what bitcoin wallets allow transfer to personal bank accounts in USD

[grindix]

I am interested in transferring money out of a poker site to a bitcoin wallet and subsequently to my bank account (US or foreign). What wallets are best for this purpose?
I already inquired with spectrocoin and they mentioned they don't have the option to transfer to a US bank account.
what fees should i expect to incur for such a transfer?

[DeathAngel]

Possibly the most trusted & well known way to accomplish what you’re asking -

https://www.coinbase.com/

[grindix]

Apparently coinbase has high fees though according to an ACR rep. He suggested gemini.com. will it help achieve the same? is it considerably lower fees?

[OmegaStarScream]

What you're looking for is an exchange, and not a wallet.

I'm not into gambling so I can't tell you for sure but I've seen people getting their accounts locked in different exchanges for being involved in gambling activities.

If you want to be safe from that, maybe you should send the funds to your personal wallet first (Electrum for example) then from there, send to Coinbase/Gemini (both reputable).

[xWolfx]

Here you have multiple exchanges to choose from:

At the end it comes up to personal preference, location and payment methods you have available. This is a pretty nice comparison chart showing all pros and cons of each.

https://99bitcoins.com/bitcoin-exchanges/

[grindix]

What you're looking for is an exchange, and not a wallet.

I'm not into gambling so I can't tell you for sure but I've seen people getting their accounts locked in different exchanges for being involved in gambling activities.

If you want to be safe from that, maybe you should send the funds to your personal wallet first (Electrum for example) then from there, send to Coinbase/Gemini (both reputable).

so none of the wallets will allow you to exchange from BTC to USD?
why would an exchange lock my account for being involved with gambling activities and a personal wallet website not?

in terms of comparison between gemini and coinbase is the former considerably less expensive in terms of fees?

[odolvlobo]

so none of the wallets will allow you to exchange from BTC to USD?
why would an exchange lock my account for being involved with gambling activities and a personal wallet website not?

in terms of comparison between gemini and coinbase is the former considerably less expensive in terms of fees?

* Many wallets partner with companies that buy/sell BTC.

* Exchanges don't want to get into trouble with U.S. laws, and online gambling is illegal in the U.S.

* The differences in cost depend more on the convenience than the company.

[LeGaulois]

Possibly the most trusted & well known way to accomplish what you’re asking -

https://www.coinbase.com/

Horrible advice. OP will get his account locked and who knows what will be his nightmare for maybe get back his coins. Everyone knows Coinbase doesn't allow everything related to gambling.

OP you should use an exchange (not a wallet) like Bitstamp, Kraken, you will get the cheapest fees compared to Spectrocoin/Coinbase sites.

[grindix]

so none of the wallets will allow you to exchange from BTC to USD?
why would an exchange lock my account for being involved with gambling activities and a personal wallet website not?

in terms of comparison between gemini and coinbase is the former considerably less expensive in terms of fees?

* The differences in cost depend more on the convenience than the company.

Can you please elaborate on this? from what i have seen so far in terms of fee guidelines on both sites they are the same:
https://support.coinbase.com/customer/en/portal/articles/2109597
https://gemini.com/web-fee-schedule/#web-fee-schedule

how can there be a difference in convenience that will lead to different fees?

[grindix]

Possibly the most trusted & well known way to accomplish what you’re asking -

https://www.coinbase.com/

Horrible advice. OP will get his account locked and who knows what will be his nightmare for maybe get back his coins. Everyone knows Coinbase doesn't allow everything related to gambling.

OP you should use an exchange (not a wallet) like Bitstamp, Kraken, you will get the cheapest fees compared to Spectrocoin/Coinbase sites.

I thought coinbase was an exchange too. Isnt that the case? and would bitstamp and kraken allow transactions/transfers initiated from a gambling site? what about gemini?

Somebody suggested doing ACR-> electrum -> coinbase-> bank account. seems like an effective way to avoid transffers coming directly from a gambling site to coinbase.

[LeGaulois]

Possibly the most trusted & well known way to accomplish what you’re asking -

https://www.coinbase.com/

Horrible advice. OP will get his account locked and who knows what will be his nightmare for maybe get back his coins. Everyone knows Coinbase doesn't allow everything related to gambling.

OP you should use an exchange (not a wallet) like Bitstamp, Kraken, you will get the cheapest fees compared to Spectrocoin/Coinbase sites.

I thought coinbase was an exchange too. Isnt that the case? and would bitstamp and kraken allow transactions/transfers initiated from a gambling site? what about gemini?

Somebody suggested doing ACR-> electrum -> coinbase-> bank account. seems like an effective way to avoid transffers coming directly from a gambling site to coinbase.

Coinbase is more a wallet than an exchange, at least it's how we consider it. If we talk about Coinbase Pro then yes it's an exchange.
And yes, at least I have never seen someone with a problem with Kraken/Bitstamp, nor I have seen written in the TOS they don't accept deposits coming from gambling (while Coinbase did)

ACR-> electrum -> coinbase-> bank account.

Sure but it takes time and waste of bit of money

[grindix]

ok so what about gemini? the ACR (poker site) rep recommended it as having lesser fees than coinbase (which he mentioned to have notoriously very high fees).
Is gemini safer in terms of transfers coming from gambling websites? is it considered an exchange too?

[adzino]

I am interested in transferring money out of a poker site to a bitcoin wallet and subsequently to my bank account (US or foreign). What wallets are best for this purpose?
I already inquired with spectrocoin and they mentioned they don't have the option to transfer to a US bank account.
what fees should i expect to incur for such a transfer?

You can't transfer your coins from your wallet to your bank account (in fiat). What you can do is use a third party site (such as an exchange) and sell your coins. Withdraw your fiat money to your bank account. You can open up a thread over here and sell if people are willing to buy your bitcoins.
As far as I know, coinbase blocks account that are associated with gambling (not sure, I might be wrong). You can transfer your bitcoin to another wallet. And then transfer your coins from that wallet to your coinbase account.

[grindix]

I am interested in transferring money out of a poker site to a bitcoin wallet and subsequently to my bank account (US or foreign). What wallets are best for this purpose?
I already inquired with spectrocoin and they mentioned they don't have the option to transfer to a US bank account.
what fees should i expect to incur for such a transfer?

You can't transfer your coins from your wallet to your bank account (in fiat). What you can do is use a third party site (such as an exchange) and sell your coins. Withdraw your fiat money to your bank account. You can open up a thread over here and sell if people are willing to buy your bitcoins.
As far as I know, coinbase blocks account that are associated with gambling (not sure, I might be wrong). You can transfer your bitcoin to another wallet. And then transfer your coins from that wallet to your coinbase account.

I have seen a post now on a poker forum that Coinbase might track transfers upwards searching for gambling origins.
I am now considering gemini for my purpose. Does it have any restrictions on transfers incoming from poker sites?
does anybody know if i will be able to transfer my USD from it to a lebanese bank account?

[Glutius]

I am interested in transferring money out of a poker site to a bitcoin wallet and subsequently to my bank account (US or foreign). What wallets are best for this purpose?
I already inquired with spectrocoin and they mentioned they don't have the option to transfer to a US bank account.
what fees should i expect to incur for such a transfer?

Try to find out information about USD PAX. They are already placed on Blockchain.com and have a very stable support in the face of the Treasury New York. Very new stablecoin. He's only six months old. I think that might be the answer to your question.

[RodeoX]

Note that all this will come with AML/KYC/tax rules the moment you want dollars instead of bitcoin.  It will takes at least a week to set up the paperwork between your bank and the exchange. If you want to avoid all the rules then spend your bitcoin. You are only going to make the exchange rich by trading back and forth between crypto and fiat. 

[feryjhie]

I am interested in transferring money out of a poker site to a bitcoin wallet and subsequently to my bank account (US or foreign). What wallets are best for this purpose?
I already inquired with spectrocoin and they mentioned they don't have the option to transfer to a US bank account.
what fees should i expect to incur for such a transfer?

maybe you can withdraw your bitcoin to electrum wallet then use localbitcoin to exchange your bitcoin via bank transfer?

[squatter]

What you're looking for is an exchange, and not a wallet.

I'm not into gambling so I can't tell you for sure but I've seen people getting their accounts locked in different exchanges for being involved in gambling activities.

If you want to be safe from that, maybe you should send the funds to your personal wallet first (Electrum for example) then from there, send to Coinbase/Gemini (both reputable).

This probably isn't enough. I've read about people transferring through their own wallets with multiple hops and still getting warned by Coinbase (or having their account closed) for association with gambling sites. This probably happens on Gemini as well, it's just that Gemini often refuses to disclose their reasons for terminating accounts.

One way around this is using a competent mixer or sending coins through an exchange like Binance that doesn't regulate transactions to/from gambling sites.

[grindix]

What you're looking for is an exchange, and not a wallet.

I'm not into gambling so I can't tell you for sure but I've seen people getting their accounts locked in different exchanges for being involved in gambling activities.

If you want to be safe from that, maybe you should send the funds to your personal wallet first (Electrum for example) then from there, send to Coinbase/Gemini (both reputable).

This probably isn't enough. I've read about people transferring through their own wallets with multiple hops and still getting warned by Coinbase (or having their account closed) for association with gambling sites. This probably happens on Gemini as well, it's just that Gemini often refuses to disclose their reasons for terminating accounts.

One way around this is using a competent mixer or sending coins through an exchange like Binance that doesn't regulate transactions to/from gambling sites.

Binance doesn't seem to allow withdrawals in USD. On another site people are saying they use Gemini with a wallet in the middle to good effect. Are you aware of them specifically having restrictions on transfers coming from gambling sites?

[grindix]

Note that all this will come with AML/KYC/tax rules the moment you want dollars instead of bitcoin.  It will takes at least a week to set up the paperwork between your bank and the exchange. If you want to avoid all the rules then spend your bitcoin. You are only going to make the exchange rich by trading back and forth between crypto and fiat. 

Are you saying there will be tax implications to transferring USD from an exchange to a bank account? I am currently living in the middle east, will there be such implications on transfers to a bank account there? seems like gemini offers wire transfers for international accounts.
I have never used bitcoin before and don't have a way to spend it so I will need USD and there is no way to avoid the fees.