Send and receive from same btc address how?

[marksanchez5544]

Can anybody explain how to do the following please,

"To verify your (external) address with your account, you need to make a deposit from this address."

They basically saying I have to send from the same btc address that I want to withdraw too.

Can anyone explain how to do this please?

Thanks.

[mocacinno]

Can anybody explain how to do the following please,

"To verify your (external) address with your account, you need to make a deposit from this address."

They basically saying I have to send from the same btc address that I want to withdraw too.

Can anyone explain how to do this please?

Thanks.

Wait, take a step back... Who's asking you to do this?
This is usually a scam trick!

When somebody asks you to send the money using an irreversible method that's semi-anonymous in order to get money from them, alarm bells should start going off.

Compare it to fiat money: if you meet a stranger you've never met on the corner of a street and he tells you to give hem a $100 bill and walk away with the promise he'll meet you at the same corner one day later and give you your $100 back + $500, but you have no way of identifying him or making sure he keeps his word... Would you do this?

if the answer is no, then why would you give a stranger on the internet money on a vague promise you cannot enforce in any way?

[marksanchez5544]

Thanks for replying, I think it's a scam, but is it technically feasable?

[mocacinno]

Thanks for replying, I think it's a scam, but is it technically feasable?

Sure, somebody could potentially verify an incoming transaction and see which unspent output was used to fund an address...
But, in the many, many, many years i've been involved in crypto, i can honestly say i have never ever seen any legit cases. 100% of the cases that asked money to receive money were scam (or scam attempsts).

But if you ask me if it's technically possible, the answer is: yes... It's just not how this works, and the person asking you for money is 99,999% certainly trying to scam you.

So, i guess it's a good thing you asked help before sending money... Usually we see people that have already sent money and now ask if there's a way to get their funds back (the answer is: no).

[P2PECS]

Can anybody explain how to do the following please,

"To verify your (external) address with your account, you need to make a deposit from this address."

They basically saying I have to send from the same btc address that I want to withdraw too.

Can anyone explain how to do this please?

Thanks.

Could you elaborate on who is asking you to do this? It sounds like a scam, but it also depends on the amount. If you want to withdraw 1 BTC and they ask you to deposit a minimum of 0.0001 BTC it doesn't sound so bad, depending on who is asking you.

If it's something you've supposedly "won" like a lottery prize, it's a scam, and there have been a number of them around here recently.

[marksanchez5544]

This is an exchange called keetticoin. They don't have a very good reputation. I can see that. They are asking for a deposit of .01 btc in order to withdraw. I will post exactly what they have said below. I have not put any money in, but someone gave me access to an account as payment for a product I supplied.

Keetticoin response below.

You can withdraw your funds only on external address, which is registered and verified with your account. To verify your (external) address with your account, you need to make a deposit from this address. Deposited amount will be added to your current balance amount and will be available for withdrawal at any time immediately. More information you will find on Deposit area in your profile. Minimal amount of the deposit is 0.01 BTC.

[P2PECS]

It doesn't look good to me. How much are you supposed to have available to withdraw?

I guess the problem lies with the person who supposedly "paid" you by giving you access to that account. It sounds like a scam and that website sounds like a scam too, apart from the fact that an internet search already points to it.

[dataispower]

Thanks for replying, I think it's a scam, but is it technically feasable?

It's confirmed scam they want to blackmail op and if he does never will op see it's btc back again. We have to grow wise to understand the when some body wants to scam us and when some body don't want to scam. With our common sense we need to apply some wisdom to ourselves so that we will not be victim of anything that concerns scam. mocacinno has break it down with his examples and explanation with the scenario you will know you are attract to be scam

[marksanchez5544]

I have around 7000 dollars to withdraw, everything points to a scam, surely if they want to verify an address as the other guy above said, I could just deposit a really small amount for withdrawal etc, and the fact they are being vague about how to send and receive on same address, which there does not seem to be much info on how to do this.

The do not offer any links to info pages in how to do this, or suggest any wallets with this feature, except saying coinbase and blockchain has this feature, which I cannot find.

[mocacinno]

--snip--
It sounds like a scam, but it also depends on the amount. If you want to withdraw 1 BTC and they ask you to deposit a minimum of 0.0001 BTC it doesn't sound so bad, depending on who is asking you.

--snip--

nooooope... That's how scammers work.... They feed on your greed when they start throwing big numbers your way!

Hey buddy, i'll give you $1.000.000 tomorrow if you give me $100 now and walk away. Dollar signs light up in your eyes, greed take over, you hand over your $100  because it's only a small amount and $1.000.000 is so much... But guess what: the scammer only wanted that $100, you'll never get your million, you just lost $100.

I have around 7000 dollars to withdraw, everything points to a scam, surely if they want to verify an address as the other guy above said, I could just deposit a really small amount for withdrawal etc, and the fact they are being vague about how to send and receive on same address, which there does not seem to be much info on how to do this.

The do not offer any links to info pages in how to do this, or suggest any wallets with this feature, except saying coinbase and blockchain has this feature, which I cannot find.

If you do this, you'll never get your $7000 AND lose the small amount.
On top of that, the scammer will learn their trick works and they'll continue doing it.

[P2PECS]

Having to deposit 0.01 BTC to withdraw $7,000 is too risky. Apart from the fact that it is too clear that it is a scam. Contact the guy who supposedly "paid" you with that account and tell him to pay you another way, although I'm afraid you're not going to get paid anyway.

--snip--
It sounds like a scam, but it also depends on the amount. If you want to withdraw 1 BTC and they ask you to deposit a minimum of 0.0001 BTC it doesn't sound so bad, depending on who is asking you.

--snip--

nooooope... That's how scammers work.... They feed on your greed when they start throwing big numbers your way!

Hey buddy, i'll give you $1.000.000 tomorrow if you give me $100 now and walk away. Dollar signs light up in your eyes, greed take over, you hand over your $100  because it's only a small amount and $1.000.000 is so much... But guess what: the scammer only wanted that $100, you'll never get your million, you just lost $100.

Yes that is clear but it depends on who is asking you, as I've said. That's why I was asking him who was asking him that. In certain casinos they only let you withdraw by a method if you have deposited with that method, so there are cases where depositing is not a scam. In this case it is very clear that it is a scam.

[marksanchez5544]

Yes I think you're right. I have posted on there support that I think they are using a scam method to make members add more money into there account. I will update u should they decide to respond to it. Thanks for all the advice and confirming what I thought was just a scam.

[P2PECS]

Yes I think you're right. I have posted on there support that I think they are using a scam method to make members add more money into there account. I will update u should they decide to respond to it. Thanks for all the advice and confirming what I thought was just a scam.

You won't get anything out of writing to the support of a scam site. Forget about it and try to get paid what you are owed with another method. Although I think the one who supposedly paid you is a scammer too and you're not going to get anything out of it.

[mocacinno]

--snip--
Yes that is clear but it depends on who is asking you, as I've said. That's why I was asking him who was asking him that. In certain casinos they only let you withdraw by a method if you have deposited with that method, so there are cases where depositing is not a scam. In this case it is very clear that it is a scam.

Well, truth be told, i'm not a gambler... I did test the tech side of a couple casino's in the past, and i do know that some casino's have some requirements when they give out free rolls or stuff like that... So, i have to agree (somewhat) that if a reputable casino gives you "free money to gamble with" but they do require you to deposit some of your own money in order to play with the free money, it might be legit... But i don't think this falls into the "pay me money in order to withdraw money you already own" category

@OP: i know it might feel "wrong", but i guess you'll probably have to write of the $7000 anyways. If somebody is trying to lure you in with the "pay me money to get money you already own" scam, odds are very small they'll pay you anyways.
Just avoid giving them any extra loot... Really, even if it's only $5, for you it'll be the difference between losing $7000 and $7005.

If you want to protect the community and hurt the scammer, you should probably file a police report and open a scam report in the scam section in this forum (if you have any proof, like screenshots from the conversation). Bad reviews on review sites might also be a good idear....
These things probably won't get you your money back, but it'll protect others from falling into the same trap AND hurt the scammers in the meantime...

[marksanchez5544]

That's the thing, if it was 5 or 10 dollars to verify, not a problem, but .01 btc a few weeks back was around 500 dollars, today it's much less, but just to verify an account, it should be say .00001 to verify.

[mocacinno]

That's the thing, if it was 5 or 10 dollars to verify, not a problem, but .01 btc a few weeks back was around 500 dollars, today it's much less, but just to verify an account, it should be say .00001 to verify.

no, if it was $5, they'd just steal the extra $5.
I know it might feel tempting to pay "only" $5, but you have to remember that those $7000 are already lost. It's as simple as that. If a person starts the oldest scam attempt in the book ,the $7000 is already gone forever. The only thing you'd be doing is giving them another $5 out of your pocket.

Really, you should open a police report and open a scam accusation in the correct subforum, tell us the url of the site  that scammed you (or their facebook, twitter, telegram, whatsapp,...) and provide screenshots. If we know the url, and see the actual text written, we can conclusively categorise this as a scam (eventough i'm actually pretty sure it is one, like >99%)
But the bottom line remains that, in your mind, the $7000 should be written off. It's painfull, but that money is already gone. Everything you give them now is extra net loss for you.
I have seen dozens and dozens of these cases over the years, the modus operandi is always the same (and it's exactly what's happening to you). And in those years i have seen nobody actually getting their money.

[NeuroticFish]

"To verify your (external) address with your account, you need to make a deposit from this address."

Verifying the ownership of an address can easily be done for free, by signing a message with the key of that address.
Even more, they should not care if it's your address or not.

On the other hand, as already said, it's a common practice of scammers to ask money - for whatever reasons - to transfer you some alleged funds (that don't exist and you'll never get).

[witcher_sense]

I have around 7000 dollars to withdraw, everything points to a scam, surely if they want to verify an address as the other guy above said, I could just deposit a really small amount for withdrawal etc, and the fact they are being vague about how to send and receive on same address, which there does not seem to be much info on how to do this.

The do not offer any links to info pages in how to do this, or suggest any wallets with this feature, except saying coinbase and blockchain has this feature, which I cannot find.

You should have read their terms and conditions page before creating an account and depositing your funds because it clearly states you can withdraw your funds only after you confirm the ownership of an address to which you want to send coins.

7.2 Withdrawal of funds is carried out from the cryptocurrency wallets of our exchange to other cryptocurrency wallets, which are not part of our exchange and are in operation of other payment systems after the procedures of confirming the ownership of the corresponding cryptocurrency wallet from the corresponding user About the right of ownership and synchronization of our exchange with the cryptocurrency wallet to which the User wants to withdraw funds.

That they didn't mention in their ToC what that process of confirmation consists of may seem very suspicious, but that they require you to make a deposit before you can withdraw is a clear indication of a scam. After all, there are other ways to prove ownership without prior sending any coins. For example, they could have asked you to sign a message with a private key corresponding to that address.

[Flexystar]

But how it is done?
If I’m spending the money on my own address then doesn’t it create loop hole on the nodes? Like miners will pick the seeding address, will start the confirmation of output and again embed the transaction within same address. Does that trick the system ?

Like we see thousands of confirmation when transaction is initiated from one address to another. This gives out free like structure ahead and shows how they got confirmed over the time. But sending within the same address, does it go in a loop.

[mocacinno]

But how it is done?
If I’m spending the money on my own address then doesn’t it create loop hole on the nodes? Like miners will pick the seeding address, will start the confirmation of output and again embed the transaction within same address. Does that trick the system ?

Like we see thousands of confirmation when transaction is initiated from one address to another. This gives out free like structure ahead and shows how they got confirmed over the time. But sending within the same address, does it go in a loop.

No, it does not go into a loop.
That's just not how it works.

A transaction has inputs and outputs. An output can fund your address. You can use said output as an input for a new transaction that also funds your address.