Anonymity is no longer a benefit of gambling with cryptocurrency. - page 7.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: Outhue on August 12, 2023, 02:03:10 AM

The right method with KYC verification is to use your identity on trusted online casino, this is safer compared to casinos that have bad reputation, so do some research at first before passing KYC on any gambling platform.

That is what we should do if we want to do KYC because by choosing KYC at a trusted online casino, our data will be safe from bad things that can happen and not be used for other things or misused. We have to make sure to do KYC at a trusted casino so that we are also calm about providing personal data.

And avoid being easily attracted by offers from casinos that say that they can get more bonuses by doing KYC at the casino. We don't know how the casino is and only by finding out more details can we do.

And if you don't want to do KYC to play gambling, you should look for other casinos that don't apply KYC to their users. Or you also don't need to play gambling if you feel uncomfortable implementing KYC for gambling users.

slapper

legendary

Activity: 1946

Merit: 1100

Leading Crypto Sports Betting & Casino Platform

Quote from: Outhue on August 12, 2023, 02:03:10 AM

Quote from: goinmerry on August 11, 2023, 10:32:50 PM

Quote from: poodle63 on August 11, 2023, 06:53:27 PM

The main purpose for KYC to decrease money laundering. It has no other purpose than it. Don't expect casino to use your identity. The casino just wanna see people play spending their money as much as possible in the game provided by that casino itself.

Whatever the reason for KYC, I have to agree with you on the part that the casino will not use our identity for something inappropriate especially if we talked about a reputable and popular casino. These casinos are prioritizing all the things they needed to comply as part of being a legitimate site. There is no way these casinos will take advantage of any KYC-related stuff.

Adding to that, the casinos even want more users to welcome on their platform that's why as much as possible they don't want to give their users a hassle way of registering accounts and asking a bunch of identity-related things. But since the verification process is part of the regulation, they have no choice but to follow.

Fortunately, there are still lots of crypto-gambling sites that do not mandate KYC so better enjoy those while it lasts.

KYC information for illegal activities is old school now, if KYC theft can cause a big damage we would have heard about bad news from every angle and the warning of taking KYC information very seriously would have filled everywhere including the News channel on TV, I don't believe that criminals can use any KYC theft to fake identity without knowing that's fake by the authority, the world is advancing in technology, even criminals that undergo face surgery to evade getting caught still end up getting apprehended.

The right method with KYC verification is to use your identity on trusted online casino, this is safer compared to casinos that have bad reputation, so do some research at first before passing KYC on any gambling platform.

I mean, it doesn't necessarily mean that KYC theft isn't occurring just because you aren't hearing about it on the news all day. You know, not everything negative makes headlines. After all, you hear about major celebrities getting into trouble, not every Tom, Dick, or Harry

Yes, technology is advancing, but thieves are also getting more sophisticated. What is meant by "deepfakes"? Very strange things. Not every stolen KYC makes headlines

I do agree with you regarding the casino part, though. Really, you should roll the dice somewhere legitimate if you have to do it online. DYOR and be careful

piebeyb

legendary

Activity: 2464

Merit: 1039

Bitcoin Trader

Quote from: Outhue on August 12, 2023, 02:03:10 AM

The right method with KYC verification is to use your identity on trusted online casino, this is safer compared to casinos that have bad reputation, so do some research at first before passing KYC on any gambling platform.

Yes, that's what you should do, never make big deposits and play with big bets so you get big wins on small or new gambling platforms, because usually they will make it difficult for users with KYC, but if you play with community recommendations and are trusted on this forum, I'm sure everything will be safe, don't hesitate to ask this forum to do research and find the best platform.

I'm sure all the community will suggest the best platform where users don't have to provide identity and complete KYC for some reason so they won't be bothered with KYC problems, that's why asking the forum community is highly recommended considering we may have experience gambling on several platforms so we know how. services and regulatory systems used. anyone should do some research before gambling and it is very important

Outhue

sr. member

Activity: 686

Merit: 403

Quote from: goinmerry on August 11, 2023, 10:32:50 PM

Quote from: poodle63 on August 11, 2023, 06:53:27 PM

The main purpose for KYC to decrease money laundering. It has no other purpose than it. Don't expect casino to use your identity. The casino just wanna see people play spending their money as much as possible in the game provided by that casino itself.

Whatever the reason for KYC, I have to agree with you on the part that the casino will not use our identity for something inappropriate especially if we talked about a reputable and popular casino. These casinos are prioritizing all the things they needed to comply as part of being a legitimate site. There is no way these casinos will take advantage of any KYC-related stuff.

Adding to that, the casinos even want more users to welcome on their platform that's why as much as possible they don't want to give their users a hassle way of registering accounts and asking a bunch of identity-related things. But since the verification process is part of the regulation, they have no choice but to follow.

Fortunately, there are still lots of crypto-gambling sites that do not mandate KYC so better enjoy those while it lasts.

KYC information for illegal activities is old school now, if KYC theft can cause a big damage we would have heard about bad news from every angle and the warning of taking KYC information very seriously would have filled everywhere including the News channel on TV, I don't believe that criminals can use any KYC theft to fake identity without knowing that's fake by the authority, the world is advancing in technology, even criminals that undergo face surgery to evade getting caught still end up getting apprehended.

The right method with KYC verification is to use your identity on trusted online casino, this is safer compared to casinos that have bad reputation, so do some research at first before passing KYC on any gambling platform.

blockman

hero member

Activity: 3066

Merit: 629

Vave.com - Crypto Casino

Quote from: Alphie12 on August 11, 2023, 08:56:31 PM

This isn't true. All the casinos have a license. Some just use the license to steal money from us.

While what you've said is true but there are actual casinos that don't have the license to operate and yet they still operate. They're only going to work on it when some folks noticed that and demands them to have.

Quote from: Alphie12 on August 11, 2023, 08:56:31 PM

No one of the forums has ever been caught money laundering so people should stop using the AML excuse.

Well, there have been in the past that some gamblers do complained that they've been locked with their balances. Not knowingly, when the casino that they're complaining about responded, some tend to actually do it. But these days, I doubt it that most casinos will give full disclosure of reasons like that.

jostorres

hero member

Activity: 2562

Merit: 586

Quote from: Haunebu on August 07, 2023, 01:13:31 PM

There are still a couple of casinos that don't require any form of KYC and only enforce it when dealing with big amounts or when they find something suspicious. Examples are Crypto.Games, Bitcasino, Fairlay etc.

Silver lining here is that non-KYC casinos will always exist though they will almost always be less popular when compared to KYC casinos.

You can't call them non-KYC casinos if they will ask for KYC verification when someone tries to deposit or withdraw a big amount, or if they find something suspicious. A non-KYC casino by definition is a casino that doesn't ask for KYC verification at all, if you are requesting a big withdrawal, they might take some time to process it, but they wouldn't ask you to provide some identity for it to proceed further, that is what you would call a non-KYC casino.

If we consider that being non-KYC casinos, I believe a lot of casinos don't ask you for identify verification when you are depositing $50 and withdrawing $100 after completing the wagering requirements and everything, but when the amounts start to get big, that's when they prompt the verification process.

Rating Place

legendary

Activity: 3878

Merit: 1061

Quote from: goinmerry on August 11, 2023, 10:32:50 PM

Quote from: poodle63 on August 11, 2023, 06:53:27 PM

The main purpose for KYC to decrease money laundering. It has no other purpose than it. Don't expect casino to use your identity. The casino just wanna see people play spending their money as much as possible in the game provided by that casino itself.

Whatever the reason for KYC, I have to agree with you on the part that the casino will not use our identity for something inappropriate especially if we talked about a reputable and popular casino. These casinos are prioritizing all the things they needed to comply as part of being a legitimate site. There is no way these casinos will take advantage of any KYC-related stuff.

Adding to that, the casinos even want more users to welcome on their platform that's why as much as possible they don't want to give their users a hassle way of registering accounts and asking a bunch of identity-related things. But since the verification process is part of the regulation, they have no choice but to follow.

Fortunately, there are still lots of crypto-gambling sites that do not mandate KYC so better enjoy those while it lasts.

The information isn't safe because employees sell the databases with the customer information. With fiat books, there is full KYC and it happens quite often. The bigger the casino, the more the database is worth. I know of some that were being sold for $20k. Most casinos are located in Curacao and that's more than the average yearly salary in Curacao. Inside jobs will happen.

goinmerry

legendary

Activity: 2940

Merit: 1083

Quote from: poodle63 on August 11, 2023, 06:53:27 PM

The main purpose for KYC to decrease money laundering. It has no other purpose than it. Don't expect casino to use your identity. The casino just wanna see people play spending their money as much as possible in the game provided by that casino itself.

Whatever the reason for KYC, I have to agree with you on the part that the casino will not use our identity for something inappropriate especially if we talked about a reputable and popular casino. These casinos are prioritizing all the things they needed to comply as part of being a legitimate site. There is no way these casinos will take advantage of any KYC-related stuff.

Adding to that, the casinos even want more users to welcome on their platform that's why as much as possible they don't want to give their users a hassle way of registering accounts and asking a bunch of identity-related things. But since the verification process is part of the regulation, they have no choice but to follow.

Fortunately, there are still lots of crypto-gambling sites that do not mandate KYC so better enjoy those while it lasts.

Alphie12

jr. member

Activity: 131

Merit: 2

Quote from: Crypto Library on August 11, 2023, 06:30:50 PM

Quote from: Oshosondy on August 04, 2023, 02:34:23 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.

It is natural for centralized platforms to do KYC for high quality money transactions because if kyc system is not kept here then many people can use them to complete heinous activities like money laundering and for this reason kyc is made mandatory on every licensed sites. And sites that don't require kyc are mostly unlicensed sites. so how can you trust those sites that they won't cheat you when you trade high quality money and win huge jackpots. So definitely anonymity in gambling sites will keep you in a limitation where you won't be able to win high quality money.

This isn't true. All the casinos have a license. Some just use the license to steal money from us. No one of the forums has ever been caught money laundering so people should stop using the AML excuse.

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

Quote from: noormcs5 on August 11, 2023, 09:54:51 AM

I prefer that casino do not ask for our KYC but usually this cannot be implemented in a real world because the casinos have to abide by the rules and regulations of the governing authorities and if they do not enforce KYC, these agencies will not allow them to run these casinos. We have to live with this.

However, Anonymity is a really good thing but unfortunately at present times when we have centralized gambling platforms, this seems impossible to remain anonymous.

Our KYC is not tha timportant for casino but the main problem since they have been getting licensed by the regulators and the platform must follow what already ordered by the regulators. This is something that can't be avoided.

Your platform already listed as a legal platform and do you wanna see your platform listed as illegal platform for now follow regulartor's order?

The main purpose for KYC to decrease money laundering. It has no other purpose than it. Don't expect casino to use your identity. The casino just wanna see people play spending their money as much as possible in the game provided by that casino itself.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

Well, yes and no.
If you are playing just to have fun in casinos and won't far where your money could hit the anti-money laundering act then you are safe, you won't need a KYC, just the email will do. Now, if you are taking it further by betting high amounts then you should start thinking about it because casinos would definitely act so that they won't be the one targeted by government officials. They need to abide by the rules of a business especially in the financial district. They cannot just let people gamble money while they are unknown. It's actually not different from trading and investing. You cannot buy loads of Bitcoin today and remain anonymous especially if you buying at a known exchange. They always use KYC even at small amounts of purchases.

Crypto Library

hero member

Activity: 1036

Merit: 933

Find your Digital Services at- cryptolibrary.pro

Quote from: Oshosondy on August 04, 2023, 02:34:23 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.

It is natural for centralized platforms to do KYC for high quality money transactions because if kyc system is not kept here then many people can use them to complete heinous activities like money laundering and for this reason kyc is made mandatory on every licensed sites. And sites that don't require kyc are mostly unlicensed sites. so how can you trust those sites that they won't cheat you when you trade high quality money and win huge jackpots. So definitely anonymity in gambling sites will keep you in a limitation where you won't be able to win high quality money.

khaled0111

legendary

Activity: 2702

Merit: 3045

Top Crypto Casino

Quote from: Peanutswar on August 11, 2023, 08:16:16 AM

The essence of cryptocurrency is being secured and anonymity. .

This is a common misconception. The main advantage of cryptocurrencies (most of them at least) is not being anonymous but being a trustless payment method. Bitcoin, the leading crypto, is not anonymous, it's pseudonymous.

Quote from: Coin_trader on August 11, 2023, 09:30:24 AM

IIRC the main reason why this centralized services aims to get licensed to operate legally is because they are accepting fiat as currency to their service which makes them legally obligated to follow the government law in regards with fiat AML.
..

This is not correct. It doesn't matter whether the casino accepts fiat or not. As long as it's a licensed business they need to comply with regulations. Even pure crypto casinos, if licensed, they need to enforce kyc.

danadc

sr. member

Activity: 1092

Merit: 342

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Docnaster on August 11, 2023, 01:40:20 PM

Quote from: Peanutswar on August 11, 2023, 08:16:16 AM

The essence of cryptocurrency is being secured and anonymity. With the centralized platform, the players do not have any more rights because upon creating an account, they agree with the terms and conditions that there's the information needed for them to proceed to make a gamble, be entertained, and more. Some casinos offer a non-KYC or at least a level 1 KYC etc, which requires an email and phone number for part of the verification for account recoveries. The essence of being anonymous might not as we expect. Some trouble with accounts now requires a higher level of KYC that makes the player more expose with the data privacy.

As you rightly said, level 1 kyc might not be a threat to the anonymity of a gambler
Anyone can use a throw away phone number and email that is not related to their identity to open an account and complete a level one kyc on the casino website. Where the major problem lies is when someone is expected to begin submit their document and scan their faces in order to be able to withdraw their funds in a casino that has initially promised to be a non kyc casino.

The way I see things, if I see anything that asks for documents as a threat to Anonymity, if you give your ID or your cell phone , passport , they will know who you are, and they also know what they do, where you live, that is enough for anything, not just for hackers and criminals , but for keeping track of people who always have casino records and know they have crypto , which makes governments an easy target to pay taxes on, and having different ways of being able to have them in a system where the yoke will always be there, that's what I don't like about a kyc because the governments take advantage of that, you don't know when they will take something from you or ask for something.

serjent05

legendary

Activity: 3010

Merit: 1280

Get $2100 deposit bonuses & 60 FS

Quote from: Coin_trader on August 11, 2023, 09:30:24 AM

Quote from: Dr.Bitcoin_Strange on August 11, 2023, 09:23:48 AM

Although most of the platforms that don't require KYC are still legit, some of them are not, because most of these centralised platforms always get an issued certificate of operation, which enables them to carry on their business successfully in a country, and before they are offered the operation permit, they have to agree to abide by the terms of the government. So, some of the non-KYC platforms might not have really registered their businesses; as such, they are operating illegally, and if one is using such a platform that is operating illegally, you still have to be afraid and conscious of your money because if the platform collapses or gets caught by the government, they could be charged and all the funds of customers will be frozen. While some platforms also have KYC, they don't just make it compulsory until they have any reason to do so; then they can free the victim's account and ask the person to pass KYC.

You’re right on your take regarding the reason behind centralized services requiring KYC. IIRC the main reason why this centralized services aims to get licensed to operate legally is because they are accepting fiat as currency to their service which makes them legally obligated to follow the government law in regards with fiat AML.

[/quote]

I agree, since online service is boundless, the centralized casinos will definitely want to take advantage of the limitless potential of an online platform but to acquire it they need to comply on different countries regulation. Also accepting fiat currency also often a new audience for them creating a new set of customers.

Quote from: Coin_trader on August 11, 2023, 09:30:24 AM

Decentralized services such as DeFi and real decentralized casino usually doesn’t need license to operate since crypto currency is not a legal tender or nor regulated on most of the currency. It can be considered as play money only unless the specific country already have a rules on cryptocurrency regulation like US and EU.

Decentralized casino games are too boring because of their existing game were originally created by the developer of the casino. Many centralized casinos aim for the growth of their platform so they need to make their platform more presentable. They tend to acquire third party services that possibly requires a casino license which then triggers the KYC requirement for the players.

Docnaster

hero member

Activity: 1638

Merit: 576

Leading Crypto Sports Betting & Casino Platform

Quote from: Peanutswar on August 11, 2023, 08:16:16 AM

The essence of cryptocurrency is being secured and anonymity. With the centralized platform, the players do not have any more rights because upon creating an account, they agree with the terms and conditions that there's the information needed for them to proceed to make a gamble, be entertained, and more. Some casinos offer a non-KYC or at least a level 1 KYC etc, which requires an email and phone number for part of the verification for account recoveries. The essence of being anonymous might not as we expect. Some trouble with accounts now requires a higher level of KYC that makes the player more expose with the data privacy.

As you rightly said, level 1 kyc might not be a threat to the anonymity of a gambler
Anyone can use a throw away phone number and email that is not related to their identity to open an account and complete a level one kyc on the casino website. Where the major problem lies is when someone is expected to begin submit their document and scan their faces in order to be able to withdraw their funds in a casino that has initially promised to be a non kyc casino.

coolcoinz

legendary

Activity: 2814

Merit: 1192

Quote from: Casdinyard on August 10, 2023, 05:59:24 PM

That's basically the logic behind the implementation of KYC protocols, to deter money launderers, scammers, and every form of malicious actors from using the casino as a way for them to store their ill-gotten funds without getting caught. Virtually everywhere in the cryptocurrency world you can keep your money without getting caught if you're a scammer, but if you want to use it in real life you'd have to run it through an exchange, or convert it to fiat through online casinos, good thing that most of them do these since at the end of the day it stops these people from being able to get a hold of their funds outright. And while it's a flawed system that needs some form of improvement to make sure that it doesn't inconvenience anyone but those that need to be inconvenienced, it's a much needed one.

It's bullshit just as much as statements that CBDCs are going to benefit society because they're completely transparent, that your money is safe in the bank, that inflation should not worry you because it's normal, that money printing is normal, and of course, last but not least, that bitcoin is bad for the environment.

Do you really believe that the reason for KYC is to stop money launderers? How many money launderers are there really in a country? How many of them launder millions of dollars a year? I'd say not many. Why do all people have to lose anonymity because of these few people? Why do we, and by we I mean people like you, because I don't, support collective responsibility? Collective responsibility is a scam and a way for governments to abuse the public.

Dr.Bitcoin_Strange

hero member

Activity: 770

Merit: 538

Leading Crypto Sports Betting & Casino Platform

Quote from: Casdinyard on August 10, 2023, 05:59:24 PM

That's basically the logic behind the implementation of KYC protocols, to deter money launderers, scammers, and every form of malicious actors from using the casino as a way for them to store their ill-gotten funds without getting caught. Virtually everywhere in the cryptocurrency world you can keep your money without getting caught if you're a scammer, but if you want to use it in real life you'd have to run it through an exchange, or convert it to fiat through online casinos, good thing that most of them do these since at the end of the day it stops these people from being able to get a hold of their funds outright. And while it's a flawed system that needs some form of improvement to make sure that it doesn't inconvenience anyone but those that need to be inconvenienced, it's a much needed one.

Yeah, the idea of KYC might not be bad, but it really has a strong disadvantage that can cause harm to customers. mostly those KYC-centralised exchanges where users are carrying out KYC before they trade their crypto asset; perhaps if the government decides to launch an attack on Bitcoin investors, they can really get our details and login IPs from those CEX. Although, for casinos, it is also the gambler's choice to go on KYC or not. Well, in my country, there are more than 6 different online casinos, of which most of them that I use still have KYC compliance, but they don't make it compulsory until there is any need for it, maybe if a flagged bank account or wallet deposit is made to the casino.

Magoo8

newbie

Activity: 85

Merit: 0

Quote from: Distinctin on August 11, 2023, 10:19:56 AM

Quote from: noormcs5 on August 11, 2023, 09:54:51 AM

Quote from: so98nn on August 11, 2023, 09:40:25 AM

I don't think there is anything wrong with that thought. If casinos are doing the KYC then they are abiding by their jurisdiction. Secondly, if they are doing the KYC then they are also making client-user contracts and it becomes one sort of evidence that we are registered on that casino, we have our cashier account too. As we move with time and make transactions they are getting recorded against our KYC so it's solid proof. Now, you never know when this proof will become an important thing in your life if somehow they do a scam of some type. This could be a lifesaver. I have seen peeps fighting for their life when some casinos ask for the KYC because if they have surpassed certain limits of transaction/winnings.

If that is the case then I hardly think the anonymous nature in a casino matters. I can understand when it comes to the physical one, but when it's an online casino, you have to be very cautious.

I prefer that casino do not ask for our KYC but usually this cannot be implemented in a real world because the casinos have to abide by the rules and regulations of the governing authorities and if they do not enforce KYC, these agencies will not allow them to run these casinos. We have to live with this.

However, Anonymity is a really good thing but unfortunately at present times when we have centralized gambling platforms, this seems impossible to remain anonymous.

The issue here is not whether a gambling site is centralized or not, as it cannot be argued that centralized casinos have been dominating the industry. The difference lies in the type of currency. For us crypto enthusiasts, we prefer gambling using crypto.

Speaking about centralized casinos automatically implies regulation; hence, KYC is required as a basic requirement. However, there are still gambling sites that do not implement it for all of their clients. This is something we can take advantage of if we are looking to gamble anonymously.

Your posts sums it up nicely since KYC isn't necessary at all casinos. We like cryptos so that we have a choice to cut out a third party. We like no KYC casinos since it does cut out that middle layer. It's our choice to play at casinos with or without KYC. Almost all casinos that go out of business have a license with a KYC clause so we aren't protected by having to go through KYC.

Blitzboy

hero member

Activity: 1316

Merit: 561

Leading Crypto Sports Betting & Casino Platform

Quote from: so98nn on August 11, 2023, 09:40:25 AM

I don't think there is anything wrong with that thought. If casinos are doing the KYC then they are abiding by their jurisdiction. Secondly, if they are doing the KYC then they are also making client-user contracts and it becomes one sort of evidence that we are registered on that casino, we have our cashier account too. As we move with time and make transactions they are getting recorded against our KYC so it's solid proof. Now, you never know when this proof will become an important thing in your life if somehow they do a scam of some type. This could be a lifesaver. I have seen peeps fighting for their life when some casinos ask for the KYC because if they have surpassed certain limits of transaction/winnings.

If that is the case then I hardly think the anonymous nature in a casino matters. I can understand when it comes to the physical one, but when it's an online casino, you have to be very cautious.

Look, KYC is a complete waste of time and rubbish. The real kicker, though, is that it's really necessary, especially for online casinos. You make a valid point when you say that casinos abide by local laws. Scammers abound, and the digital world is full of potential traps. The system as a whole would be significantly more exposed without KYC.

Each time a user registers on one of these sites, their purchases, winnings, and other actions are associated with their identity. You're also right on the money when you say that this proof could be valuable in the event of a hoax. Although anonymity may be in, the trail left by KYC may be the only thing standing between recovering stolen money and saying a heartbreaking farewell.

Casinos online arent like picking candies from a shelf in a store. They could be harmful, complex, and vulnerable to fraud. And even if I despise KYC with all of my heart, I cannot discount its significance in providing a risk-free gambling environment. Therefore, dream on, those who believe they may gamble online anonymously!

Topic: Anonymity is no longer a benefit of gambling with cryptocurrency. - page 7. (Read 1841 times)