So this guy on instagram claims he's a bitcoin miner, and has a lot of money in his bitcoin wallet. He says he needs the username and password to my banking account to make deposits because he can't make withdraws outside of the U.S & Canada. He also claims that he will be making daily deposits of $2500.00 which I will keep 30% of and send the rest back. When I asked how I will send his money to him, first he said through Money Gram(MG), then when I asked him again he said MG won't be necessary since he wants steam cards. I didn't go through with it yet because I don't want to give him my login information. Am I being ripped off?
This is absolutely, 100% a scam. You are being recruited to be a money mule. Stop dealing with this person immediately. For one thing, your username and password are not needed to deposit funds.
At least part of the scam is probably this: The scammer has bought passwords to bank accounts that have been stolen with malware. He will use those credentials to transfer stolen funds to your account and you will launder the funds for him. Eventually, the people whose accounts were hacked will complain to their banks and police and the payments will be reversed. You will wind up owing the bank a lot of money, the scammer will disappear, and you will have a very bad time.
This may not be the exact scam, but it's 100% definitely a scam one way or another.