Casinos are now centralized just like CEX at some point they will definitely ask for verification of your identity for what they need.
Although there are still many casinos that do not apply KYC at the beginning, but when a user has a problem in the account with his balance/withdrawal/bet, it is likely that the casino will ask you for verification and it can be said that crypto gambling has clearly no anonymity anymore, but while there are still casinos that do not apply KYC then use those casinos.
Casinos now have rules and it is licensed under the government so the law must be subject to it, so don't be surprised everything will definitely happen.
Topic: Anonymity is no longer a benefit of gambling with cryptocurrency. - page 17. (Read 1740 times)
August 04, 2023, 04:11:47 PM
August 04, 2023, 04:02:25 PM
Am i wrong to think that this information on the internet needs to be updated.
You are correct in your assumptions before, we only need a bitcoin address to withdraw our funds and gambling platform doesn't know us because there are no KYC or any other information that mandated from us.
In the first place, are crypto gambling casinos suppose to be licensed? I don't think they should. Licencing means that it is regulated and monitored so requirements have to be set to meet up to the rules and such requirement is request for customer's identify. Unfortunately, gamblers are providing those information and more cex casinos are joining the business. The whole story is that government is putting an eyes on the unmasking of those playing in casinos.
August 04, 2023, 04:02:04 PM
Because of KYC verification which is now done by most crypto casino to know the people who gamble on their casino, I think anonymity is no longer a benefit of gambling with cryptocurrency in crypto casino.
Am i wrong to think that this information on the internet needs to be updated.
Most crypto gambling sites now are much more centralized than decentralized. I think the only decentralized component of gambling platforms today are only the cryptocurrency tokens/coins (BTC/ETH) itself and not the platform. Since most of them have acquired gambling licenses, they are obliged to operate within the fine lines of regulation. This wasn't an issue in the past but regulatory pressure has almost 10x in the last 5-10 years since Crypto became a household name in the finance and industry.
Till we have full-fledged gambling platforms running new zero knowledge proof blockchain that comes with added privacy (the platform has to be on chain), anonymity in gambling with crypto is a thing of the pass.
If we have a fully decentralized gambling platform that supports privacy and anonymity, how do they get licensed without a centralized gambling license outfit?
August 04, 2023, 03:59:06 PM
Because of KYC verification which is now done by most crypto casino to know the people who gamble on their casino, I think anonymity is no longer a benefit of gambling with cryptocurrency in crypto casino.
Am i wrong to think that this information on the internet needs to be updated.
needed up for some licenses or simply people do trust to those who do have licenses which means that they would really be needing on getting in lined with governments rules and conditions on which it would really be resulting for you to abide government rules and terms on the time that you would really be getting your permit or licenses or whatsoever which means that anonymity would really be totally that not that possible.
So far most casinos now or crypto ones arent really that asking for some infront KYC or on the time that you would be playing on which it is really that still standard but it would sucks on the time
that they would asking out on the time that you wo make out some withdrawal.
Even on exchange platforms now which it turns out to be shit now which anonymity is really that slowly changing into kyc zone on which leaving you no choice but to deal something with it.
August 04, 2023, 03:47:22 PM
Am i wrong to think that this information on the internet needs to be updated.
You are correct in your assumptions before, we only need a bitcoin address to withdraw our funds and gambling platform doesn't know us because there are no KYC or any other information that mandated from us.
However, when crypto started to become notice by the public, it also caught the attention of regulators. Now they mandated every services, like crypto exchanges and gambling platform to have KYC so that they can track everything because they know that crypto can be taken advantage of anyone to hide their identifies and could be used by criminals (which is not always the case, but this the one valid reasons that they always used).
August 04, 2023, 03:39:36 PM
While KYC is a massive killer to anonymity in Crypto, it's a much-needed one in my opinion. People have been very lenient and belligerent with how they can get away with stealing and robbing people of their tokens in the past since everything is virtually anonymous and untraceable, at the very least with KYC you now have a lead to where your stolen stuff might lead to. Although i'm a little disappointed at how underutilized this feature is and in most cases casinos only ever use this to verify that you're a real person, sometimes even taking it a step too far and using your info to sell to ad agencies for profit.
KYC isn't a bad thing, it's the way that these casinos implemented and imposed it that's putting it in a bad light. Hopefully with the introduction of this anonymous feature we see a new mechanism where KYC can be utilized in its full efficacy.
KYC isn't a bad thing, it's the way that these casinos implemented and imposed it that's putting it in a bad light. Hopefully with the introduction of this anonymous feature we see a new mechanism where KYC can be utilized in its full efficacy.
August 04, 2023, 03:34:23 PM
You are not wrong, but there are still casinos that requires no KYC, more of them will later request there customers for KYC verification. Nearly all the crypto gambling sites of today are centralized. Although some are claiming to be web3 which you can connect your noncustodial wallet to, which are not centralized. But as for centralized gambling sites, we should not think of them as no KYC gambling sites, there are still few that require no KYC though for low amount withdrawal.
August 04, 2023, 03:25:39 PM
I was reading and I saw something that I would have agreed with before, but not anymore because of how much things have changed in the crypto gambling.
https://indiacsr.in/what-is-a-crypto-casino-meaning-advantages-and-potential-risks-explained/
Because of KYC verification which is now done by most crypto casino to know the people who gamble on their casino, I think anonymity is no longer a benefit of gambling with cryptocurrency in crypto casino.
Am i wrong to think that this information on the internet needs to be updated.
Quote
Faster and more secure transactions: Crypto transactions are processed much faster than traditional bank transfers, and they are also more secure.
Anonymity: Crypto casinos allow players to remain anonymous, which is appealing to some players.
Wider variety of games: Crypto casinos offer a wider variety of games than traditional online casinos.
More generous bonuses: Crypto casinos often offer more generous bonuses than traditional online casinos.
Anonymity: Crypto casinos allow players to remain anonymous, which is appealing to some players.
Wider variety of games: Crypto casinos offer a wider variety of games than traditional online casinos.
More generous bonuses: Crypto casinos often offer more generous bonuses than traditional online casinos.
https://indiacsr.in/what-is-a-crypto-casino-meaning-advantages-and-potential-risks-explained/
Because of KYC verification which is now done by most crypto casino to know the people who gamble on their casino, I think anonymity is no longer a benefit of gambling with cryptocurrency in crypto casino.
Am i wrong to think that this information on the internet needs to be updated.
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