Topic: Crypto-Casinos and KYC - page 9. (Read 2424 times)

That is awareness about the value of personal data, if they do not have that awareness and or maybe do it because there is no other way, then of course they must be prepared to take the risk. In today's crypto circles it's not completely anonymous and it's not only about gambling, at first I was personally reluctant to KYC but if it's related to personal interest in using related sites that request KYC, then it becomes the final way for KYC but if it's about gambling sites that ask for KYC basically there are many other crypto gambling sites available, so I prefer to avoid KYC because there are still many better options out there.

The casino can do anything to your data. Even if they want to sell the data, they can do that. It is why we really need to care about our data and not easily send the data to a third party if we are not sure. We should concern the hacker as they can enter the website easily, especially if the website can not protect their site because we already read about many hacking cases on the internet.

The casino can do anything to your data. Even if they want to sell the data, they can do that. It is why we really need to care about our data and not easily send the data to a third party if we are not sure. We should concern the hacker as they can enter the website easily, especially if the website can not protect their site because we already read about many hacking cases on the internet.

It doesn't even require a hacker if a casino seems to be reputable, collects your data when you want to cash out and also sells your data to hackers. They don't even have to do the hacking then. That's why the general rule should be that everyone is in a best case scenario one's own best data protector.

Yeah, you are right. I think those people underestimate that and they did that because they want to get something, so they challenge the risk. They do not know what will happen if someone hacks the data. They maybe do not even think about what the hacker can do with that data. If we only want to play gambling, we can select a gambling site that does not have a verification but that site has a good reputation, so we do not have to worry about the bad things.

Which is why we must gamble only in casinos that have developed a good reputation over the years, people give their personal information too easily these days, just take a look at what happens in social media, and this is a mistake because you can be sure that once you upload your data to a website you have no control over it and someone has access to that information even if they say they have deleted it as it is impossible to enforce the laws that have to do with our privacy online and it is likely many business decide to not even try to comply despite the law.

If people send their details to third-party services and third-party services got hacked, all of the customer data can be used for many things. The hacker can sell the data to other party and they will get the money. So it needs more attention if that is related to our identity and does not send your details to any party without you know if they can protect your data or not. Just remember, when your data is upload to the internet, there is no guarantee to make sure your data is safe.

I have 2 questions which I would like everyone to please answer and based on the answers can we can have a clear picture.

1- Would you gamble at a crypto-casino knowing it would ask you for KYC documents before withdrawal?

My opinion: No, because fiat casinos offer much better services, odds, and games so I would never want to do KYC at a crypto casino and if I was going to do it, I would rather play at a fiat casino like bet365. There are countless options of exchanging your Bitcoins to skrill/neteller and deposit to play. I don't think that's a problem for anyone so unless crypto casinos offer better services, I won't play there if KYC is required. On top of everything else, the main reason why crypto was made was to keep ourselves anonymous and if crypto casinos should follow the same path.

If a player cheated the casino by any means, then the casino should just ban the player because asking for KYC is not going to solve the case.


2-  Do you feel safe giving out your KYC to online crypto-casinos?

My opinion: After the documents are sent, they go through a number of people and online casinos keep changing their staff from time to time and in some case, if a staff member knows my address and in case I am a high-roller I would be in some serious trouble because the staff member can track me and even blackmail me to some extent. I am ok with giving my identity to known sites like bet365 or williamhill but I am still not comfortable verifying myself at a lesser-known crypto casino.

That is a very good observation and I agree that most of the bitcoin gamblers are playing at these small casinos because they want to remain hidden and avoid any taxes otherwise they can register and play a wider range of games at local casinos and some reputed ones online that operate in cash and fiat.

Players must read terms & conditions before playing if they are concerned about KYC because most of the casinos ask for it suddenly once you win big.

It is perhaps rare today to see a pure crypto gambling site that has not been regulated.  So if they are not regulated, they also do not have a license to operate.  That is why it is very risky to gamble on such a platform.  There are still some of them that KYC is not mandatory, it is only required in case a lot of money is coming in and out of your account such as winning a huge amount and reaching the limit.

1. If I can avoid having KYC and still have some gambling sites that are not requiring, I would probably avoid it but that can only take so long before every site has to comply with the norm.

Complaining is bad in gambling, it only shows that you are not focused and you are not willing to accept the risk, or worst you don't even know the risk. Because we are gambling, we should assume that we are mature enough, we understand the risk, and we accepted it.

KYC is not a problem if we understand it's the rules of a regulated casino, of course we can find other casinos but we should understand that anonymous gambling is risky compared to gambling with KYC as casinos could disappear if they are not licensed.

when we say they are licensed, expect they will require a KYC< maybe not now, but maybe in the long run.

It is perhaps rare today to see a pure crypto gambling site that has not been regulated.  So if they are not regulated, they also do not have a license to operate.  That is why it is very risky to gamble on such a platform.  There are still some of them that KYC is not mandatory, it is only required in case a lot of money is coming in and out of your account such as winning a huge amount and reaching the limit.

We can choose what casino we can use to gamble as I am sure that not all crypto gambling will follow the regulations and ask their members to fill KYC. We can find a casino with a license and do not require the members to fill KYC. If the casino can do this, they can get many members who will play on their site as the casino can give anonymity to them. A crypto gambler wants to hide their identity from others and the casino, so the casino will understand that.

Whatever we think about it, it's still the government that would dictate us, if we say they will regulate crypto, which includes any business related to it. And since we like casinos to owned a license so we can trust them, that also means we have to sacrifice our privacy or anonymity as anything that is regulated by the government, they have control over it and they will require all the basic standards in a business, and that includes the KYC requirement.