Binance's position in the current situation is that, as they state, blocking users contradicts the very purpose and meaning of cryptocurrencies, and blocking users concerns only to the extent that sanctions are imposed at this point in time. But they declare that they will adhere to internationally accepted rules and if the sanctions are expanded in the future, they will undoubtedly fulfill them, for the same users who do not belong to the sanctioned countries, I think there is no reason to worry, provided a verified account.
As for transfers from centralized exchanges to gambling platforms, in this case I would prefer to use transfers from my wallet.
Topic: 🎲BetFury.io|💫 Stellar network & XLM 💫|📈BFG farming on BabySwap - page 216. (Read 85117 times)
March 08, 2022, 11:47:45 AM
March 08, 2022, 11:15:10 AM
I have deposit funds coming from Binance to Betfury but have not tried Betfury to Binance I have second thought doing that because of what happened the last time I withdraw from one casino to one local exchange it did not went through and got a notification that they are not accepting funds from gambling and you must state it first before making a deposit, maybe one of this day I will try doing that Betfury to Binance, after reading that discussion.
Many top exchanges (Binance, Kucoin and etc.) are registered offshore. So it's unlikely that they will block deposits from gambling sites. Nevertheless, if you still want to play it safe, then first it's better to withdraw funds from the gambling site to your own wallet and only after that make a transfer to the exchange. At least, I doubt that these exchanges will analyze the transaction history of your address.
March 08, 2022, 02:55:47 AM
snip
But it would be better if we don't use a centralized exchange to send money to the casino because we don't know if they still don't monitor the transaction or they will find out about the transactions we make. Although we can still do that, we should be more careful because exchanges have the ability to check each member's account. I try not to use a centralized exchange to send funds to the casino for that reason just now. But hopefully, the casino still doesn't monitor the transactions we make to the casino. March 07, 2022, 11:12:15 PM
Most of top exchanges doesn't really care with high illicit sources except it's high amount money or you haven't do KYC, while local exchanges is more strict since they proceed manually and offer to convert your coins to fiat.
Though cenntralized exchanges can updating their TOS whatever they like and whenever they want, at least as long as gambling is legal in your country, you're fine.
So far there have been no such applicants. Before the introduction of mandatory KYC on Binance, I freely transferred funds from Betfury.
Caution is probably the main rule here.
March 07, 2022, 09:10:46 PM
Most of top exchanges doesn't really care with high illicit sources except it's high amount money or you haven't do KYC, while local exchanges is more strict since they proceed manually and offer to convert your coins to fiat.
Though cenntralized exchanges can updating their TOS whatever they like and whenever they want, at least as long as gambling is legal in your country, you're fine.
So far there have been no such applicants. Before the introduction of mandatory KYC on Binance, I freely transferred funds from Betfury.
Caution is probably the main rule here.
March 07, 2022, 08:47:58 PM
I wouldn't worry about it. Even though Binance is under close monitoring, I have already withdrawed multiple times (BTC, TRX, USDT, ETH and BNB) from Betfury to Binance without any issues. The amounts I withdrawed were always quite low (from 2 to 50$). Latest withdrawal was some weeks ago.
Most of top exchanges doesn't really care with high illicit sources except it's high amount money or you haven't do KYC, while local exchanges is more strict since they proceed manually and offer to convert your coins to fiat.Though cenntralized exchanges can updating their TOS whatever they like and whenever they want, at least as long as gambling is legal in your country, you're fine.
March 07, 2022, 07:51:28 PM
I have deposit funds coming from Binance to Betfury but have not tried Betfury to Binance I have second thought doing that because of what happened the last time I withdraw from one casino to one local exchange it did not went through and got a notification that they are not accepting funds from gambling and you must state it first before making a deposit, maybe one of this day I will try doing that Betfury to Binance, after reading that discussion.
I wouldn't worry about it. Even though Binance is under close monitoring, I have already withdrawed multiple times (BTC, TRX, USDT, ETH and BNB) from Betfury to Binance without any issues. The amounts I withdrawed were always quite low (from 2 to 50$). Latest withdrawal was some weeks ago.
March 07, 2022, 07:10:29 PM
Just want to share my experience that betfury to binance will not incur any problem.
Though maybe, I am just a small timer and just sending small amount of BTC.
Because it is very convenient now that they have BSC chain even in BTC, so the transaction fee is very small.
So far, sending from betfury to binance, other than BTC, has no problem whatsoever.
The advantage of sending it to binance is that they have BNB Chain as an option because they are the BNB.
Yes, it's very cool. I'm wondering why other platforms can't provide such a variety?
March 07, 2022, 03:51:07 PM
Some exchanges don't allow gambling funds but there is no issue with the binance.
You can send coins from the binance exchange to BetFury.io and similarly you can withdraw the coins to the Binance exchange. If you still have doubt you can read the discussion Sending BTC from Gambling Site to Binance?
I have deposit funds coming from Binance to Betfury but have not tried Betfury to Binance I have second thought doing that because of what happened the last time I withdraw from one casino to one local exchange it did not went through and got a notification that they are not accepting funds from gambling and you must state it first before making a deposit, maybe one of this day I will try doing that Betfury to Binance, after reading that discussion.
Better to be safe than experienced some delays, though it's good to know that there's discussion regarding to this as we can use it as reference once we decided to send our funds between binance and betfury. It's cool since binance have p2p where you can easily cash out your funds directly to your chosen process.
If you also have some time, once you transact it's also nice to share your experienced here.
Just want to share my experience that betfury to binance will not incur any problem.
Though maybe, I am just a small timer and just sending small amount of BTC.
Because it is very convenient now that they have BSC chain even in BTC, so the transaction fee is very small.
So far, sending from betfury to binance, other than BTC, has no problem whatsoever.
The advantage of sending it to binance is that they have BNB Chain as an option because they are the BNB.
March 07, 2022, 02:48:35 PM
The wallet incompatibility is the only issue I can think of, especially for people who use lightweight bitcoin client like Electrum. Betfury uses the "0x" address prefix, which is not recognized by Electrum and could result to a loss of funds if sent by mistake, as Electrum only supports legacy and segwit types of addresses.
While I understand that using BEP20 cuts transaction fees, people should keep in mind that if a platform does not accept BEP20 for deposit/withdrawals, your funds are more likely to be lost. And because of the continuous improvement in various blockchain network, the possibility of people getting confused is one of the reason why they lost money.
This is more in line with many people like me who use binance as a wallet. That means whatever binance offers, you get to use it. This is the way I make my withdrawals and deposits and haven't had a problem in a long time. It is advised against by the way, you should not use an exchange as a wallet, if you have a lot of money that is a risk.While I understand that using BEP20 cuts transaction fees, people should keep in mind that if a platform does not accept BEP20 for deposit/withdrawals, your funds are more likely to be lost. And because of the continuous improvement in various blockchain network, the possibility of people getting confused is one of the reason why they lost money.
For two reasons, first of all it is always said that Binance "may" do something about getting the money from casinos, like keep it from you and make a few double checks and all that, and also the fact "not your keys, not your money" type of deal at the same time. However, I have been doing it so far for many years and had no problems.
March 07, 2022, 02:25:25 PM
Some exchanges don't allow gambling funds but there is no issue with the binance.
You can send coins from the binance exchange to BetFury.io and similarly you can withdraw the coins to the Binance exchange. If you still have doubt you can read the discussion Sending BTC from Gambling Site to Binance?
I have deposit funds coming from Binance to Betfury but have not tried Betfury to Binance I have second thought doing that because of what happened the last time I withdraw from one casino to one local exchange it did not went through and got a notification that they are not accepting funds from gambling and you must state it first before making a deposit, maybe one of this day I will try doing that Betfury to Binance, after reading that discussion.
Better to be safe than experienced some delays, though it's good to know that there's discussion regarding to this as we can use it as reference once we decided to send our funds between binance and betfury. It's cool since binance have p2p where you can easily cash out your funds directly to your chosen process.
If you also have some time, once you transact it's also nice to share your experienced here.
March 07, 2022, 01:33:12 PM
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Will consider making a video if I'm lucky
March 07, 2022, 01:01:35 PM
Binance has no such rule like that. They will not lock your account if your funds came from gambling except if your country don't allow it while you are using the local version of Binance. Binance too will not gonna waste time screen your transaction and verify if its from gambling unless it was order by the government you are residing.
Betfury is a decentralized casino, I doubt that they can determine it easily.
Betfury isn't decentralized. It is entirely custodial. Last time I checked Betfury was consolidating all their BSC tokens into a single wallet and re-using the same address. It would be fairly easy to determine if funds were coming from there with very minimal blockchain analysis.
March 07, 2022, 12:29:08 PM
I think is still on altcoin called BTCB. the address received on betfury is using 0x when depositing bnb chain.
Yeah, those are basically wrapped coins to the network they're on. Both types hold more or less the same value.
This is where the user of such wrapped coins may encounter difficulties that will negate all his efforts to reduce commissions.
Wrapped coins is a rather interesting, but also rather crafty invention of the cryptoindastry.
March 07, 2022, 12:18:49 PM
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March 07, 2022, 11:28:08 AM
^ Yeah though it seems safe and there are no prior cases, you never know when it will happen. Remember that Government authorities are hot on Binance's tail.
I know about this risk we discussed it in the local community but still there is a way to anticipate it.
We use it only when depositing and playing when we win we never keep it always exchanged to local currency or USD this way we feel safer when playing at Betfury , we only take advantage of existing technology.
March 07, 2022, 08:56:08 AM
^ Yeah though it seems safe and there are no prior cases, you never know when it will happen. Remember that Government authorities are hot on Binance's tail.
It's probably wise not to use the term 'BNB chain' in the discussion because Binance have updated their terms into BNB Smart Chain and BNB Beacon Chain. It's just a suggestion to avoid confusion among new users when they read this thread.
It's probably wise not to use the term 'BNB chain' in the discussion because Binance have updated their terms into BNB Smart Chain and BNB Beacon Chain. It's just a suggestion to avoid confusion among new users when they read this thread.
March 07, 2022, 08:36:59 AM
Some exchanges don't allow gambling funds but there is no issue with the binance.
You can send coins from the binance exchange to BetFury.io and similarly you can withdraw the coins to the Binance exchange. If you still have doubt you can read the discussion Sending BTC from Gambling Site to Binance?
I have deposit funds coming from Binance to Betfury but have not tried Betfury to Binance I have second thought doing that because of what happened the last time I withdraw from one casino to one local exchange it did not went through and got a notification that they are not accepting funds from gambling and you must state it first before making a deposit, maybe one of this day I will try doing that Betfury to Binance, after reading that discussion.
March 07, 2022, 06:58:01 AM
Deposit BTC with BNB chain is a very useful update, which means playing at BetFury is becoming more relaxing.
let's make it clear here so that others don't go the wrong way.I know we can deposit using btc using bnb chain, but it's not BTC, we can't deposit btc using electrum wallet to bnb chain (0x..) because of that wrong address. btc in bnb chain is called altcoin. I don't know where I can get btc on bnb chain because I just know btc (legacy, segwit, taproot)
If that means we send BTC using the BNB chain from Binance, I'm just worried that there will be problems in the future because we're sending some BTC to casino sites, especially since the government watches Binance. But indeed, we have to be smart in choosing the coins and fortunately, there are many options available that we can use to play gambling.
Binance has no such rule like that. They will not lock your account if your funds came from gambling except if your country don't allow it while you are using the local version of Binance. Binance too will not gonna waste time screen your transaction and verify if its from gambling unless it was order by the government you are residing.
Betfury is a decentralized casino, I doubt that they can determine it easily.
Some exchanges don't allow gambling funds but there is no issue with the binance.
You can send coins from the binance exchange to BetFury.io and similarly you can withdraw the coins to the Binance exchange. If you still have doubt you can read the discussion Sending BTC from Gambling Site to Binance?
March 07, 2022, 03:38:45 AM
Actually, I don't know much about BTC using the BNB chain but if it can provide a small fee, it can provide a solution to send BTC but maybe not many wallets provide this facility and maybe only Binance provides it.
The wallet incompatibility is the only issue I can think of, especially for people who use lightweight bitcoin client like Electrum. Betfury uses the "0x" address prefix, which is not recognized by Electrum and could result to a loss of funds if sent by mistake, as Electrum only supports legacy and segwit types of addresses.While I understand that using BEP20 cuts transaction fees, people should keep in mind that if a platform does not accept BEP20 for deposit/withdrawals, your funds are more likely to be lost. And because of the continuous improvement in various blockchain network, the possibility of people getting confused is one of the reason why they lost money.
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