BLOCKCHAIN account- Newbie - how to get one?

[Stalker22]

Coinbase is out then?  because of it being casino funds.  BUT...WHY - ( Is this really an issue..that even though this is now my legit monies  it's still suspect because came from a casino? ..isnt it just a series of numbers now? )

Let me try to explain this. For the majority of bitcoiners, a bitcoin is a bitcoin regardless of its origin, unless it was obtained through illegal means such as the black market or hacking. However, centralized services like exchanges may have their own policies in place, including requirements for identity verification and proof of funds, which may include compliance with local laws and regulations based on the country in which the exchange is registered. Like most other centralized exchanges, Coinbase is regulated and licensed to operate as a money transmitter in various jurisdictions, including the U.S. and Europe. As such, they are required to verify the identities of their customers and may request identification documents or other information. If you want to trade bitcoin on these exchanges, you must follow their rules. (It is essential to carefully review their terms of use before using these services.)

( i must refrain from replying all the time , sorry for doing so, but one email reply leads to another...even your reply of,. protects being scammed etc,  and built in enscrow.   Can i not just sign up HodleHodle, type in my bank details...click a few buttons, send..£100 bitcoins...and receive into my bank account £100. simple as that? )

I am not familiar with HodlHodl, as I have never used them. I usually use a local exchange to transfer fiat to my bank account. If I need cash without too much hassle, I just find someone in my area who wants to trade in person and we meet up at a coffee shop or other public place to complete the trade. Is that something that you could do as well? Since a few hundred pounds is not a large amount, it should not be difficult for you to find a buyer in your local area. Have you tried posting on your local board on this forum? If you are willing to disclose your approximate location, that could be a good place to start. If you prefer complete anonymity, you could also consider using a Bitcoin ATM. There are many options available for selling bitcoin, as it has been around for over a decade and has spread to virtually every part of the world.

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[Marvelman]

ACTUALLY, thinking about it, surely it would make more trusted sense to go with Coinbase / where you need KYC...because thats more trusting isnt it.

Using a platform that requires KYC procedures, like Coinbase, can be seen as more trustworthy because it means that the platform is following regulations and has a verified process for verifying the identity of its users. However, this may not be true for all platforms. For example, Binance or KuCoin have been known to operate without KYC procedures for smaller deposit amounts and still have a large user base. In fact, Binance is one of the most popular exchanges in the world. On the other hand, there were some fully regulated exchanges, such as the infamous FTX Exchange, that have gone out of business due to poor security and a lack of transparency in their operations.

[o_e_l_e_o]

SO, escrow - but HodlHodl has it built in - this is very confusing..how am I meant to know all this and what to pick.

You're not expected to know all this. Take your time and read reputable sources of information (not YouTube) before you decide how to proceed. There is no rush.

Coinbase is out then?  because of it being casino funds.  BUT...WHY - ( Is this really an issue..that even though this is now my legit monies  it's still suspect because came from a casino? ..isnt it just a series of numbers now? )

Because everything is public as I said above, Coinbase can look at your coins and see where they came from. And because Coinbase maliciously decide that bitcoin which come from a casino are somehow "tainted", then you may run in to problems if you try to use them.

I say the bank doesnt deal with bitcoin..im likley mistaken, its a highstreet bank and perhaps just meaning some transactions etc..

Banks which say they don't deal with bitcoin usually mean they will not send or receive money from known bitcoin services, such as Coinbase or Binance. As I said above, they do not know if you sold bitcoin to another person based on simply receiving a bank transfer from another individual's account, unless the individual labels it as such.

ACTUALLY, thinking about it, surely it would make more trusted sense to go with Coinbase / where you need KYC...because thats more trusting isnt it.

It's up to you, but I strongly advise everyone to avoid centralized exchanges like Coinbase. Handing your personal information and KYC documents to a complete stranger is never safe, and as above, they may decide simply to freeze your account with your coins inside because your coins came from a casino.

[RobbyN789]

Thank you all for explaining.

Must say i do not like the idea of meeting re bitcoin / shame i cannot see a bitcoing atm..now that would be great.

I wont keep emailing - famous last words - i only have a small amount, and i do want this amount into my bank account.

SO - i joined HodlHodle - aware one at least has said has no experience of it but,  ..and im really hoping here..this is all very straightforward..a..little trusting perhaps...but such a low amount really..

HodlHodl,

To SELL,

CURRENCY -  so...whart is it...mine was Euro from casino..now its all numbers....but...do i put down euro?

PAYMENT METHOD - well thats a biggie...long list....i see a couple of banks there TSL i think...but didnt see mine....so....which do i pick?

AMOUNT  - states BNB   ( so...i want sell around 200euro )


SO......what do i type in....and then....i press the button..and someone will decide to accept? ( see if they have a good history etc ( watch a little on youtube )....and...thats it. A few clicks, agree trade etc,  bobs your uncles I have cash into my bank account?

( i havent put in my bank details? )


So..Im guessing..its not the simple? or..is it?

[hosseinimr93]

CURRENCY -  so...whart is it...mine was Euro from casino..now its all numbers....but...do i put down euro?

Forget about the casino. You withdrew bitcoin, not fiat. Now you have bitcoin and you can sell it for any currency you want.

AMOUNT  - states BNB   ( so...i want sell around 200euro )

Isn't the currency set to BNB?
As said, you should change the "Currency" to the currency you want change your bitcoin to.

[o_e_l_e_o]

Before you create an offer, search for existing offers from other people looking to buy bitcoin. You will probably do better picking an already existing offer from a reputable trader, as opposed to a brand new account posting an offer with no trading history.

CURRENCY -  so...whart is it...mine was Euro from casino..now its all numbers....but...do i put down euro?

The first box in HodlHodl is the price you want to sell at. You an either choose an exact number (e.g. I want to sell at a rate of 16,000 EUR per BTC), or you can choose to fix your rate to the current market price (e.g. I want to sell at the current price per EUR on Binance, + 1%).

You then set your contract limits - how small or large a trade you would be willing to accept.

PAYMENT METHOD - well thats a biggie...long list....i see a couple of banks there TSL i think...but didnt see mine....so....which do i pick?

If you are dealing in EUR, then I assume you would pick European SEPA transfers, but I can't confirm.

AMOUNT  - states BNB   ( so...i want sell around 200euro )

The currency for the amount will be the same currency as however you have priced what you want to sell in the first box. If you price it in EUR, then you will choose an amount in EUR, and not in BNB (which is another altcoin you want nothing to do with).

( i havent put in my bank details? )

Once you confirm your payment method as a bank transfer, you should put your bank details in to the "Payment details" box. There will be a question mark symbol next to these boxes you can click on to get more info. You can also get more info about the whole process here: https://hodlhodl.com/pages/faq#what_does_offer_mean

[RobbyN789]

I know you are being more than helpful, thank you for that, but it is still very confusing. I want to keep it very straightforward, ive decided i just want rid of it, as this currancy isnt for me ( i will not be using that casino again )

I dont know what currancy is it, i know they the casino is in euro ..and i want UK pounds into my bank account.

As for trader and exact price want to sell...im not that bothered really, happy to pay a small fee for the current rate of exchange. All this contracts limits...really is confusing ..do i have to do all that. 

If your saying, Euro, then i will pick SEPA Transfers then..and ...assume..the bank transfers it automatically into my bank account into pounds.

Ok,  bank transfer I pick.  Ok, got it I will look for that.

Hosse -you mentioned - BNB - and to change to whatever currency...well like say, it 'was' Euro on the site...i want pounds...but, will assume i keep it too euro and let the 'bank' automatically work it out...right.

[o_e_l_e_o]

I dont know what currancy is it, i know they the casino is in euro ..and i want UK pounds into my bank account.

The currency you have is bitcoin. There is no "euro bitcoin" or "pound bitcoin". There is just bitcoin. If you want to sell bitcoin for GBP, then you should select that you want to receive GBP.

If your saying, Euro, then i will pick SEPA Transfers then..and ...assume..the bank transfers it automatically into my bank account into pounds.

I have absolutely no idea how the UK banking system works, but I would be surprised if someone can transfer you EUR and your bank automatically changes it in to GBP. Rather, you would need to trade with someone in the UK who already has a UK bank account. Maybe I'm wrong though.

[Stalker22]

If your saying, Euro, then i will pick SEPA Transfers then..and ...assume..the bank transfers it automatically into my bank account into pounds.

I have absolutely no idea how the UK banking system works, but I would be surprised if someone can transfer you EUR and your bank automatically changes it in to GBP. Rather, you would need to trade with someone in the UK who already has a UK bank account. Maybe I'm wrong though.

SEPA (Single Euro Payments Area) transfers are typically only available within the EU and only for the EURO currency. Since the United Kingdom is no longer a member of the EU, it is important for the OP to confirm with his bank whether SEPA transfers are possible. (I'm just assuming he is from the UK since he mentioned Pounds.)