Bitcoin Forum

I recently just won about 10k usd on blackjack off $300 :D , one way(their preferred way) to cashout is bitcoin. I downloaded bitcoin armory, figuring out how it works as we speak,seems like and advance wallet.... pretty sure I need to download a bit coin core. Anywho, my question is would be worthy to cash out the money through bitcoin, or try to do the old fashion way(a check). I know bitcoin rates fluctuate and I could potentially lose my winnings if the exchange rates drop. However, I made an account on itBit and once my accounts verified i'll most likely just exchange to cash. The problem is the verification can take 2 weeks.


Thanks for the help in advance, any advice is welcomed and appreciated.

You can get a simple secured wallet like Electrum or Coinomi from playstore for Android phones. You have control over your funds with these wallets. Again, since you identified that the site wants it the Bitcoin way why complicate it with cash? Just get it sent to your Electrum wallet ASAP.

Congrats dude! Not everyday you get to see winnings like this. Cashing out with bitcoin should even be the best and quickest option for you and that is what you should go for. Fluctuation in prices is normal just as any other currency and it is not something that should be of worry as you cannot loose your cash but even gain more as the value of bitcoin increases.
However, you are making use of complicated wallets most especially for a newbie. If you have a secured PC or smartphone, you can just download either electrum or exodus wallet-PC only (they are light wallets and easy to use) and make use of the public address to collect your earnings or just open a web based wallet and cash out anytime you want. For web based, blockchain.info is not a bad idea.
Cheers.

Bitcoin price is at its highest these days. If you get BTC today it will be a little bit difficult to make extra profit from this transaction quickly. If you want to invest and think long term it is a great opportunity. Also, to store more safely your coins buy a ledger, it is worthy and be very very careful with your accounts private key.

If you take a check then you will have to pay a large tax on the gain. I think it's not a good idea. It is admissible only in case if you need to show officially the reason that your way of life does not match your income. In other cases you would be better to get winnings in bitcoins. besides, it would be an opportunity to increase your income.

ah sweet man, thank you guys. Ill try the simple wallets and get it transferred asap. I'll be in touch if I need help or if all goes well. Sorry about moving the post comp lagged and it sent it twice to two different places.  :-\

Congratulations on a nice winnings,almost 2BTC win is something that does not happen every day.

As for your concerns what and how to cash out your money,I would recommend to you that you cash part of money in cash/fiat and and to leave something in BTC.In this way you will definitely profit short term,and very possible long-term if BTC price go up.Of course it's your decision and your money,BTC is always risk investment but for now looks very promising for the future.

Save Bitcoin and hold for long term. 10k today could turn into 20k in a years time.