Topic: How do I generate an income statement from a wallet to satisfy casino KYC? - page 2. (Read 744 times)

Electrum doesn't have a statement of account instead you can use the blockchain explorers such as the mempool and the blockchair for tracking your transaction or also provide the screen shot of the deposited history transaction in electrum. Most of the casino afaik requires the statement of the account like you've been using for paying the bills such as electricity and water that is name on you.

Well if they reach an exaggeration like this for us it is fine and to comply with a KYC I would run away from the casino, no, that is why it is good that before making any deposit or anything and if there are doubts, contact the casino support and ask all these types of questions if the person did not read the Tos, but even so it seems to me that it is an overly exaggerated requirement, and I think it is not very viable, I do not think that a requirement like this they want or can ask for it, although I do not know how many levels of KYC exist in the casinos, but it has to be for extremely large amounts.

This is actually my first time on trying out to encounter that they've been asking about income proof for a casino KYC not unless if you do make out some huge deposits that rings up the bell considering
that money laundering is really that possible through gambling casinos to wash out those coins but with having that wagering requirement of deposits then it will really be that somewhat not a good
option to take since you could lose all of those money transferred if you are really just that trying out to mix those coins. We do know that most online casinos are already licensed or simply means that they are
regulated on which they are really that getting inline with those regulations on which once that big funds had been deposited then its really that likely that they will be asking something such as this one.

exactly, kyc process usually exists to triangulate your data with datapoints in the traditional system so they won't accept something pure crypto based
and thinking about it probably a website that would accept it wouldn't ask for kyc anyways, would be like defi or fully descentralized
makes any sense?

Since, when are casinos or other services asking for income proof from your Bitcoin or crypto wallet? I have never heard or experienced this before. When you are completing KYC verification whether it is for a casino, an exchange, or any other service online, they usually ask for your bank statements and other stuff like that so that they can see if you are actually earning money or not. Creating incoming and outgoing transactions in a blockchain wallet is very easy and anyone can bypass the verification if they are asking for such requirements now.

If you haven't been specifically asked for this and you are just assuming and asking from your side because they asked for proof of income, then I'm pretty sure they are not going to accept a pdf file of your electrum wallet showing your transactions because I don't think that can serve as a proof of income for a KYC verification.

I believe casino needs a legal statement of account documents which typically you can get on your bank account. Electrum transaction history is not enough documents to satisfy statement of account requirements since it doesn’t contain your name on it and most of transactions are anonymous.

I’m not sure either if transactions on electrum is valid for tax purposes since it doesn’t contain your name on the wallet to attached transactions on your name.

Requesting e-SOA is very easy now since you can request already via your bank account. This is the only docs which casino accept even though you are using crypto for your deposit. Also try to request on exchange since they have records for your withdrawal and deposit.

I just saw this and I can't stop laughing now. Do you think any reasonable casino/company would accept your electronically generated Bitcoin payments? Stop dreaming, bro. There are laid down rules and if at all the casinos ask you for a financial statement or proof of income source, they refer to your bank/card statement that will reflect enough for them to see.

As it is now, your sure bet is to contact your employer if your earnings are in Bitcoin, who knows, they might have the internally generated means to back your claim with the casino.

Maybe you are not really a gambler because you are not aware of this things yet but I think this also exist on almost any services that requires a KYC (preferably the ones that are in higher level already). If you think this was very private, then what about when you submit your ID, phone number, email, selfie, etc...? Aren't you surprised with them? In fact, I think they are more private than this one. We should not worry.

As long as the casino is known to be legit, I'm sure that they will keep our details securely and privately. Like its name says (income statement), I think they want to make sure that the source of our funds are from legit sources only. They are also being careful and they are afraid that they might get in trouble because they allow criminals to play on them. This doesn't has to do with winning a huge amount of money but winning a huge amount of money triggers a KYC.

Yes that was it. I already came across a requirement like that on some casinos that I've tried. Casinos are too sensitive on this, so what you are suggesting there is not going to work. Also, there are cryptos that are more private than the other.

If let say this was acceptable and if it was a Bitcoin HODL (whether old or new), I think the ones we will show is the transactions from the exchange, wallet, etc...

Are you sure that's what they want you to prove?

If so, simply providing your public address would be enough, since all incoming and outgoing transactions are recorded on the blockchain and available for anyone to see.

However, what I believe they want you to prove is how you acquired all those bitcoins, whether you have a job, whether you earned them in an old ICO trade or bet, etc. But if your source of income is an old bitcoin HODL, then the blockchain records will indeed be your greatest ally as proof.

Good luck, and if you can provide us with more details than what was requested, it might be easier for us to help you.

Seriously? A Casino requires a requirement like this? Because it is very private, mate. And what does it have to do with having to provide an income statement from your electrum wallet to fulfill KYC in a casino? I'm curious, what casino is that?

Have you just won so much that they require a requirement like this? If not, then I'd rather forget about it and move on to another casino that doesn't require as much data to fulfill KYC.

However, if they do require the history, then use the history tab or a website to search for transaction history such as blockchain or blockchain explorer from your wallet.

Looking at this from a standard point of view, I don't think statement from this will be actually accepted by this casino as proof of source of income, since they aren't generally legal and acceptable with an official name and home address of the user in question, if not I would have suggested you use "Blockchair explorer" to generate a statement showing the inflow and outflow of Bitcoin into a  wallet. But I doubt if this will be accepted as legal documents, that's why it will be better you go use your Utility bill for such approval.

You don't generate any income statement there. What you'll be getting there is your deposit and withdrawal history. The casinos won't consider it as your source of income when you send them that and they won't approve it because anyone can ask their friends and families or even strangers to provide them a screenshot of their electrum balance. The casinos won't be looking for that as your source of income even if there will be ins and outs of it. What type of source of income you should send them are the typical ones that we're having, pay slip, or if you're self employed, the transactions that you're making or even bank slips might be considered but not from electrum.

if it's traditional kyc I'm afraid that only your blockchain balance won't be enough to prove it
they'll probably ask for the origins of funds and everything

for the good and for the bad it's a bit like these are 2 really different systems
crypto and traditional finance

It would be useful if the OP actually replied to any of the previous users who are trying to assist him with his question. With that being said, we're still unaware if this is a hypothetical or an actual scenario. If it's the latter, which casino is asking you for an income statement from Electrum? Did they perhaps ask for a generic income statement, and you thought they'd accept one from Electrum?

As others already suggested, generating all your transactions may look like a valid source of income; I don't believe it's a valid document that proves the source of funds. Nevertheless, this isn't really the case here because it hasn't been specified what exactly is the issue, if it even exists.

Source of funds is not from your wallet,. Source of income is from your bank statement. Let say for instance, you go to bank to print your account statement which would show how you have been receiving your salaries from the company you worked and their names would also show from the bank statement. I think have passed through this verification sometimes like that but can't actually recall the years which that happens,  again the most important thing is that the name of kyc would also reflect with the name on the account statement otherwise you are aslo putting yourself in much riskier place.

I don't think a statement from Electrum wallet can be regarded as source of funds. Electrum is just a wallet that holds money you made from various sources and not the source itself. If casino requires source of funds, they are asking for what you do to get the funds with which you want to gamble. An employment later or something similar is a good example of source of fund.  I think that is what they are looking for. Perhaps if there a way to get the wallet statement detailing where the funds it hold comes from, maybe that can still stand.

How do I generate an income statement from a wallet to satisfy casino KYC? First of all why do u need a income statement for gambling provider, I mean what are you doing at the first place?

But if you do quick google search you may find interesting one like this one, it will take your time and lot of it. https://admantiumcrypto.medium.com/how-to-prepare-crypto-financial-statements-6f3f55fb6c27



But there is always a site that can help you with that like this one https://cryptotaxcalculator.io/

Printing out his statement from his Electrum wallet is not a big deal. There is a thread in this forum that discusses how to print out his transactions from blockchair.com. How to generate a Bitcoin Statement of Transaction. It might be helpful to OP if that's what the casino really needs. As much as they didn't ask for other private information like wallet passwords, passphrases or seed phrases, transaction statements pose no harm.     

Not most, but I think all casino will definitely request for bank account statement for proof of payment verification,  I have not seen or heard that any casino will request for crypto wallet statement of transaction. OP did not actually mentioned the casino that have requested such account statement from him so that other can equally verify if truly there is any casino requesting for such data.