Deposit from pool to cryptsy

[heartofalion]

Looking at setting up cryptoSwitcher for alt currencies. I'd like to use to auto sell on cryptsy functionality but I am unclear how to get the coins i mine via a pool  automatically into my cryptsy account. Can you use the cryptsy deposit address as your deposit address for pools, or does the coins have to go into your wallet first?

Any assistance would be much appreciated.

[Xanthe]

Looking at setting up cryptoSwitcher for alt currencies. I'd like to use to auto sell on cryptsy functionality but I am unclear how to get the coins i mine via a pool into my cryptsy account. Can you use the cryptsy deposit address as your deposit address for pools, or does the coins have to go into your wallet first?

Any assistance would be much appreciated.

I do this all the time and it works fine.
As you describe, you can just generate a deposit address on Cryptsy and put it into the payout address slot for your pool. Your pool payouts will head directly to your balance on Cryptsy (aside from the lag time of the transaction being confirmed by the blockchain, of course).

[heartofalion]

Awesome! Thanks so much for the quick reply.

One other quick question. Do you know why p2pool.org says to not use an exchange address?

Thanks!

[Xanthe]

No problem.

As for the p2pool -> exchange question...

I believe they say this because p2pool tends pay out in a ton of small transactions. What would happen is you'd be spamming your exchange's wallet with a lot of tiny transactions which would possibly result in higher transaction fees for them when they send out payments to people withdrawing coins (this is my understanding, at least -- I'm no expert). The pools that I use to deposit directly to exchanges are non-p2pool style and I use fairly high payout thresholds.

Good luck

[Big Toe]

If any newbies on here need help feel free drop me a pm

[roy7]

No problem.

As for the p2pool -> exchange question...

I believe they say this because p2pool tends pay out in a ton of small transactions. What would happen is you'd be spamming your exchange's wallet with a lot of tiny transactions which would possibly result in higher transaction fees for them when they send out payments to people withdrawing coins (this is my understanding, at least -- I'm no expert). The pools that I use to deposit directly to exchanges are non-p2pool style and I use fairly high payout thresholds.

Good luck

It's an old thread but this answer is wrong, so I want to make sure right info is on here. Yes lots of dust can cause fees when doing transactions and putting it all at your exchange means you can't try to sweep the dust/etc. But the real reason is not all exchanges look at the coinbase for generated (newly minted) coins. They only look at normal transactions. BTC-E is one such exchange. If you deposit newly minted coins directly to BTC-E you'll never get them, because they don't look at the coinbase.

I'm not sure which exchanges this is safe with and which it isn't. But that's why it's dangerous.