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usdnieder
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11 October 2016 - 10:02am
#9

You can definitely send from your exchange (circle,coinbase, etc.) But DO NOT deposit directly into the casino. See comment above.

ustwitchyseal
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11 October 2016 - 12:59pm
#10
Mistee234 wrote:

I didn't realize I could send using from circle or coinbase. I'm purchasing bitcoin from circle and coinbase and then going into blockchain and hitting receive and then the bitcoin is in the blockchain. Will I receive that email using blockchain?

I meant 150 usd. I wish I had 150 bitcoin that would be nice Smile

Ahh, well that's good that you're not sending directly from coinbase (you could). But blockchain.info is actually just another third party that sends and receives bitcoin for you.

It's not terrible or anything, but you should consider downloading your own (open source) wallet so that you can access your bitcoin directly without relying on a third party. There's a list of the safe ones here: https://bitcoin.org/en/choose-your-wallet I suggest electrum. It's the easiest to use and you won't have to download the blockchain (which can take like 12 hours) The instructions are pretty good, just make sure you write down your seed on a piece of paper. (it's a bunch of random words) and if you don't know what to do at some point just google it or ask.

Also, If you have an Iphone, never download a wallet from the Apple Store without checking with some nerds to make sure it's not a possible scam.

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usdnieder
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24 October 2016 - 7:00pm
#11

It works differently actually at rtg casinos. You enter the amount, then you get a BTC address generated to use for the deposit. Then log into your wallet and send the proper amount to the casino (slightly more if using a bonus because you will lose a small % to pay the miners.) It will take up to about an hour, rarely more; sometimes under a minute for your deposit to arrive.

Word to the wise. DO NOT SEND DIRECTLY FROM Coinbase. Use a third party like blockchain in between where you purchase the coins and where you send and receive from the casinos. Coinbase will ban you if in the USA.

bamajor1983
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24 October 2016 - 7:27pm
#12

For me bitcoin is very unstable, and therefore I very little use today.

ustwitchyseal
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25 October 2016 - 6:24am
#13
dnieder wrote:

It works differently actually at rtg casinos. You enter the amount, then you get a BTC address generated to use for the deposit. Then log into your wallet and send the proper amount to the casino (slightly more if using a bonus because you will lose a small % to pay the miners.) It will take up to about an hour, rarely more; sometimes under a minute for your deposit to arrive.

Word to the wise. DO NOT SEND DIRECTLY FROM Coinbase. Use a third party like blockchain in between where you purchase the coins and where you send and receive from the casinos. Coinbase will ban you if in the USA.

Just remember, if you have to log into a website in order to see your balance or send bitcoin, you aren't actually in control of the funds. Someone else is signing/broadcasting the transactions for you.

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ushope777
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4 November 2016 - 12:56am
#14

I use Coin Base, and I find it very easy to use. Strange you did not have a wallet. I automatically had one when I signed up. I haven't used it ever for casinos, but I have used it a few times for other purchases for bitcoin discounts.

Hope777

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ushope777
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4 November 2016 - 12:58am
#15
twitchyseal wrote:

Just remember, if you have to log into a website in order to see your balance or send bitcoin, you aren't actually in control of the funds. Someone else is signing/broadcasting the transactions for you.

Thank you for this advice. I would hate to be banned from the only place I know how to use. lol

Hope777

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ushope777
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4 November 2016 - 1:30am
#16

On another note, I cannot believe bitcoin is up over $700 right now! I remember when it was between $200 and $250! I sure wish I had invested at that time! Good grief!

Hope777

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auCL-Ed
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4 November 2016 - 1:38am
#17

Ha. Kids these days. I remember deciding not to buy any when they were worth $3. Cry

And git off my lawn! lol

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ushope777
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6 November 2016 - 11:51pm
#18
CL-Ed wrote:

Ha. Kids these days. I remember deciding not to buy any when they were worth $3. Cry

And git off my lawn! lol

Are you serious, CL-Ed? I probably didn't even know about Bitcoin back then. LMBO! Wink

Seriously, though, you are probably younger than I am, but I will respectfully leave your lawn. Tongue

Hope777

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auCL-Ed
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7 November 2016 - 10:34pm
#19

lol lol lol

I'm sure I've told the story here before. They were worth about $3 and I decided not to buy, then regretted watching it go up to maybe $30 or so shortly after, but then was feeling very smug when it dropped back to below $3 again. That must have been 5 years ago or so now.

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bgsharpe
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16 November 2016 - 9:09pm
#20
CL-Ed wrote:

lol lol lol

I'm sure I've told the story here before. They were worth about $3 and I decided not to buy, then regretted watching it go up to maybe $30 or so shortly after, but then was feeling very smug when it dropped back to below $3 again. That must have been 5 years ago or so now.

Not 3$ in Australian Dollars right? Wink

Yeah you told that one before Ed, if that would make you feel better I wouldn't spend 3 bucks on a thing you can't touch Joking back then either, just a year ago bitcoin worth around $200 US Wink so it's still around 3,5 times cheaper than now.
I could imagine few years from now when we still chat here and the bitcoin value is around 5 -10 000$ that we're hadn't bout coins when they worth under $1000 Surprized Tongue

auCL-Ed
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17 November 2016 - 12:32am
#21

Well seeing as I now have a few fractions of a bitcoin, I can only live in hope!

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bgsharpe
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17 November 2016 - 9:54pm
#22

Yes I have as you said few fractions too but knowing myself would not have the patience to keep them for a long time, which would probably be a mistake.

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