Bitcoin as the ONLY payment option, lol what?

[hublot]

I know some affiliates in Malta who have used them, for significant amounts (6 figures+) with no issues.

[Sherlock]

There is some (positive) issue with Malta's banks that are probably much more Bitcoin friendly. I am going to discover it in few weeks. But Malta is EUR zone, not GBP zone, that is the problem I guess. Am I wrong? Justbookies needs GBP exchange.

[justbookies]

But Malta is EUR zone, not GBP zone, that is the problem I guess. Am I wrong? Justbookies needs GBP exchange.

Yep. I will do as you suggest and withdraw in euros to GBP account, though I am also setting up a euro personal and company account in the UK (much more difficult to do than you might expect as the UK banks just don't like offering them - many did have them and withdrew them & nothing to do with brexit either).

As for Kraken, really disappointed with them on the GBP front. Their gbp exchange is a total joke with no liquidity. I converted BTC to GBP and then tried to withdraw and could not after the first time. So then decided to convert back to bitcoin to get that btc into euros. Problem doing that is BTC/GBP exchange is such tiny volume that you pay up to 5% premium to get the money back into bitcoin and it has taken days to do it. Kraken don't give a **** and their support took 3 days to answer and then only after I opened a new ticket demanding a response and asking why they were so crap. I know I have heard good things about them, but seems to me they don't give a damn that people get trapped with GBP because they cant withdraw it thanks to their **** processor paycash. They would do everyone a favour if they closed the btc/gbp exchange section totally until they get a genuine withdrawal option for gbp. It may work for small sums, but the BTC/GBP exchange is still crap even for them and it wont get any better if only tiny players are able to use it.

[Sherlock]

I agree it is awful. They somewhat did very good job to seize EUR<->BTC like 2 years ago and they thought they can repeat it with other non USD currencies, I think. This is what the forums are good for. Sorry if I am also the guilty one who brought your troubles.

[gaming]

I've never used Bitcoin before, but will give it a go.

Me too

[justbookies]

I agree it is awful. They somewhat did very good job to seize EUR<->BTC like 2 years ago and they thought they can repeat it with other non USD currencies, I think. This is what the forums are good for. Sorry if I am also the guilty one who brought your troubles.

No you are not 'guilty'. You have been incredibly helpful to everyone re: bitcoin and I am very grateful for your advice and opinions. I am just sharing my experience to hopefully benefit other affiliates trying to convert their hard-earned commissions from bovada etc into fiat currency. I think the lesson with kraken is to stick to their BTC/EUR exchange only.

I joined coinfloor and deposited fiat funds and they wanted to know every little thing about me and the money. I suspect the due diligence by some of these exchanges may cause a problem for a few affiliates.

[WhatxD]

Has anyone had their "bitcoin" payment from Bovada for last month yet?

Still haven't had mine and it's my first time receiving a payment this way. I really don't like this entire process and nor do I feel comfortable with it.

[justbookies]

Yes, been paid. Don't expect an email notification from them, they don't send one despite saying otherwise. Just check your wallet.

[WhatxD]

Yep just checked my web based wallet and it's there. No email notification from either of them.

I was going to send the bitcoin to Kraken and withdraw in Euros to my UK bank account and just have the bank do the currency conversion but after reading the posts above I'm starting to have second thoughts. The amount is only low 4 figures. Am I likely to encounter any problems with this method or should I just look for a Kraken alternative?

[justbookies]

I was going to send the bitcoin to Kraken and withdraw in Euros to my UK bank account and just have the bank do the currency conversion

I think this is what you should try. It is what I will be doing - the problems I ran into were withdrawing GBP from kraken after using their GBP exchange. Everyone, including Kraken, seems to think the Euro route you outline is by far the best one and just suffer the currency exchange by your bank. Kraken's euro withdrawals dont go through a middle man so are the most straightforward method - at least that is what they say.

[MMM]

Yes, been paid. Don't expect an email notification from them, they don't send one despite saying otherwise. Just check your wallet.

Same here.

Btw, someone can recommend an exchange that handles non sepa EU payments?

[Azureus]

There is some (positive) issue with Malta's banks that are probably much more Bitcoin friendly. I am going to discover it in few weeks. But Malta is EUR zone, not GBP zone, that is the problem I guess. Am I wrong? Justbookies needs GBP exchange.

Leupay looks really interesting, very tolerant, licenced and you can have multiple accounts in multiple currencies. They seem to be used to all the stuff around gaming, bitcoin, forex etc.

[justbookies]

Just in case any affiliate or bettor is unconvinced by the rule of never doing a direct bitcoin payment to or from a gambling operator via a bitcoin exchange / ewallet:
http://www.newsbtc.com/2016/07/17/co...ons-resurface/

[nsawins]

Bitcoin is a hassle but it beats having to go to the bank with foreign checks every month that they don't allow you to simply deposit at the ATM machine. It is what it is. Having said that, I certainly wouldn't feel comfortable having a huge chunk sitting in bitcoins somewhere. Good luck to all.

[Former Member 10]

Just wanted to let everyone know to be careful with using Kraken. We just had our entire BP payment stolen earlier this morning. Followed all the instructions with sending to BC.info first and then Kraken. Cashed out to USD yesterday and requested wire. Woke up this morning and wire transfer request was cancelled and USD exchanged back into BTC. All the BTC was transferred out and now Kraken is investigating. We had 2FA setup but never received anything other then an email stating that our 2FA had been changed. Checked the log of the associated email address and nothing fishy is in there. The "Global Settings Lock" is also enabled on our account and it is essentially frozen. I will update once we figure out what happened but I would use caution when cashing out.

[TheGooner]

This is a major concern ... especially as you had two factor authentication turned on.

Have you also alerted BP to this fact ?
They need to know that their recommended procedures still has holes in it.

[Former Member 10]

Looks like others are having the same problem. I would stop using Kraken ASAP.


https://m.reddit.com/r/ethtrader/com...y_account_not/

Sent from my SM-G920T using Tapatalk

[Former Member 10]

Just wanted to update everyone that Kraken is still dragging their feet and trying to blame users for the accounts being compromised. There are some users that did not have 2FA enabled and others like myself that had 2FA enabled but were still compromised. Kraken has been very slow on getting back to me and has not confirmed whether the funds will be restored. I just want to warn others not to use Kraken until they sort out this security issue.

[Sherlock]

Bitfinex compromised as well. On the top the ETH/ETC battle. Crazy.

[TravG]

Just wanted to update everyone that Kraken is still dragging their feet and trying to blame users for the accounts being compromised. There are some users that did not have 2FA enabled and others like myself that had 2FA enabled but were still compromised. Kraken has been very slow on getting back to me and has not confirmed whether the funds will be restored. I just want to warn others not to use Kraken until they sort out this security issue.

Thanks for sharing, I wasnt aware. Can anyone recommend another good wallet where you can withdraw to US bank accounts? I liked Kraken because when I withdrew it would be in my bank within the next day. Pretty convenient.